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The White House is having an economic panic attack. Remember, just the other day Larry Kudlow told us not to worry “The business and the economic side, I don’t think it’s going to be an economic tragedy at all. There’ll be some stumbles.” 1/ politico.com/news/2020/02/2…
Now Trump is calling for a gigantic economic stimulus — a total holiday on the payroll tax, which is 5.9 percent of GDP 2/ bloomberg.com/news/articles/…
For perspective, that's well over twice the size, relative to GDP, of the Obama stimulus at its peak. ARRA as a share of GDP: 3/
What happened to Republican fiscal restraint? OK, that was always phony. But beyond that, this isn't a plan; does anyone think Trump has done the math? It's flailing. And he even said the quiet part out loud: tax holiday *until the election* 4/
Democrats have no obligation to go along with frantic efforts that Trump himself admits are all about his reelection. They can and should demand a real plan that takes their concerns into account 5/
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