The stimulus negotiations
A good discussion of the current state of play is here. The short version is Speaker Pelosi and Treasury Secretary Mnuchin are negotiating over a package of $2 trillion or so, McConnell plans to introduce a very limited $500 billion package that he may or may not actually have votes to pass (he may just be giving his members up for re-election a messaging opportunity), and Trump has declared that he wants Pelosi and Mnuchin to go bigger.
My take is that it is time for Pelosi to call Trump’s bluff. She should pass a $2 trillion or so package, with or without final sign off from Mnuchin, making a nominal concession or two to Trump, and tell the truth: “Everyone knows what is going on here. The Democrats have been trying to get more relief to the American people and the Republicans in the Senate have been obstructing. President Trump is the leader of the Republican Party. He says he wants more stimulus. He needs to show he is a leader and not just a television personality and get this bill through the Senate.”
The only possible downside here is political – passing the bill might benefit Trump and the Republicans. But the election is the Democrats’ last leverage point until Biden takes office (assuming he does). That’s a long time to wait, both in terms of individual suffering and aggregate macroeconomic damage. And if Democrats don’t capture the Senate, there may never be another stimulus bill of any kind. And it’s not even clear the bill would benefit Trump and the Republicans. I say do it.
Lots of dust being tossed up in the air on the stimulus. I suspect the public has no clear understanding of what the president has said both ways stimulus or no stimulus, what the Senate is advocating, against or for and Dem or Repub, and what the House under Pelosi is losing it clarity on what the bill is due to the back and forth. The Treasury “Munchkin” moves with the politics.
Perhaps a house will fall on trump too?
Most of the public has lost track of what this is a;; about and Dems will take blame also.
The House just passed a $2.2 Trillion package.
That puts the emphasis squarely on Repubs to do something good or bad.
Great news! THX.
Over the past couple days it is being made clear that the Repubs are play for a Biden presidency thus looking to keep the economy down, blame it on Biden and then do their “but the deficit” dance.
As I’ve read some Republican insiders have said this is where they are at.
So, the Republicans are again only thinking about what maneuvers and positions will be manipulative enough to keep them in power vs doing the easy thing and actually doing right by the people.
“…doing the easy thing and actually doing right by the people.”
[Over forty years ago the easy thing might have been actually doing right by the people, but now the easy thing is to pander to enough of the right people to have an effective electoral constituency for one’s own district or state. Too much bridge has gone under the water for actually doing right by all the people to likely even be possible much less easy.
There are still choices and consequences though. Despite being accustomed to suffering the consequences of horrible choices, there is still the opportunity for better choices with less dire consequences, but none of that will come easy.]
OTOH, I agree with you that Republicans are getting content with the idea that they will lose this electoral round, even if it is in a big way. With Fat Donnie out of the way (hopefully) then they can blame all the bad stuff that is likely to happen over the next four years on the Democratic Party. It is never easy to unscrew the pooch.