Treasury Secretary Steven Mnuchin Discusses Coronavirus Relief Bill…

On the heels of more than three million new unemployment claims, Treasury Secretary Steven Mnuchin calls in to CNBC for a phone interview to discuss the coronavirus relief bill that passed last night.

Mnuchin was asked about his reaction to seeing the 3.28 million new unemployment claims reported for the past week during the interview. Mnuchin said, “To be honest, I think these numbers right now aren’t relevant whether they’re bigger or shorter in the short term.”  WATCH:

This entry was posted in Bailouts, Big Government, Big Stupid Government, Coronavirus, Donald Trump, Economy, media bias, President Trump, Uncategorized, US Treasury, USA. Bookmark the permalink.

113 Responses to Treasury Secretary Steven Mnuchin Discusses Coronavirus Relief Bill…

  1. CorwinAmber says:

    The fact of the matter is that Congress can’t spend any of this money…only President Trump can.

    So, methinks our POTUS has decided to go “all in” (poker parlance) on this fall’s election – he will spend whatever is necessary to deal with the WuFlu crisis and drag his feet on all other spending for non-crisis projects. Since this is not a regular appropriations bill to fund various Cabinet Departments thru a fiscal year I don’t believe the funds have to be spent by a date certain. So, when the Kennedy Center vampires approach him for their share of the loot, he will demur and say their plans need some “further study”. Then, when our VSG wins handily in November and brings back a GOP Congress (both houses), he will simply refuse to spend these funds for the good of our country’s fiscal health…and who is gonna stop him once Nancy has to pass the gavel back to a Republican Speaker come January 2021? If the Dimms control neither side of Capitol Hill, then who can bring suit to the Federal Courts for what is largely the old Nixon ploy of “impoundment”? Meanwhile, a new budget cycle will be underway and all of this WuFlu stuff will simply be old news.

    Anyway, that’s my take based upon 42 years of working in the belly of the beast, but, hey, what do I know?

    Liked by 67 people

    • riverelf says:

      CorwinAmber, you know ALOT!! Thanks for the inside view 🙂

      Liked by 13 people

    • Green Bucket says:

      But, if she passes the gavel to another deep state swamp rat like Kevin McCarthy, we will have Paul Ryan 2.0.

      Paul Ryan 1.0 didn’t work out very well, so I hope the conservatives in Congress choose a true conservative that is really on ‘Team Trump’. Anything less is conservative ‘suicide’.

      Liked by 7 people

      • majorkalhoun says:

        The GOP will never allow a true Conservative to rise to the top of the Republican Party in either the House or the Senate. Everyone has their hand in the till and the last thing they want is someone to out them for their graft.

        Liked by 4 people

        • which is why Trump’s promise to drain the swamp terrifies them. His list of accomplishments despite this insane barrier from both sides proves his conviction and his ability.

          the GOP AND the left are both in cahoots and equally terrified.

          Look for McConnell to exit as well as Pelosi.

          Liked by 2 people

      • simplewins says:

        McCarthy will play ball with POTUS. He doesn’t appear to have ryans arrogance.

        Liked by 12 people

        • dbobway says:

          I would like to think Rep. McCarthy has had a come to Jesus moment.
          At least he has publicly and verbally shown POTUS his unwavering support.
          Paul Ryan never came close to supporting our President or his party.
          Paul Ryan can take a huge part of the blame for losing the house.
          Our President wants that pissed off 50 year old, who watches CNN, 24/7 to support him as President because of the job he is doing for her.

          Imagine, Lawrence O’Donnell, thanked the our President in this time of need,
          Along with Rachel, Joy, Jake, Joe, Chuck and Brian said the same thing too
          With a killer virus below us, above us only truth.
          Imagine all the people, I wonder if you can,
          Are grateful for his effort, watching over me and you. Yoo hooo.
          You may say I’m a Dreamer, but I’m not the only one.
          Where the United States of America, could be as one.

          Liked by 2 people

          • Green Bucket says:

            Kevin McCarthy still votes against Americas interests as often as he can – he is NOT to be trusted, ever. If Mitch McConnell wants him as speaker – that screams SWAMP RAT to me! Jim Jordan, Elise Stefanik, Doug Collins would all be great.

            As far as imagining.. my daughter is a Respiratory Therapist working in the San Francisco Bay Area – she is truly a front line worker during this crisis, and yes, I imagine (hope and pray) we can come through this and return to life with some sense of normalcy. I don’t know if the Deep staters will allow that – now that we’ve give them complete control, it’s going to be very difficult for them to give it up. We cannot allow this to become the new norm..

            Liked by 5 people

            • dbobway says:

              God bless your daughter. I have many friends in the medical field, who have been miserable working under the thumb of Obamacare. Many are Democrats, and have excepted their fate. I hope we can come out of this with with a renewed appreciation for a capitalist health care policy. There is so much money going to the wrong places, and our Healthcare workers and especially our patients are getting the short end of that money. It is not so much about pay, but having their hands tied to do the work they went to school and dreamed about saving lives.
              Healthcare professionals should be a desired career and because of multi layered bureaucracy, they are filling out more paper work than doing their job.

              Liked by 2 people

          • Ninja7 says:

            dbobway, I must have missed Jake, Joy etc thanking PDJT. Can a reference be provided, Please.🤔 Not attempting to be snarky, just am ignorant of this information.
            If True miracles never cease🤗🤗

            Like

      • CarolynH says:

        McCarthy may not be as conservative as many of us would like, but he is no Paul Ryan. He has had Trumps back pretty much from the start, he spent many weekends at Mara Lago during first part of admin before Ryan resigned.

        Liked by 4 people

      • abstain says:

        Kevin McCarthy has been royally pissed at the antics of the Dem controlled House.
        He sees the Speakership in his future, and I think he’ll be okay. He’s no Paul Ryan.

        Liked by 2 people

    • delighteddeplorable says:

      Corwin, your is the only explanation I’ve heard that squares with POTUS’ consistent approach to problem-solving. Impossible to believe he’s ok with all the pork, but the approach you describe makes perfect sense.

      Liked by 12 people

    • nats1mom says:

      Thank you CorwinAmber! VERY informative read. I learn something new here everyday which is why I LOVE CTH and Sundance.

      Liked by 10 people

    • scrap1ron says:

      Corwin, I pray that you are correct. However, we must be certain to do our part and fight to re-elect President Trump. He and his closest advisors/supporters are the only ones I have any faith in. This man is taking on the entire globalist world.

      Liked by 13 people

    • Pa Hermit says:

      We are now looking at another crack at impeachment. They will dig into how POTUS reacted to this pandemic and go for another round of “get rid of Trump at all cost!”

      Like

    • 4sure says:

      I don’t think that will fly. The SCOTUS has outlawed line item veto budgeting and what you are describing is merely a workaround which will not pass legal muster. Putting stated amounts of money going to named entities(Howard Univ. JFK Performing Arts Center, NPR etc.) is not discretionary and I don’t think Trump or anyone else can stop the funds from going there. To stop the funds would take an act of congress.

      If the POTUS could do as you say, then there would be no need to ever haggle over a spending bill by the party in the WH. And while this is not a regular budgeting bill, it is still a spending bill that must be passed by both the House and Senate. The POTUS HAS EVEN LESS power over this bill than over a regular budgeting bill.

      With this 2 trillion dollar PORKULUS spending bill, POTUS TRUMP will have spent more in 3 yrs. than Obama did in 8 yrs. At some point it has to stop.

      And Peelosi is already saying more will have to be spent. So, she will end up funding all her special interest and commie projects. She knows she has hit the PORKULUS lottery w/this chicom virus.

      As President Trump is fond of saying, “we will see.” By the way, I love it when he says that.

      Liked by 1 person

      • CorwinAmber says:

        I hear ya and I don’t necessarily disagree with ya, but “foot-dragging” is a time honored bureaucratic technique (ask any Colonel who comes in to command a U.S. supply depot full of civilians…by the time the Commander figures out the system, he’s on his way out, after being allowed to accomplish only what his civilian staff was willing to put up with [geez, the stories I could tell ya, SMDH])

        So, that being said, with this much money at stake and 883 pages of gobbledygook to work with, POTUS will have to prioritize: I can just hear him now – “I don’t have time for a new roof for the Kennedy Center, I’m trying to save lives and businesses right now!” And, as I mentioned, he is “betting on the come”, so to speak, that he will win re-election & Congress in 7+ months, at which time the excesses can be undone under his leadership. Funds don’t need to be stopped, they just need to be “delayed”…seen it happen many times (thank goodness for 200 new Federal judges along the way which can slow down the express train of adverse judgements until new elections have consequences) But I could be wrong…wish me luck I guess

        Liked by 2 people

    • YvonneMarie says:

      Where do you work ?

      Like

    • romy911 says:

      The Kennedy Center – our VSGPDJT announced he will appoint Jon Voight and Mike Huckabee to the Board of Directors,

      Liked by 3 people

    • wlbeattie says:

      That’s one of the most hopeful comments I’ve read in a very long time!
      Thanks for the heads-up and morale boost!

      Liked by 1 person

  2. DJ Snyder says:

    Sounds like the bill isn’t a poison pill for the economy like some were fearing…

    Liked by 5 people

  3. Publius2016 says:

    Banks have no liquidity…no payrolls…no cash deposits…

    hospitality, entertainment, leisure decimated…

    this is called: CASH!

    Mnuchin is GENIUS…only SAD 45 is being discriminated against…his family too…Future Presidents, Trump Organization and Kushner LLP unfairly targeted by Uniparty!

    Executive Signing Statement appropriate!

    Liked by 12 people

  4. gawntrail says:

    I roll with POTUS. What ever he thinks is good enough for me. MAGA!!

    Liked by 17 people

  5. The Demon Slick says:

    If we start it up again, are all those people going back to work going to be counted as new jobs? I’m not worried about it either. I know a lot of working people, a lot were laid off so that they could get the generous unemployment benefits. Before they were working reduced hours or in some cases being paid but not working. This just shifted their money to the government off the employers. And it’s not for very long. Another week or 2 and it’s over. Everyone back to work. If you feel unwell report to the nurse for your chloroquine and zpacks. Take it and get back to your desk/assembly line/ truck/garage bay.

    Liked by 8 people

    • Publius2016 says:

      Ready to go…The Virus was not as deadly as Deep State hoped…

      they really planned for tens of millions…go to Event 2O1 for details

      Liked by 8 people

      • Dwayne Diesel says:

        Yes, the Gov. of CT had his office contact companies with refrigerator trucks so that they can be ready for the stacks of bodies that are going to die. I’m not kidding. My wife’s good friend owns a major moving firm in CT. He’s a VP of Transportation and Logistics. He received a call on Saturday asking his company to reserve 7-9 of their refrigerated trucks for dead bodies from Wuhan because the state is on the verge of running out of space. On the verge….those were the words used. Yet, we only have 12 maybe 13 dead in CT.

        Liked by 5 people

        • Your Tour Guide says:

          Dwayne:

          It would be reaaaallll interesting to look at this and some
          similar contracts. Does anybody else smell the opportunity
          for kickbacks?

          Some rules of thumb:
          1. Sudden “necessary” need for a contracted good.

          2.”Need” very likely didn’t exist prior.

          3. “Overlooked’ situations create the need.

          4. “Overlooked situations” can be needs for
          school buses, because you placed the
          school away from any nearby housing
          stock.

          Or elevation of building with fill dirt or steel
          framed stilts because they flat didn’t notice
          it was sitting at the epicenter of a less then
          100 year flood plain.

          Many more “overlooked situations” exist.
          5. All of the above results in some good or
          service being required. Generally at
          relatively short notice.

          6. Which can results in a “name your
          price” situation, with a wink.

          7. The wink indicates that some of the
          price named will return to the person
          or entity brokering the deal.

          Anyway, that’s how the game’s played around
          these parts. Be On The Look Out Nationwide
          for similar patterns. We have time on our hands.

          We can use it to make these jerks accountable.

          Liked by 2 people

        • Snow White says:

          Those politicians were lying through their teeth. Causing unnecessary fear in people.

          Liked by 3 people

        • old45model says:

          DD, this has shades of the Port Arthur massacre in Tasmania written all over it.
          If anyone cares to do a bit of research, they will find that the Tasmanian Government ordered a super duper ‘morgue’ truck, well in advance of the shootings – then sold it not long afterwards.
          How coincidental the Govt. members had such foresight. /s

          Liked by 1 person

    • Guy-Blanc Déploré says:

      Another week or 2 and it’s over. Everyone back to work. If you feel unwell report to the nurse for your chloroquine and zpacks. Take it and get back to your desk/assembly line/ truck/garage bay.

      Really, really hoping it’s this. Pretty much the way I’m thinking/hoping it shakes out. I’m mostly ok with the shutdown/quarantine because it’s buying time needed to set up this scenario. Time to produce & test the drugs, time to make the masks, ventilators and other things needed in case the Panda-demic takes a worse turn than expected. Time to gather hard statistical & scientific data too.

      I think POTUS & co. are pretty close to the mark when he talks about an Easter time frame for a restart in many though maybe not all areas of the country.

      Liked by 9 people

      • Mr e man says:

        It IS that, but the media and the Democrats will never allow that relief to the economy. Right now, they are in liberal heaven. People are hurting because of government actions, and they need to rely on government to get relief. The government has seen how powerful they are to take away your freedoms instantly and now they control trillions of dollars they can disburse to the winners and losers they choose.

        Telling everyone what to do and controlling money to make them is the liberal dream. They can expedite their plans and plant the seeds for a liberal socialist takeover, and they get to hurt President Trumps MAGA economy during an election year in the process.

        They could care less about the people hurting. This is their dream scenario. They want it to go for months. All they need to do is spread fear and accuse anyone in their way of wanting to kill people.

        Like

      • Eileen McRae says:

        However, I think he is going to be thwarted in his plans for an Easter opening of the country. FEMA in DC sent an urgent warning to all citizens stating that they would be shut down until April 29, I believe. So when one state does it, you can be assured other states will do so immediately. They are setting the DATE to reopen the country! Not the President. Why are they doing so? Your guess would be the same as mine!

        Liked by 1 person

        • buzzybee says:

          I think you make a good point here, Eileen. Deep state wants to keep this shut down as long as they can. However, does FEMA order the POTUS around? I rather doubt it, but as PDJT says, we will see. We have separation of powers. Last time I checked, bureaucrats do not have more power than the Executive Branch.

          I think you’re right about the states though. They behave like lemmings, depending on their pandemic issues and who the governor is. Oregon is mostly shut down until further notice, to the tune of a Class C Misdemeanor for noncompliance. How they’ll enforce it remains to be seen. The extra restrictions began last Monday.

          I’m going out today to get a few groceries. If we want dinner out, it is take out only. A few businesses have shut down for 2 weeks. Others have curbside pickup for online orders. And I mean material supplies for those. I do not know yet if my local hair salon will be able to reopen.

          Liked by 1 person

        • My take varies but we will see.

          Like

  6. IGiveUp says:

    WaPo’s Bezos And Other Corporate Execs Sold Billions In Stock Before COVID-19 Rocked Market

    ‘Thousands of insiders sold stock…’

    https://www.zerohedge.com/markets/bezos-and-other-corporate-execs-sold-billions-stock-covid-19-rocked-market

    Liked by 9 people

    • CorwinAmber says:

      they will pay taxes on their capital gains…and then where will they put their money in the meantime? Savings account at 0% interest? Mattress? I don’t know about the rest of you, but if some “expert” had come to me last month and told me to sell everything before the “deluge”, I doubt if I would have made a move for the reasons stated above. That being said, I “lost” more wealth on paper than I ever thought possible in such a short time, yet I remain optimistic about the economic future of this country under President Donald Trump, so I used this “correction” to make some long term equity investments I’ve been eyeing for quite a while.

      Did I do the right thing? Only time will tell, but let’s see what happens, as our VSG likes to say.

      Liked by 13 people

      • willthesuevi says:

        I have not participated in the stock market in years. My brother and I have been rounding up cash as fast as possible and have both jumped back into the market “BIGLY”.

        Our Broker looked like the “last chapter of what’s the use” after the past few weeks. He has been getting beat up pretty good by clients freaking out. When we carried a couple of nice checks into him last week, he barely cracked a smile.

        Today he is back on his game and ready to rumble. He pulled on his boots, reached down and grabbed a pair, and is back to working his business by revisiting the fundamentals.

        It ain’t going to be easy, but it will be rewarding.

        Liked by 2 people

      • Mr e man says:

        Sell right before the downtick and buy it back right before the uptick.

        Like

        • GB Bari says:

          Yeah sure.

          And the tooth fairy will deliver your profits.

          Liked by 1 person

          • Peoria Jones says:

            It sounds so easy, we should ALL be doing it! 😉

            Liked by 1 person

            • old45model says:

              PJ, the astute do make it ‘sound easy’. A lot of study and intuition certainly helps.
              Some people have a knack for it, many don’t.
              What I’ve found is a simple enquiry to a broker (here in Oz) can either result in a climb (or a fall) in the market the next day. Rumour and innuendo are rife in the industry, unfortunately.

              Like

              • GB Bari says:

                “Some people have a knack for it, many don’t.”

                Very few people have a “knack” for it; the overwhelming majority don’t.

                And when investigators dig down a bit, that “knack” more often than not turns out to be illegally used inside information.

                Like

  7. Vince says:

    Nancy is already planning more. If there is another bill, the only thing in it should be some money for long term disability to keep immuno-compromised people safe at home. Nursing homes are already locked down. Retired people can stay at home. The rest of us can get back to work.

    Liked by 3 people

    • Green Bucket says:

      So, are we going to lay everyone off and shut down every winter during flu season because 1000 people die? Or, are new viruses only a big deal when a Republican is President? We know the answer.

      Can we fire every single talking head in the media for whipping everyone into a frenzy? They really are the enemy of the people… start by turning them off!!

      Liked by 15 people

      • dawg says:

        This times 100000000!!!!!!!!

        I think more and more people are coming to this realization everyday.

        PTrump looking more reasonable and credible every day while media is losing it every day.

        Liked by 8 people

      • waterthelibertytree01 says:

        These networks need to be delisted, de-commed from the airwaves. Pronto. THey keep raising their rebroadcast fees twice a year if you own cable. The cablers keep passing it on…..their messaging is more far reaching than big brother. They have revealed themselves to be the enemy of the people and they should all be brought up on charges of Conspiracy/Sedition vs the USA.

        Liked by 1 person

        • buzzybee says:

          One of the reasons we do not use cable. We have Netflix, but seldom watch that. We get our news online (CTH is one). And we enjoy DVD movies. Other than that, we read books. And magazines.

          Like

  8. Reserved55 says:

    Not Nanzi

    Liked by 9 people

  9. JohnCasper says:

    Politics is the art of looking for trouble, finding it everywhere, diagnosing everything incorrectly and then misapplying all the wrong remedies.
    – Groucho

    Liked by 13 people

  10. treestar1313 says:

    A pretty positive interview. No Trump bashing!

    Liked by 4 people

  11. Reserved55 says:

    Click Michael Walsh tweet

    Liked by 4 people

  12. woohoowee says:

    The best is yet to come! — PT45

    Liked by 10 people

  13. Sentient says:

    Important thread:

    Liked by 8 people

  14. LawDawg says:

    Initially , Mnuchin stated April 6th , as well as additionally May 18 for payments … Were now down to just the one influx of stimulus within 3 weeks ?

    Like

  15. pucecatt says:

    I firmly believe the American people were bamboozled about how deadly this chinese virus was . It was all about damaging Potus and hurting his supporters in particular, they know we all work for a living , this is a freebie for their supporters full stop . #TRUMP2020🇺🇸

    Liked by 10 people

  16. pucecatt says:

    I firmly believe the American people were bamboozled about how deadly this chinese virus was . It was all about damaging Potus and hurting his supporters in particular, they know we all work for a living , this is a freebie for their supporters full stop . #TRUMP2020🇺🇸

    Liked by 5 people

  17. Chip Doctor says:

    Do I understand correctly that all hotels will get help with the exception of Trump Hptels?

    Liked by 5 people

  18. wodiej says:

    PT knows strategy. He appointed an entire team of experts in each field. Except for an occasional rotten tomato, he has people where he needs them most.

    Liked by 7 people

  19. stats_guy says:

    thread about the order of magnitude reduction of death forecast by the UK modelers.

    oh, and those that are projected die…many would have passed by the end of the year anyway because they are old and sick.

    That’s not to diminish the deaths of the young (there was a 30 year old woman that died a few days ago locally which was very sad).

    I was happy to see that the rabidly leftist/cynical press is getting poor marks in the Gallup poll. Everyone is trusted in this, hospitals, Trump, Congress…except the press which is underwater by 11 points.

    But to be fair, their business model (clicks and eyeballs) doesn’t depend on trust. Hate clicks are just as valuable to them…ie hate traffic is traffic. They don’t care if you love or hate, just make sure you watch the ads.

    Liked by 4 people

  20. DDMeow says:

    Does the President have any power to NOT ALLOW all the money in the Stimulus Bill to spent? Can he cancel monies going to certain things and deactivate or retract by Executive Order some of the bills provisions?

    Can PDJT issue SIGNING STATEMENTS that contest certain parts of the bill when he signs the Bill?

    Liked by 1 person

    • GB Bari says:

      Read the first post in the comments.

      Like

    • CharterOakie says:

      Similarly, I’ve been wondering whether the declared state of emergency and/or invocation of the Defense Procurement Act provides exactly those kinds of powers to the president.

      Would not surprise me at all to find out that VSG POTUS and team know those parts of the law better than the lawmakers.

      Liked by 1 person

  21. repsort says:

    This is all so disgusting. All the printing and Fed manipulation, promising to BUY EVERYTHING.
    I’m just shakin my head. Makes me wanna puke.
    This s#!t was never allowed to clear back in 08.. Fed pumped and pumped through the O years…
    Trump came along, diagnosed it correctly as a big fat ugly bubble, then took power and cheered on even MORE of the same games to pump asset prices. Sick. What a warped, pos, dysfunctional economy… The oil war exposed how fragile it all was, the virus popped it and now in a panic the Fed is throwing whatever it can at the hole to plug it.
    Might work. They’ll get a HIGH stawk price out of it.
    Question is, what’s your money gonna buy you when we get back to 30k? Not much, is my guess.
    If Trump manages to win, and I think he probably will. He’s got to obliterate China, DEFAULT – let everyone take their lumps, and roll out a new currency backed by something real so those bastards can’t play games with it, and let us get on about our biz with a free market economy.
    What you’re watching is socialism/fascism/statism on a scale that Bernie couldn’t even dream of.

    Liked by 2 people

  22. TwoLaine says:

    They had a Mike Lindell, My Pillow founder & CEO, interview on OAN this AM. He’s hiring. He’s got his manufacturing crews in 4 states retooled and making 50k masks per day. He is a happy warrior.

    Liked by 16 people

  23. California Joe says:

    JUST END THE DUMPSTER FIRE! Declare victory soon because of anything and end it! No matter what President Trump does the Democrats and news media are going to blame him for every death. Whether it’s 100 deaths or 10,000 it won’t matter so President Trump please jump start the economy and get people back to work. A strong economy will save your reelection not the number of Coronavirus deaths.

    Liked by 2 people

  24. CM-TX says:

    Theory on all the supposed resignations of big name CEO’s in recent months. They were well aware the SHTF Coronavirus was incoming. They got out ahead of it, BEFORE the big loss of revenue.

    Why? B/c they have huge golden-parachute$ written into their contracts. IOW, Get their money while the gettin’ is still good.

    It has NOTHING to do with secret-arrests, etc. as some would have you believe. It also means these POS’s KNEW!!!

    Liked by 3 people

  25. amwick says:

    CorwinAmber positively nailed it.. I was thinking pretty much the same thing… I have to believe that Rs will take over the House, keep the Senate, and of course, our VSGPotus will be re elected. Any and all the bs they shove through now ,well, it can be temporary.. It must be temporary!! Their evil will not stand.

    Liked by 8 people

  26. romy911 says:

    I feel pretty optimistic about the success of the Small Business Loan policy in the bill.
    Portions of the loans for small businesses turn into grants which don’t have to be paid back.
    Grant eligibility includes mortgage expenses, rent expenses, payroll expenses & utilities.
    Small business loans may keep businesses from furloughing people thus decreasing the number of people claiming unemployment. Employers have to continue their payroll for the loan to be forgiven.
    Low interest loans for lost revenue that is not forgivable,

    Liked by 1 person

  27. romy911 says:

    Also health insurance expenses will grant eligible.

    Liked by 1 person

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