Trumponomics: Stimulus is in the balance
Rick Newman analyzes what President Trump thinks when he demands more money from Congress to give to Americans in need.
JULIA LA ROCHE: And I want Rick Newman from Yahoo Finance for ... I think this could be our final Trumpometer for the year, Rick. Is that correct?
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RICK NEWMAN: Yeah, yeah. And it's a pretty interesting time. I'll just jump in, Julia, if you don't mind.
JULIA LA ROCHE: Do it.
RICK NEWMAN: Trump is acting like a Democrat right now. And Nancy Pelosi and Chuck Schumer in Congress, I think they're happy that Trump - instead of signing that big economic and relief bill, he said, no, I won't sign out, or I won't. Not like that, there are only $ 600 in stimulus checks for people. I want $ 2,000.
The Democrats in the House of Representatives and the Senate both said, Hey, we're fine with this. We are happy to support checks for USD 2,000. So if that actually results in Congress having to give that unanimous approval of this move, it is - it will not happen. There will be objections, but those objections will come from Republicans.
So, ironically, what Trump is doing here is enabling Republicans to shoot down more incentive aid for Americans in need. And he's doing this while we still have those two Georgia Senate elections. So it's hard to see how this is helping Republican candidates in Georgia, and it's not hard to see how it hurts them. Trump only seems intent on making Republicans in Congress unhappy in his final weeks in office.
ADAM SHAPIRO: You started out, Rick, by saying he looks like a Democrat. Wasn't he a Democrat? He was a democrat for years. Ivanka was the whole family, wasn't it?
RICK NEWMAN: Yeah, he identified himself as a Democrat in the 90s. And he was a member of the party and donated to Democrats. He obviously found his niche as a populist conservative. That's what ultimately works for him. But look what he's doing on the way out, Adam.
He urges Republican members, especially in the Senate, to show their loyalty to him, even after he lost the election, by supporting these efforts to steal the election from Joe Biden. Trump showed his hand here. We'll see more of this in January, especially on January 6th - at this event where the votes in Congress are counted.
And I think I should hit my Trumpometer for a week before I run out of time and I get [inaudible]. We're getting a mediocre Trumpometer this week. And mediocre is our third best read, and that's pretty good. And the reason is that we finally got a stimulus bill. It only took eight months. The stimulus will help. We'll probably need more in 2021.
So if President Trump just got out of the way or signed that thing and went on vacation, that thing would go into effect. I think there is about 3/4 chance that this will be the final result.
ADAM SHAPIRO: With a little time, I would never [obscure] you, but - which means to interrupt. I have to ask you Rick, and I'll let you choose, will there be a bidometer or a bidometer, or do you think Trump could actually get on his feet and blow up the bill for stimulus relief?
RICK NEWMAN: If he does - if Trump blows up the stimulus bill, it'll end up being signed by Joe Biden. So we'll get the same bill. It would just be - what - a month later or so. And as for the question of whether there will be a bidenometer, I would invite viewers to tell me whether or not there should be one. I'm against - and maybe come up with something else, simply because Biden is boring compared to Trump.
And I just don't think we'll have enough to talk weekly about like we did with Trump because he was just so bombastic and gave us something every week that we can literally talk about. There is always something. I'm just not sure if that will be the case with Biden. But look, if there is a big demand for a bidenometer let me know and we will make it happen.
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