Steve Moore 3-22-20
Good Morning America. This is the catch roundtable chunk. Cats Matiz here. Well we have problems. We had to corona virus but that leads into economic problems with us. Today is our country's leading economist. Author a strategist works with the president and runs the committee to unleash prosperity. That Larry Tunnel became. We have Stephen Moore Stephen. However you quality tough week. You're right about that But I'm hanging in there and I think that You know we had a very good Conference call with you and Some of the other top economists in country and I think that You summarize the current situation best which is until we get this virus under control until we get some testing and treatments. It's GONNA be some tough sledding for the economy. We've gotta get the we gotta get the thing contained once we do? I really confident that our economy will bounce back but this go on for a couple of months. No I think the problem has to be solved as I said on the conference. Call over one hundred leading Journalists and financial type people on the conference for a conference. Call that unless we solve the problem next thirty days. The recovery. Going to be harder while I don't think there's any question about it. You know I mean you've got in Washington DC where. I live where I am right now. It's a ghost town to go anywhere near the capital or anywhere near the business district and I have You know My son lives in San Francisco. And they're in total lockdown in California and New York is basically in lockdown and not essential businesses. So this is going to take a real toll on the economy. There's no question about it and my point that I've been making is that I think this can't last more than three weeks or else. The damage of Shutting Down Shutting Down Workers Shutting down factories. People losing money on their role as we'll be so significant that the cure may be worse than the disease so we have to find a treatment for this disease so we can get Americans back to work because we have the greatest amock engine. I've heard you say there's so many times America's the greatest economic engine and the history of the world. We cannot keep it shut down agree. One hundred ten percent and You know I think it should be reflected to president trump That on the conference call home along with the one hundred. The people on the whereas yourself Stephen Moore Dr Laugher Kevin Wash the Federal Reserve former blood and anybody else. We had to well. We had in any audience. You know. People like Bernie. Marcus the founder of Home Depot. Some really smart people. Everybody's concerned it's not. Just you know big businesses. It's small businesses that are being affected. I have friends who invested their lifetime savings in a restaurant or a bar or a retail establishment. And you know they don't have any customers coming into the door. So you know there's no revenue and you know you compound that Throughout the economy. And you take a real hit you know we saw about a couple of million people signing up for unemployment insurance this week. You know those numbers are even GonNa compound in the weeks to come. We might you know rights the twenty million people signing up for unemployment insurance if people can't go to work so Job One is to find a find some kind of screening mechanism or a task and job to is. Then get the economy as you know. The Congress has moved along in terms of passing trillion dollar. Rescue package you know. It's mostly relief in the short term. You know the twelve hundred dollar checks for people and some aid the businesses. That's fine but you need longer term. You know relief as well. I you know we need to have a what we call a v-shaped recovery which means you know we go down steeply because of the shutdown of the economy and the corona virus but then wants to Dover we wanna just you know sore out of this as quickly as possible and I think we can. I think we've got the policies in place to do that. I would like to see the replacement of the suspension of the payroll tax to give employers like you a little extra incentive to hire more workers and then you you know 'cause you're talking about a seven and a half percent reduction in your payroll costs and then you do something similar for workers where they get to keep seven percent more of their paycheck because you know workers are going to be hard airport. You know a lot of middle income and lower middle income. People are going without paychecks. That's that's a lot of financial strain on families. I agree with you and my position was that we need a solution next thirty days because enacting to be able to shut down New York City in Shutdown California and New York state forever. We need a solution and whatever we have five or six. Different drugs available I think the doctors have to the decision of which one is the best one or and and try out and try it out with the people that are very sick. That have a chance to live with those drugs and people see some possible. Blue-sky got a thankfully. This project signed into law. I think it was a year or two ago. Something called right to try. That people should have the right to try drugs and treatments If they have some kind of virus or some you know cancer or something like that. I always thought that was a very smart thing to do. And let people try some of these treatments. And you know we are seeing some promising results in the laboratories right now and the clinical trials. So let's rush them out and by the way one of the things we need to do John is. We need to have a kind of A blanket waiver on liability so the companies aren't getting sued so that the drug companies don't get sued because that only delays the introduction of these badly needed treatments. I agree with you. You one hundred ten percent so part of president trump solution should be willing to try these drugs and the the government will indemnify them companies from any liability Steve Moore. Let's pray for our country and hopefully we have a solution by Monday from Washington and let's catch up again after that okay. John Agree weekend naked.