Kudlow sees no ‘magic wand’ to get the country back to normal

An estimated 3 million small businesses need financial help to survive. Last week, more than 3 million Americans filed for unemployment. There are more than 124,000 confirmed cases of novel coronavirus in the United States, and there were more than 2,100 deaths according to a Johns Hopkins University database.

Kudlow pointed out the $ 2.2 trillion economic bailout that President Donald Trump signed on Friday. The unprecedented package, which Kudlow called “remarkable” and “tremendous support,” includes government payments of up to $ 1,200 to individuals, corporate loans and tax breaks, and money for state and local governments, as well as the country’s overwhelmed healthcare system.

“I can’t swing the wand. I wish I could. I’ve spent my entire career as an optimist trying to promote economic growth, ”he said.

Kudlow said he believes the $ 2.2 trillion package will be enough, even given the rising unemployment rate.

Direct checks will come out in about two weeks, and federal loans to small businesses will be ready for processing on Friday, he added.

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“Given the infrastructure, so much money, so many checks?” “This week” asked co-moderator Martha Raddatz.

“We will have a fast pace, much faster than in the past with these things,” said Kudlow. “We’ll get it in people’s hands immediately.”

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