UNITED STATES - MARCH 17: Treasury Secretary Steven Mnuchin, left, delivers remarks on the coronavirus relief package as Larry Kudlow, White House economic adviser, looks on, after the Senate Republican Policy luncheon in Russell Building on Tuesday, March 17, 2020. (Photo By Tom Williams/CQ Roll Call/Sipa USA)No Use UK. No Use Germany.
Last updated on July 18th, 2023 at 12:07 pm
Trump sent his top economic advisers to defend his executive orders and the result was chaos, confusion, and disaster.
Larry Kudlow seemed to have no idea how much money unemployed people would be getting:
BASH: You keep saying $1,200 per person. Are you talking about in addition to the unemployment that they’re already getting?
KUDLOW: Oh, no.
BASH: Where does that number come from?
KUDLOW: That’s the payroll — I’m sorry. I beg your pardon. The $1,200 will come from the payroll tax deferral on top of this.
BASH: OK. We’re going to get to that. OK, all right, because this is — there’s a lot of numbers here, and it’s a little confusing.
(CROSSTALK)
KUDLOW: Yes, I’m sorry. It should be…
BASH: I want to get to payroll tax in a minute. Go ahead.
KUDLOW: It should be 800 bucks. I beg your pardon. It should be 800 bucks for the unemployment.
BASH: Eight hundred or $400?
KUDLOW: No, it should be $400 — it should be $800.
If the states step up, we’re prepared to match. That should be — come out $400 federal, $400 states.
BASH: OK. We will move on, because I think this is — that’s not what the president said, and it’s a bit confusing. And I think the fact that it’s not entirely known is very telling.
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Meanwhile, Treasury Secretary Steve Mnuchin was claiming that it is possible to cut or eliminate the payroll tax and not harm Social Security and Medicare:
On Meet The Press, Trump trade adviser Peter Navarro admitted that the executive orders are guidance and not policy.
The Trump economic team was sent on to the Sunday shows to defend executive orders that they can’t explain. They don’t appear to know what the executive orders will do, and they seem to admit that Trump’s actions have little ability to change anything.
If this was supposed to be the push to shift the political blame to Democrats, it was a debacle, and likely will do nothing to help Trump’s terrible polling in his reelection race against Joe Biden.
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