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| Unleash Prosperity Hotline Issue #8 1. Washington Post reports on our efforts to Open EconomySome excerpts:”The outside effort from conservative groups is expected to be led by Stephen Moore, a conservative at the Heritage Foundation who is close with White House economic officials; Jenny Beth Martin, co-founder of the Tea Party Patriots; Adam Brandon, president of FreedomWorks, a conservative advocacy organization; and Lisa Nelson, chief executive of the American Legislative Exchange Council, a conservative organization with ties to the Koch Brothers, according to the three people, granted anonymity to reveal details of an effort that had not been publicly revealed.”These conservatives warn the sustained economic downturn could do more damage to Americans by destroying their livelihoods, and that the economy can be reopened safely.” 2. Fox News reports that the Council to Reopen America, officially named today, will be:WH Chief of Staff Mark Meadows, ChairmanTreasury Secretary Steven MnuchinCommerce Secretary Wilbur RossAgriculture Secretary Sonny PurdueTransportation Secretary Elaine ChaoEnergy Secretary Dan BrouilletteLabor Secretary Gene ScaliaHUD Secretary Ben CarsonU.S. Trade Rep Robert LighthizerActing OMB director Russ Vought CEA chairman Tom PhilipsonNEC director Larry KudlowDirector of Trade and Manufacturing Policy Peter NavarroDeputy chief of staff Chris LiddellJared KushnerIvanka Trumphttps://www.foxnews.com/politics/trump-decision-economy-task-forceWe are thrilled that Larry Kudlow (an original co-founder of Committtee to Unleash Prosperity) will be a key member of that task force. It’s also reassuring that Mark Meadows — a strong free-market champion and co-founder of the House Freedom Caucus — is leading the council. That is cause for optimism. We are hearing that there will also be private sector advisors added. I hope to see Arthur Laffer on that team! Stay tuned… 3. Every Day More Businesses Close ForeverThe National Bureau of Economic Research just surveyed over 5,000 small businesses and its findings underline the importance of reopening the economy.https://www.nber.org/papers/w26989If the shutdown lasts until early May, the Bureau’s survey found that only about 70 percent of small businesses expect they would still be open at the end of the year. But if the crisis lasts into the fall, the expectation of remaining open by the end of the year falls to just 38 percent.Restaurants are particularly vulnerable. The restaurant industry seems particularly vulnerable to a long crisis. Owners report that if the crisis lasts six months, only 15 percent believe they can survive. Owners of lodging and tourist establishments says their chances for survival are only 27 percent after six months. 4. Answers on anti-malarial drug hydroxychloroquine (HCQ) coming soonGovernor Kristi Noem of South Dakota has long been one of our favorite chief executives, never more so than when this month she declined to lock down her entire state. She cited both her state’s particular circumstances and her belief a full lockdown would violate the Constitution. Now she hopes to help provide answers on the effectiveness of HCQ.Noem plans to conduct her own HCQ trial open to any doctor who wants to prescribe the drug, along with the antibiotic azithromycin, to any COVID-19 patient who gives informed consent. She said she had received enough doses to satisfy demand in the state. “We’re going to let the science, facts and data drive our decision-making in South Dakota,” she told reporters. https://www.foxnews.com/politics/south-dakota-implements-statewide-hydroxychloroquine-clinical-trial-for-coronavirus-treatmentWe also expect the first results from the New York trials soon. Interpret those with caution; there is growing evidence that the drug is most effective in the first week of the disease, while Cuomo banned its outpatient use and the New York trials enrolled only hospitalized patients. 5. Quote of the Day – George Gilder:“The demands of health-care experts are not greater than the demands of the economy, for a very simple reason: The health-care system is not separate from the economy but a crucial part of it. The health-care system saves lives; the economy provides everything we need to live. The damage being done to the economy—if sustained—could easily cost more lives world-wide than the coronavirus.”https://www.wsj.com/articles/we-need-politicians-in-a-pandemic-11586710824 6. Higher education update!  |
