Adviser says White House is studying additional stimulus checks


Old fashioned capitalism and 1930s style (Bernie Sanders) socialism are out. The new socialism is in.

The biggest feature isn’t even the subsidies, but rather the Fed creating brand new money to buy up most US debt, pay for government expenses, and even buy junk bonds despite the Federal Reserve Act expressly forbidding it.

(From the Hill)

Trump signaled last week that he envisioned a future package including money for state and local governments, infrastructure funding, tax incentives for businesses purchasing meals and entertainment, and a payroll tax holiday.

Hassett told reporters Tuesday that the administration’s economic policy was designed to “build a bridge to the other side” so that Americans would be able to pay their bills during the period of economic distress caused by the novel coronavirus outbreak.

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