On the heels of more than three million new unemployment claims, Treasury Secretary Steven Mnuchin calls in to CNBC for a phone interview to discuss the coronavirus relief bill that passed last night.
Mnuchin was asked about his reaction to seeing the 3.28 million new unemployment claims reported for the past week during the interview. Mnuchin said, “To be honest, I think these numbers right now aren’t relevant whether they’re bigger or shorter in the short term.” WATCH:
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President Trump Twitter @POTUS / Vice President Pence Twitter @VP
Stephanie Grisham Twitter @StephGrisham45
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.
For Thine is the kingdom and the power and the glory, forever and ever. Amen †
Yikes, the text of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has been released (full pdf below). The Senate took H.R.748 stripped it out, and replaced the text with this bill. The full 50 page senate record of the activity is available here.
Digging in now. However, at first blush the size of the spending seems to be a considerable state budget deficit bailout [similar to how Obamacare removed the healthcare pension liabilities from unions]. Here’s the BILL:
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Share your thoughts in the comment section….
Think about this… How weak and tenuous does a corporate financial position need to be such that being closed for one week means informing all nationwide landlords of your inability to pay the rent next week? Consider this example:
CALIFORNIA – The Cheesecake Factory, one of the most popular sit-down restaurant chains in the country, says it will not be able to make upcoming rent payments for any of its storefronts on April 1 because of significant loss of income due to the coronavirus crisis.
[…] Company chairman and CEO David Overton writes, “Due to these extraordinary events, I am asking for your patience, and frankly, your help.” He continues, “we appreciate our landlords’ understanding given the exigency of the current situation.” The letter says that the company hopes to resume paying rent as soon as possible.
Washington DC Mayor Muriel Bowser closes the nation’s capital until April 25th, effectively closing all public gatherings for one month. [Order pdf Here]
There is a certain aspect to dèjá-vu showing up on the horizon… Welcome to an economic civil war. But first, the latest details.
WASHINGTON DC – The intent of the Order is to temporarily cease all non-essential business activities, including tour guides and touring services; gyms, health clubs, spas, and massage establishments; theaters, auditoriums, and other places of large gatherings; nightclubs; hair, nail, and tanning salons and barbershops; tattoo parlors; sales not involved in essential services; retail clothing stores; and professional services not devoted to assisting essential business operations.
The Order goes into effect on March 25, 2020, at 10 pm, through April 24, 2020 (link)
On the horizon it appears the state and regional shutdowns are going to mirror the shutdowns from Obama’s infamous sequester-fiasco from the spring of 2013. That looks like the road-map that will be followed as the coronavirus issue starts to level-off.
Cincinnati Ohio joins a growing list of cities who have modified their police enforcement efforts in response to the coronavirus effort. Cincinnati is suspending all calls for police officers when the suspect is no longer present.
The police will no longer respond to property crimes, robbery, burglary, theft, and assault without hospitalization, amid a new set of law enforcement priorities.
OHIO – […] Police will no longer respond to assault reports, unless a suspect is still present or the victim requires medical attention, breaking and entering reports unless a suspect is still present, menacing reports “unless suspect is expected or threatens to return or is part of the elements of domestic violence” or theft reports “where there is no possibility of immediate apprehension.” (link)
Gee, what could go wrong?…
This example highlights the mindset of CNN and the national media. CNN Political Analyst Joe Lockhart criticizes President Trump for remaining in the White House, following the CDC guidelines, and not traveling around the nation undermining the various ‘stay at home’ measures.
(link)
There really has never been a time like this. The U.S. media, writ large, have dropped all pretense of journalism, or even common sense, and have gone into a phase of resistance derangement unlike any time in history.
The White House is holding the daily update for COVID-19 information and press availability today at 5:00pm ET. Livestreams below:
VIDEO ADDED:
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[Transcript] – THE PRESIDENT: Thank you very much. So, nice to be with you. America continues to gain ground in the war against the virus.
I want to thank the American people for answering the call, following our guidelines, and making the sacrifices required to overcome this terrible threat. More aggressively we commit to social distancing — so important. Social distancing — such an important phrase. And we do it right now. The more lives we can save and the sooner we can eventually get people back to work, back to school, and back to normal.
Americans doing, what Americans are known to do…
…No American stands alone.