Treasury Secretary Steven Mnuchin said on Thursday that there is a strong chance the nation will need another pandemic stimulus package.
“We’re going to carefully review the next few weeks,” he said during an interview. “I think there is a strong likelihood we will need another bill” following the $3 trillion “we’re punping into the economy.”
He will review the progress of the U.S. economy over the next few weeks and evaluate if we need to do it.
Earlier this week, the White House economic adviser Kevin Hassett made similar remarks but said another virus response bill might not be necessary.
Hassett’s hoping for a strong economy, but this week, the Fed’s Eric Rosengren foresees a possible double-digit unemployment rate through the end of this year.
Two-thirds of those on unemployment make more on unemployment than from their former positions. Mnuchin has told them that if they have a job offer and don’t take it, they lose the benefits. It’s hard to imagine how they can monitor that.
At the same time, Speaker Pelosi is pushing her $3 trillion socialist bill. It includes amnesty for almost all illegal aliens in the country, who will then vote for them. The bill puts in mail-in voting which will be rife with fraud. It also includes a fortune in payoffs to her voting base, lobbyists, cash payments to illegal aliens. The bill is a partisan bill aimed at garnering votes and moving the country left.
Mnuchin called Pelosi’s Heroes Act a partisan act and Mitch McConnell wants to move slowly. Pelosi and Schumer are going to insist on some more socialism as we run up debt.
Let people go back to work and we won’t need it.
Here she is selling socialism and her great cash giveaway:
— Nancy Pelosi (@SpeakerPelosi) May 21, 2020
McConnell has different thoughts:
House Democrats have been missing in action for months. They just forced through a remote voting scheme so they can continue their absence. But there’s a problem: Article I, Section 5 of the Constitution. pic.twitter.com/o3NYQJsprz
— Leader McConnell (@senatemajldr) May 21, 2020