The president will address the nation Wednesday night, a speech that is likely designed to calm fears and grease the wheels for an economic stimulus package that may include payroll tax cuts to help Americans, along with possible tax cuts for businesses associated with the travel industries.
It’s a necessary and needed measure. Our markets today proved how nervous investors really are. One source told me President Trump needs to be seen and heard from on this issue and that Vice President Mike Pence’s appearance at yesterday's press conference only caused the market to worry about whether Trump was appropriately worried enough, even causing some traders to question the health of Trump himself.
Sadly, and you know how much it bothers me these things get so politicized, I do not think these measures will be, shall we say, appreciated, by Democrats. Already, we’re seeing pushback by the left in the mainstream media.
That said, I remember an $800 billion stimulus package from former President Obama in order to help America get over the 2008 ordeal that got a very different kind of reaction from the left.
The left would like to see taxes go up, I suppose so that the government can decide where to dole it out. However, this is a Republican president who stands for a different set of economic principles. As such, he’s looking out for people, and he’s looking out for businesses that employ people. The idea is to give everyday Americans more spending power and businesses more flexibility.
Today, Italy announced 2,313 new cases and 196 new deaths, causing the government to take drastic measures to shut the entire country down, with the exception of pharmacies and food stores. It is clear Italy, and thus, the EU, does not have a handle on this.
So why on Earth are we still allowing flights in from Rome, I ask? The U.S. needs to do what Israel did: Demand a 14-day quarantine for anyone entering. Period. It will be economically painful, but so be it because the alternative is worse.
Finally - I say all this without the intention of alarming anyone. I do not like how some in the media are scaring people. That is totally irresponsible. However, why not take every precaution?
Tonight, we might find that Trump does just that.