Well. That escalated quickly. The Democrats and Republicans were talking about a $2 trillion coronavirus stimulus bill and Larry Kudlow comes and says, “hold my beer.”
National Economic Council Director Larry Kudlow says the coronavirus relief package will be $6 trillion https://t.co/KQ4PiXdNRb pic.twitter.com/lHGFL3nxrR
— CBS News (@CBSNews) March 24, 2020
Wow.
Here’s what he said about that:
Meanwhile, top White House economic adviser Larry Kudlow said the price tag for the package the Senate and administration is finalizing on Capitol Hill amounts to roughly $6 trillion, at least $4 trillion more than earlier estimates. That price tag includes $2 trillion for direct assistance, and roughly $4 trillion in Federal Reserve lending power. Kudlow said this will be the single-largest such main street financial package in the history of the country.
That is bigger than the entire yearly budget of the federal government, and about one third of the total GDP of the United States. So. Kind of a big deal.
Trump might be responding to the stock market, which had its biggest positive jump in history just on the news that they might pass a stimulus bill to keep companies open and people employed. I imagine this little announcement might nudge the Dow into positive territory again tomorrow.
You can watch the whole presser here.