The Congressional Budget Office (CBO) praised The Trump Administration Tuesday for organizing its agencies to deliver medical emergency aid “incredibly quickly,” which helped the country withstand the devastating economic effects of the C-19 coronavirus chaos.
CBO director Phillip L. Swagel said Congress moved fast to approve its stimulus bill, while the Treasury Department and the Small Business Administration (SBA) acted “quickly and effectively” to get stimulus payments to The People and businesses in need.
The CBO is a non-partisan watchdog group widely considered to be the Congress’ scorekeeper.
Mr. Swagel worked in the White House during the Y 2008 financial crisis when Congress Green-lit several rounds of stimulus bills. That money was also distributed quickly but did not have the powerful effects as President Trump’s packages, his payments went out much, much faster.
“President Trump is a caring and decent man who believes in America 110%. I wish other politicians felt and did the same.
“He has seen the ups and downs, both personally plus professionally, and somehow survived by hard work. Perhaps, some day, people like Ms. Pelosi He, unlike Nancy Pelosi, has not gained his wealth at the costs of self-beneficial interests ($200-M+ in her latest reported wealth even though her Congressional compensation has been less than $200,000/year over her 30-year career as a Democrat politician) in the service of our country as she has and many others too.
“Donald J. Trump genuinely cares about The People you can see that in his business affairs. He believes in taking a business attitude to what he is doing; get the job done properly or get “fired” and when it is done, leave or create a new opportunity for your services which is exactly what we do in business, a harsh lesson for the entrenched bureaucrats and politicians in our country.
“Some 40-years ago I met him, and he is the same then as he is now, unchanged in his beliefs of helping others.
“He is a strong leader, let him run with the ball and let the chips fall as to where they should be, says Bruce WD Barren, Chairman of The EMCO/ Hanover Group.
The super strong report from the CBO flies in the face of other MSM news filled with complaints that agencies were overwhelmed with requests and from Democrats in Congress who claimed the Treasury Department delayed sending out payments.
The CBO this week pointed to the large increase in the Y 2020 federal budget deficit, stemming from a mix of heavy spending and not soft tax revenue.
Mr. Swagel said that while the deficit is not a long-term budget worry, due in part to ultra low-interest rates, that might change if the rates begin to rise.
“The fiscal steps taken so far have not greatly increased the burden on the Treasury of funding our debt,” he said.
Since the economic crisis in Y 2008, he said the US economy has climbed steadily until its momentum got undercut by the C-19 coronavirus.
People in the lower-income brackets saw their wages rising “reasonably strongly” until a few months ago when the job market dove.
Now, Mr. Swagel said, “…uncertainty” about how C-19 coronavirus will affect the country in upcoming months could lead to an unpredictable economic future.
“That was a success, that the bottom of the distribution was feeling gains,” Mr. Swagal said. “The question is, will it take another decade of upswing” to get back to that sort of growth?
Have a healthy day, Keep the Faith!