The US economy is entering a self-sustaining V-Shaped recovery and does not need a big dose of aid/relief/stimulus bill from Congress.
“The numbers are coming in very, very nicely,” National Economic Council Director Larry Kudlow said adding that data suggests a rise in C-19 coronavirus cases over the Summer put only “a slight restraint on the economy.”
Asked if that meant a stalemate in talks over another relief bill would hurt the economy, Mr. Kudlow said: “I do not think so.” He said he believed only “targeted money” was needed now.
Speaking to reporters at the White House, Mr. Kudlow declined to comment specifically on the status of the stalled talks between the Republican administration and Democrats on Capitol Hill, but he suggested the White House had little to no appetite for a big new bill.
He said executive actions taken by President Trump over the weekend to defer payroll taxes and provide federal aid to the unemployed would give the economy a shot in the arm.
“The executive orders provide considerable assistance and economic growth incentives,” Mr. Kudlow said. “So, we can stay with that as we are entering what I think is a self-sustaining economic recovery.”
Mr. Kudlow explained that The Trump Administration is open to more coronavirus-related aid for states but not Porked Up bailouts for “bad management,”
“The President has rejected bailouts very steadily and consistently. This is not about bailing out pensions, it’s not about bailing bad management,” Mr. Kudlow said.
“However, we are not opposed to some assistance, federal assistance with respect, for example, to COVID-related equipment or construction or renovation, especially, I say this again, opening schools and opening businesses.”
Have a healthy day, Keep the Faith!