| Unleash Prosperity Hotline Issue #3 Written by Stephen Moore 1. 50 Year “War Bonds” Could Save Trillions The federal government will eventually be borrowing somewhere north of $2 trillion and that could be $6 trillion for coronavirus spending if Nancy Pelosi and Joe Biden have their way. White House economic adviser Larry Kudlow told Axios on Tuesday morning that one way to handle that could be to refinance its debt at the current very low interest rates. President Trump also said Tuesday night at his press briefing that any new spending should be financed by “one or even zero interest bonds.” Hmm. Where did this idea come from? A few weeks ago former Speaker Newt Gingrich endorsed this plan in the New York Post: https://nypost.com/2020/03/23/heres-a-painless-way-to-save-taxpayers-trillions-amid-coronavirus-pandemic/ These low-interest rate bonds could save trillions of dollars in borrowing costs over the next decade. Of course, it would be even better if Congress stopped the trillions of dollars of deficit spending! 2. What’s another quarter trillion bucks among friends? The original $350 billion for small business is going so fast that the administration has asked for another $250 billion that the Senate will “vote” for as soon as tomorrow. And by vote they mean adopt unanimously while Congress is out of town. We get it, but the only real rescue for small businesses is letting them actually engage in business, and soon. https://www.cnbc.com/2020/04/07/mnuchin-seeks-250-billion-more-in-small-business-aid-as-senate-vote-is-planned-for-thursday.html 3. Quote of the Day “The Swedish government has not shut down society, as so many other EU countries have done…Sweden now offered the clearest alternative to dictatorial behavior: we remain committed to the open society.” Swedish columnist P.M. Nilsson, commenting in Monday’s Dagens Industry, on his country’s decision to avoid an economic lockdown. 4. Liberating National Economies from Government Control Is Catching On Bloomberg News has this report: “Italy is beginning to look at easing its lockdown after Denmark and Austria became the first two European countries to loosen restrictions as governments seek to gradually revive economies crippled by the containment measures without risking a second wave of infection. Italy, the original epicenter of the outbreak on the continent, has begun to plan for emerging from the lockdown as new deaths and cases flatten out. Selected firms could open in mid-April… Norway will also move to ease restrictions, Prime Minister Erna Solberg said at a press briefing on Tuesday.” https://www.bloombergquint.com/politics/denmark-joins-austria-in-easing-virus-curbs-as-europe-cases-slow 5. Trump Administration to New York Times: You Carp, We Save Lives And Lower Prices The Trump Administration continues to push its deregulatory agenda during the virus crisis. Last week they made the April 1 statutory deadline for new fuel economy rules. It went largely unnoticed with the virus dominating the news, but the NYT reacted with its usual hysterics. But James Owens and Anne Ideal, who helped fashion the Administration’s new rule easing fuel economy standards, aren’t taking the criticism lying down. Here is their letter to The New York Times: https://www.nytimes.com/2020/04/07/opinion/letters/coronavirus-supplies-kushner.html 6. Non-Hero of the Day: Bill de Blasio With ordinary New Yorkers facing $1000 fines for any non-essential public activities, we present this excerpt from yesterday’s New York Post: “Mayor Bill de Blasio insisted that even during the coronavirus pandemic, he opts to exercise in Brooklyn’s Prospect Park — 12 miles from Gracie Mansion — in order to remain an effective leader. “I go get my exercise like everyone else,” the mayor said on NY1’s “Inside City Hall.”…….On Monday night, he shrugged off the criticism, and defended his inter-borough trips. “This is just something that we shouldn’t focus on. There’s much better things to talk about,” he said.” https://nypost.com/2020/04/06/de-blasio-defends-exercising-in-prospect-park-amid-coronavirus-outbreak/ 7. What, who wrote that? When we saw the Bloomberg headline “The War on Coronavirus Is Also a War on Paperwork. To help medical workers and others, government has to keep lowering bureaucratic obstacles,” we thought that was rare commonsense from somebody working for the mayor who banned everything from salt to large sodas. But the byline was a bigger shock — it was written by Obama regulatory czar Cass Sunstein. If that’s the view from the left, maybe we can actually keep some of the awful rules and regulations we’ve seen suspended from ever coming back. https://www.bloomberg.com/opinion/articles/2020-04-06/coronavirus-war-is-also-a-war-on-bureaucratic-obstacles  Have an idea for an item that should be in our newsletter? Send us any charts, statistics, heroes/villains, or humor that you’d like to see featured! |
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