- Economic adviser Stephen Moore said he “is not so sure we need this huge stimulus account” with checks for $ 2,000 at stake.
- After Congress finally approved the second coronavirus stimulus package, which included checks for $ 600, President Donald Trump urged lawmakers to agree on $ 2,000 checks for Americans.
- Economic recovery does not depend on the stimulus, suggested Moore.
- “We just need to spread the vaccine,” he said. “And we need to open business in New York, Los Angeles, Chicago and San Francisco.”
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Stephen Moore, an economic adviser to President Donald Trump, is arguing against a “huge stimulus project,” according to The Hill.
In an interview with businessman John Catsimatidis on his WABC 770 AM radio program, Moore said that the recovery of the economy does not depend on the pandemic legislative relief package. He will recover “without all government spending,” he said, according to The Hill.
“I’m not sure if we need this huge stimulus bill,” said Moore. “We just need to spread the vaccine. And we need to open businesses in New York and Los Angeles and in Chicago and San Francisco.”
The vaccine implantation effort began in mid-December, immediately after the vaccine from Pfizer and BioNTech received approval from the Food and Drug Administration.
But only about 3.5 million doses have been distributed so far. Susie Neilson, from Business Insider, previously reported that the vaccine’s launch was slower than expected and, at this rate, it will take nine years to achieve widespread vaccination.
Also in December, after months of negotiations and delays, lawmakers finally reached agreement on another coronavirus stimulus package. He came with direct checks for $ 600 to taxpayers in an effort to offset some of the financial devastation caused by the coronavirus pandemic. This was the second aid package since March, when Trump signed a bill that included $ 1,200 in direct payments to Americans.
Since the second bill, Trump has urged Congress to reach an agreement that includes checks for $ 2,000 for Americans. House Democrats immediately accepted the suggestion, but Senate majority leader Mitch McConnell closed it several times. Friday was the fourth consecutive day that Senate Republicans, led by McConnell, blocked the House approved bill that includes checks for $ 2,000.
This is not the first time that Moore breaks with Trump on stimulus. Earlier this week, Moore said the government, with the $ 2,000 boost, is “spending money like an M & Ms”.
“Let me first register and say, it is absurd, the checks for $ 2,000,” said Moore. “It is not a way to stimulate the economy”, he argued, warning: “We are passing on these costs to our children and grandchildren”.
Moore’s comments also contradict warnings from Fed chairman Jay Powell, who said in October that the economy could falter if another stimulus package were not passed in Congress.
“Too little support would lead to a weak recovery, creating unnecessary difficulties for families and businesses,” Powell said in a speech. Powell has consistently urged Congress to approve a stimulus package to help the economy recover from the devastation caused by the coronavirus.
The White House did not immediately respond to a request for comment from Business Insider asking about Moore’s comments.