CONSIDERED PHASE 3.5, OR PHASE,
EVENTUALLY PHASE FOUR FOR
EVENTUALLY PHASE FOUR FOR
FEDERAL MONEY TO THE TUNE OF
FEDERAL MONEY TO THE TUNE OF
BILLIONS AND BILLIONS OF
BILLIONS AND BILLIONS OF
DOLLARS.
DOLLARS.
LARRY KUDLOW IS HOOKED UP NOW,
LARRY KUDLOW IS HOOKED UP NOW,
LARRY, THANK YOU, WELCOME BACK
LARRY, THANK YOU, WELCOME BACK
TO HER PROGRAM HERE, AND GOOD
TO HER PROGRAM HERE, AND GOOD
AFTERNOON TO YOU.
AFTERNOON TO YOU.
A COUPLE THINGS I WANT TO GO
A COUPLE THINGS I WANT TO GO
THROUGH QUICKLY, LARRY, IN THE
THROUGH QUICKLY, LARRY, IN THE
TIME THAT WE HAVE.
TIME THAT WE HAVE.
OIL PRICES HAVE FALLEN THROUGH
OIL PRICES HAVE FALLEN THROUGH
THE FLOOR.
THE FLOOR.
WHAT DOES THAT MEAN FOR OUR
WHAT DOES THAT MEAN FOR OUR
ECONOMY, LARRY?
ECONOMY, LARRY?
>> WELL, I THINK IT’S A SIGNAL
>> WELL, I THINK IT’S A SIGNAL
THAT THE WORLD ECONOMY HAS BEEN
THAT THE WORLD ECONOMY HAS BEEN
A VERY BADLY HIT BY THE VIRUS
A VERY BADLY HIT BY THE VIRUS
AND THE MITIGATION EFFORTS ON
AND THE MITIGATION EFFORTS ON
THE VIRUS, AND YOU’RE SEEING A
THE VIRUS, AND YOU’RE SEEING A
HUGE DROP IN THE AGGREGATE
HUGE DROP IN THE AGGREGATE
DEMANDS, THAT INCLUDES THE
DEMANDS, THAT INCLUDES THE
DEMAND FOR ENERGY, OIL, AND GAS,
DEMAND FOR ENERGY, OIL, AND GAS,
THAT’S WHY PRICES ARE LOW.
THAT’S WHY PRICES ARE LOW.
THIS WILL PROVE TO BE TEMPORARY,
THIS WILL PROVE TO BE TEMPORARY,
IN MY JUDGMENT, BUT AS WE TRY TO
IN MY JUDGMENT, BUT AS WE TRY TO
REOPEN OUR ECONOMY, AND PROVIDE
REOPEN OUR ECONOMY, AND PROVIDE
NEW ECONOMIC GROWTH POLICIES,
NEW ECONOMIC GROWTH POLICIES,
HOPEFULLY THERE WILL BE AN OIL
HOPEFULLY THERE WILL BE AN OIL
REBOUND.
REBOUND.
BUT RIGHT NOW, WE ARE STILL
BUT RIGHT NOW, WE ARE STILL
AMIDST A VERY BAD ECONOMIC
AMIDST A VERY BAD ECONOMIC
CONTRACTION, IT’S NOT OF OUR OWN
CONTRACTION, IT’S NOT OF OUR OWN
MAKING, NOT BUSINESS,
MAKING, NOT BUSINESS,
NONWORKERS, IT’S NOT OUR
NONWORKERS, IT’S NOT OUR
POLICIES, IT’S ALL BECAUSE OF
POLICIES, IT’S ALL BECAUSE OF
THE VIRUS.
THE VIRUS.
>> Bill: I’M LOOKING AT A BURN
>> Bill: I’M LOOKING AT A BURN
RATE OF $50 BILLION A DAY IN
RATE OF $50 BILLION A DAY IN
THESE FEDERAL PROGRAMS, LARRY.
THESE FEDERAL PROGRAMS, LARRY.
FIRST OF ALL, DO YOU HAVE A DEAL
FIRST OF ALL, DO YOU HAVE A DEAL
IN THE NEXT PHASE RIGHT NOW?
IN THE NEXT PHASE RIGHT NOW?
>> APPARENTLY SO, JUDGING FROM
>> APPARENTLY SO, JUDGING FROM
WHAT I READ FROM THE LEADERS,
WHAT I READ FROM THE LEADERS,
SARAH McCONNELL,
SARAH McCONNELL,
SENATOR SCHUMER, I THINK
SENATOR SCHUMER, I THINK
TREASURE SECRETARY MNUCHIN AND
TREASURE SECRETARY MNUCHIN AND
PRESIDENT TRUMP WILL BE TALKING
PRESIDENT TRUMP WILL BE TALKING
ABOUT THIS AT THE PRESIDENTS
ABOUT THIS AT THE PRESIDENTS
NEWS CONFERENCE AND A LITTLE
NEWS CONFERENCE AND A LITTLE
WHILE.
WHILE.
BUT I LOOKS LIKE IT’S ABOUT
BUT I LOOKS LIKE IT’S ABOUT
$480 BILLION, AND THE
$480 BILLION, AND THE
CENTERPIECE, $320 BILLION FOR
CENTERPIECE, $320 BILLION FOR
THE PAYROLL PROTECTION PROGRAM.
THE PAYROLL PROTECTION PROGRAM.
$60 BILLION FOR DISASTER RELIEF,
$60 BILLION FOR DISASTER RELIEF,
THAT’S A SPECIAL SBA DISASTER
THAT’S A SPECIAL SBA DISASTER
RELIEF.
RELIEF.
$75 BILLION FOR HOSPITALS.
$75 BILLION FOR HOSPITALS.
AND $25 BILLION FOR TESTING.
AND $25 BILLION FOR TESTING.
I MIGHT NOT HAVE IT ALL, BILL,
I MIGHT NOT HAVE IT ALL, BILL,
BUT I THINK THAT PRETTY MUCH
BUT I THINK THAT PRETTY MUCH
COVERS IT, IT COMES TO ABOUT
COVERS IT, IT COMES TO ABOUT
$480 BILLION.
$480 BILLION.
>> Bill: I THINK THAT THE
>> Bill: I THINK THAT THE
BROAD OUTLINE, 310 BILLION INTO
BROAD OUTLINE, 310 BILLION INTO
DIRECT PAYMENTS, $75 BILLION IN
DIRECT PAYMENTS, $75 BILLION IN
HOSPITALS, $25 BILLION FOR
HOSPITALS, $25 BILLION FOR
TESTING WHICH GOES TO SUPPORT A
TESTING WHICH GOES TO SUPPORT A
LOT OF GOVERNORS.
LOT OF GOVERNORS.
LARRY, WHAT TOOK SO LONG, AND
LARRY, WHAT TOOK SO LONG, AND
WHY WAS THAT?
WHY WAS THAT?
>> WELL, I DON’T KNOW, WE TRY TO
>> WELL, I DON’T KNOW, WE TRY TO
COME TOGETHER, IT’S GOT TO BE
COME TOGETHER, IT’S GOT TO BE
BIPARTISAN, AS YOU KNOW,
BIPARTISAN, AS YOU KNOW,
PRESIDENT TRUMP HAS BEEN OUT IN
PRESIDENT TRUMP HAS BEEN OUT IN
FRONT ON THIS, YOU KNOW, EVEN A
FRONT ON THIS, YOU KNOW, EVEN A
DAY OR TWO BEFORE THE RUN RATE
DAY OR TWO BEFORE THE RUN RATE
FOR THE PPP WAS COMING TO AN
FOR THE PPP WAS COMING TO AN
END, HE MADE HIS PLEA, SECRETARY
END, HE MADE HIS PLEA, SECRETARY
MNUCHIN, UPON THE HELL
MNUCHIN, UPON THE HELL
CONSTANTLY, I GIVE HIM A LOT OF
CONSTANTLY, I GIVE HIM A LOT OF
CREDIT, TRYING TO PUT IT
CREDIT, TRYING TO PUT IT
TOGETHER WITH REPUBLICANS AND
TOGETHER WITH REPUBLICANS AND
DEMOCRATS, THEY NEED THE MONEY,
DEMOCRATS, THEY NEED THE MONEY,
TRYING TO KEEP PEOPLE WORKING
TRYING TO KEEP PEOPLE WORKING
OKAY, WERE TRYING TO KEEP
OKAY, WERE TRYING TO KEEP
BUSINESSES GOING, WERE TRYING TO
BUSINESSES GOING, WERE TRYING TO
KEEP PEOPLE WORKING, AND THE
KEEP PEOPLE WORKING, AND THE
BASIC PROGRAM, LOOK, IT WORKS
BASIC PROGRAM, LOOK, IT WORKS
VERY WELL AND BASICALLY,
VERY WELL AND BASICALLY,
175 MILLION AMERICANS EITHER
175 MILLION AMERICANS EITHER
THROUGH THE DIRECT TRACKS, OR
THROUGH THE DIRECT TRACKS, OR
THE PPP, OR A NUMBER OF OTHER
THE PPP, OR A NUMBER OF OTHER
ASSISTANCE PROGRAMS WILL BE
ASSISTANCE PROGRAMS WILL BE
RECIPIENTS, WE WANT TO JUST TRY
RECIPIENTS, WE WANT TO JUST TRY
TO STABILIZE THIS STORY, KEEP
TO STABILIZE THIS STORY, KEEP
PEOPLE GOING, KEEP BUSINESSES
PEOPLE GOING, KEEP BUSINESSES
GOING TO THE BEST OF OUR
GOING TO THE BEST OF OUR
ABILITY, AND THE GOOD NEWS IS
ABILITY, AND THE GOOD NEWS IS
THE VIRUS --
THE VIRUS --
>> Bill: TRY AND GET THEM --
>> Bill: TRY AND GET THEM --
>> TO THE OTHER SIDE --
>> TO THE OTHER SIDE --
>> Bill: I’VE GOT A MINUTE
>> Bill: I’VE GOT A MINUTE
LEFT, I DON’T MEAN TO SOUND
LEFT, I DON’T MEAN TO SOUND
RUDE, I APOLOGIZE FOR THAT.
RUDE, I APOLOGIZE FOR THAT.
AND THE MINUTE I HAVE LEFT, HOW
AND THE MINUTE I HAVE LEFT, HOW
MUCH OF A DISCUSSION IN THE WEST
MUCH OF A DISCUSSION IN THE WEST
WING CONCERNS CHINA?
WING CONCERNS CHINA?
IF IT IS TRUE THAT THE REPORTING
IF IT IS TRUE THAT THE REPORTING
OUT OF WUHAN ET CETERA PLAYS
OUT OF WUHAN ET CETERA PLAYS
OUT, HOW WILL THE U.S.
OUT, HOW WILL THE U.S.
GOVERNMENT LEAVE A MARK ON
GOVERNMENT LEAVE A MARK ON
BEIJING SO IT DOESN’T HAPPEN
BEIJING SO IT DOESN’T HAPPEN
AGAIN, LARRY?
AGAIN, LARRY?
>> WELL, LOOK, CHINA MUST BE
>> WELL, LOOK, CHINA MUST BE
HELD ACCOUNTABLE.
HELD ACCOUNTABLE.
THAT’S THE KEY POINT THAT I WANT
THAT’S THE KEY POINT THAT I WANT
TO MAKE.
TO MAKE.
THERE IS NO QUESTION OF THE
THERE IS NO QUESTION OF THE
ORIGIN OF THIS VIRUS.
ORIGIN OF THIS VIRUS.
THAT WAS IN CHINA.
THAT WAS IN CHINA.
A LACK OF TRANSPARENCY, A LACK
A LACK OF TRANSPARENCY, A LACK
OF INFORMATION IS EXTREMELY
OF INFORMATION IS EXTREMELY
TROUBLESOME.
TROUBLESOME.
THIS WILL BE INVESTIGATED OVER A
THIS WILL BE INVESTIGATED OVER A
PERIOD OF TIME, AND WE WILL SEE
PERIOD OF TIME, AND WE WILL SEE
HOW IT TURNS OUT.
HOW IT TURNS OUT.
WE STILL HAVE A TRADE DEAL WITH
WE STILL HAVE A TRADE DEAL WITH
CHINA, BUT THEY WILL BE HELD
CHINA, BUT THEY WILL BE HELD
ACCOUNTABLE.
ACCOUNTABLE.
THE MAIN THING HERE RIGHT NOW IS
THE MAIN THING HERE RIGHT NOW IS
LET US GET THROUGH THE NEXT FEW
LET US GET THROUGH THE NEXT FEW
WEEKS AS THE VIRUS NUMBERS
WEEKS AS THE VIRUS NUMBERS
FLATTEN OUT AND THE GUIDELINES
FLATTEN OUT AND THE GUIDELINES
GOING TO PLACE FOR A PHASE
GOING TO PLACE FOR A PHASE
REOPENING OF THE ECONOMY.
REOPENING OF THE ECONOMY.
PEOPLE THAT WILL BE SO, SOCIAL.
