|Unleash Prosperity Hotline|
Issue # 141
|1) PLEASE, Mr. President, Don’t Surrender to Pelosi’s Stimulus Ransom|
Our friend Mark Meadows, Trump chief of staff, said on CNBC yesterday that “there are some senators who really believe that we’ve done enough for the economy and want zero” new spending.
Yes, Senators (Mike Lee, Rand Paul, Ted Cruz, among others) hold the line. Adding $2 trillion more government spending will NOT revive the economy – it will only grow the government at the expense of the private sector. The private economy is coming back big time. We will get the 30 to 35% GDP growth number for the 3rd quarter next week. This shatters every record and is about double the growth rate that the Fed and the Wall Street economists predicted.
Consumer spending is strong. Retail sales are strong. Real estate is sizzling hot outside of blue states. So is construction. Small business confidence – a great lead indicator on the economy – is higher now than at ANY time during the eight years of the Obama-Biden presidency.
We hear that the Democrats want TWICE as much money in blue state bailout funds than the entire loss of revenue by state governments over the last nine months of the pandemic. We hear Pelosi wants $450 a week in supplement unemployment benefits – that pays about two-thirds of workers who are unemployed more money for staying unemployed than going back to work. That’s a fine way to sabotage a recovery.
Most importantly, the feds have already spent upwards of $2 trillion of stimulus this year. The deficit has exploded to more than $3 trillion – putting a hefty bill on the backs of our children and grandchildren. There is NOTHING in the stimulus package that is pro-growth. No supply-side tax cuts. In fact, Biden wants to pay for the $2 trillion stimulus in future years by raising tax rates on investors, American corporations, and small business owners.
Trump should stick with this message: Nancy Pelosi held a relief package hostage to get a $400 billion bail-out of bankrupt blue states and cities. It is American policy that we don’t negotiate with hostage-takers.
|2) How’s Your Governor Doing?|
ALEC has updated its fiscal and economic report card on the governors for 2020.
Governors have had a huge role in safeguarding the physical and financial health of their citizens this year and they have deployed a wide range of strategies to combat the virus while keeping their economies functioning and balancing their budgets. One resounding lesson from the states: business lockdown policies and stay at home orders have proven ineffective and economically crippling.
This was not a partisan study, but it is telling that only one Democratic governor, Jared Polis of Colorado got the highest-ranking and only two Republicans were in the lowest ranking category: Mike Dunleavy of Alaska and Jim Justice of West Virginia.
Top Governors (best to worst)
Noem, South Dakota
Sununu, New Hampshire
Worst Governors (worst to best)
Raimondo, Rhode Island
Murphy, New Jersey
Justice, West Virginia
Grisham, New Mexico
Our advice if you live in a blue state, do what millions of other Americans are doing and sell your home and get out before it is too late.