White House plan for economic response to coronavirus is 'not there right now,' officials say

[turbinetree]

Source: CNBC

PUBLISHED TUE, MAR 10 20208:04 AM EDT UPDATED AN HOUR AGO
Eamon Javers
Mike Calia

KEY POINTS

The White House is far from ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials said.

The revelation comes as U.S. stock futures pointed toward a rebound following President Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works.

However, inside the administration, some officials were stunned by Trump’s claim that he would hold a press conference Tuesday to announce an economic plan as the actual details remain up in the air.

WASHINGTON — The White House is not ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials told CNBC.

The revelation comes as U.S. stock futures pointed toward a sharp rebound at the open Tuesday following the Dow’s 2,013-point drop Monday and President Donald Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works to mitigate economic damage from the virus’ spread. Trump has also invited Wall Street executives to meet at the White House on Wednesday to discuss the response.

However, inside the administration, some officials were stunned by Trump’s claim Monday that he would hold a press conference Tuesday to announce an economic plan. “That was news to everyone on the inside,” one official said.

The actual details of any plan remain up in the air. “It’s not there right now,” an official said. “A lot of details need to be worked out.”



Read more: https://www.cnbc.com/2020/03/10/coronavirus-trump-plan-for-economic-response-not-ready-officials-say.html

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I am just shocked..........................not really..................the red hat team is nothing more than photo shoots........................of more BS.........................of putting out propaganda...................they have no plan..........................

November 3, 2020 and January 3, 2021 cannot get here fast enough...................

[Zoonart]

1. A payroll tax cut is a back door entitlement cut.

They never stop f@*$ing us over. NEVER for one minute. Even national tragedy is viewed, by this Mal-administration as an opportunity for them to ratf@#%.

So over all of this. Why are Democrats not pointing out how unfit this monster is and demanding his immediate RESIGNATION?
ps: I know he won't go, but we need to amplify the alarm bells.
For example... the news of Bill Clinton's BJ was to out there a week, before we heard demands for his resignation. WTAF?

[MissMillie]

9. nothing back door about it

he already said he was planning to cut entitlements.

I assume he thinks that now he has an excuse.

[Bengus81]

12. Exactly...Trump and Republicans will never just kill off SS and Medicare outright

They'll do like they're doing with the ACA,just keep trashing it until it's worthless. So...slowly keep de-funding SS and Medicare until they go broke.

[lavenderdiva]

18. This is exactly the workaround they used for Abortion Rights

just keep whittling away at the larger issue with smaller, incremental bills that take away rights, until the larger issue is no longer sustainable.

[Harker]

2. Typical Trumpsky.

Show up with a bunch of 'experts' and do all the talking.

Let them scramble, and try to straighten things out later.

Fire them.

[bucolic_frolic]

3. By 1943

FDR gave at least 898 press conferences. Trump? What? Four a year?

[SWBTATTReg]

4. Again, this admin. has been harping for the longest time about a tax cut for us 'regular' people,

kind of a lower class '2017 tax cut and jobs bill' thing, but as you can see, that's it. No work, no preparation, nothing even remotely done on anything for us. Nothing. Goes to show you just how prepared they are in case of natural disasters or heaven forbid anything worse. These people are big zeroes in doing anything long term. How did rump become a so called billionaire, again?

Is rump a billionaire?

rump IS a walking, talking, natural disaster happening to this country in real time/NOW. The 25th amendment or new articles of impeachment (w/o witnesses or documents, to do exactly what the Senate repugs did) should be immediately voted on and passed, but I know that this is far fetched.

[MissMillie]

10. All he does is complain

If we wanted to reassure people, he should quit whining.

Every time he opens his mouth or his twitter feed, he comes across as the world's biggest cry-baby.

In times where people are inclined to panic, they look for leadership--not for the guy that needs a WHAAAmblulance.

[sarge43]

5. If they were in a walk-in closet with the FBI to help them, they couldn't find their ass.

This is a perfect storm

A problem that can't be bullied or ignored and doesn't pay any attention to bull shit.

A nest of clueless incompetents floundering around CYAing.

I wish this were fake news.

[global1]

6. So Trump Gets Away With Another Lie Again....

He fooled Wall St. with his talk yesterday of payroll tax cut and other economic measures knowing full well they weren't prepared to do anything. He knew that Wall St. would move up based on what he said - and he just lied.

I wouldn't be surprised if by the end of the trading day today - that we'll see a downturn.

I'm also sure that Trump tipped off his friends and family to be prepared to make some money this a.m. because of what I say.

Trump manipulating the market again.

[Talitha]

7. And dammit, we KNEW it was coming! No excuse at all except incompetance.

That bumblehead in the Oval Office got rid of our responsible agency in May of 2018, IIRC. Can't recall the name of the agency but it's the one that handles stuff like this. His reason for doing it was because he doesn't like paying people for sitting around doing nothing.

Neither do we, you dumbass!

[MissMillie]

8. Someone needs to get them to clarify this "cut"

Is it really a cut, or are people going to have to pay it back when they file next year?

You know he's suggesting this only to make himself look good in an election year.

[Bengus81]

11. Dems in the House and Congress,tell Donnie you want a $1500 check

Cut for those who are on Social Security and wouldn't benefit from your payroll tax cut. THROW that right in Trump and McConnell's face and let THEM kill the deal.

[jgmiller]

13. Obama cut payroll taxes too

I hate Trump just as much as everyone but payroll tax cuts have been done by both parties before. It does damage the SS trust fund in the long term because it's underfunded. However in the past congress would just fund the gap in the budget. So while it doesn't do much monetarily it does have a positive psychologial effect on workers. It also helps low income workers more than high income workers because of the tax cap.

[not fooled]

16. I think red don

is gonna propose to do it a different way, that will really harm Social Security. The specifics will be coming out soon, and chances are it'll be different from Obama's payroll tax cut.

This is just an excuse to weaken SS. He doesn't care about helping workers, except to bolster his chances of getting in for another term.

[Javaman]

14. well that will certainly instill confidence and hope...

[Bengus81]

15. They'll roll it out along with their bigggllyy Health Care plan

Meaning NEVER. Just BS fodder for an election year.

[ancianita]

17. Plan?? That's just another four-letter word to this shitshow presidency.

[Yo_Mama_Been_Loggin]

19. Kind of like their boss

[elleng]

20. same as repugs' 'healthcare plan'