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Sen. Lamar Alexander (R-Tenn.) gives his closing remarks at a Senate Health Education Labor and Pensions Committee hearing on new coronavirus tests on May 7th, 2020 on Capitol Hill in Washington D.C. (Photo: Anna Moneymaker-Pool/Getty Images)
GOP Senator Who Voted for Trump Tax Cuts and Corporate Slush Fund Now Says 'Not Enough Money to Help Everybody' Harmed by Covid-19
"They took care of their billionaire buddies and Wall Street bankers. Now they're trying to say there's 'not enough' left to help you and your family. It's a lie."
May 11, 2020
A top Republican senator who had no qualms with voting for a $1.5 trillion tax cut for the rich or a multi-trillion-dollar corporate slush fund said Sunday that, as millions of people across the U.S. struggle to afford basic necessities, there is "not enough money" to provide relief to everyone harmed by the coronavirus pandemic.
"There's not enough money to help everybody hurt when you shut down the government," Sen. Lamar Alexander, a Tennessee Republican and chairman of the Senate Health, Education, Labor and Pensions Committee, said in an appearance on NBC's "Meet the Press."
"We have to reopen the economy, we have to do it carefully, we have to let people go back to work and earn a living," said Alexander. "And I don't see us being able to appropriate much more money to help provide a counter to that."
Progressive groups and economists reacted with outrage to Alexander's remarks, which came amid ongoing debates over the next coronavirus stimulus package as the relief provided by previous measures--such as expanded unemployment insurance and one-time stimulus payments--proves inadequate to match the scale of the crisis.
Stephanie Kelton, professor of economics at Stony Brook University, tweeted Sunday that she "can't believe we're hearing, 'We're out of money' in the early stages of a crisis. AGAIN."
"The truth is, Congress can appropriate whatever it chooses," Kelton said. "It literally cannot run out of money."
The Working Families Party said that Republicans "took care of their billionaire buddies and Wall Street bankers," and "now they're trying to say there's 'not enough' left to help you and your family."
"It's a lie," the group tweeted.
\u201cThey took care of their billionaire buddies and Wall Street bankers. \n\nNow they're trying to say there's "not enough" left to help you and your family. \n\nIt's a lie. https://t.co/XU2BIRCWSu\u201d— Working Families Party \ud83d\udc3a (@Working Families Party \ud83d\udc3a) 1589131173
Larry Kudlow, President Donald Trump's top economic adviser, said Friday that formal negotiations with Congress over the next Covid-19 stimulus package have been suspended--even as other White House officials predict the U.S. unemployment rate could surpass 20% by next month. Under the CARES Act, which Trump signed into law in March, expanded unemployment benefits are set to expire by July 31 without additional action from Congress.
As the Trump administration and Senate Republicans stall on additional relief, claiming to be concerned about the rising national debt, House Democrats are in the process of crafting their own stimulus legislation that could be unveiled as early as this week.
The package, according toAxios, is expected to include an increase in federal nutrition assistance and Medicaid funding, expanded unemployment benefits, and another round of direct stimulus payments.
An Unconstitutional Rampage
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A top Republican senator who had no qualms with voting for a $1.5 trillion tax cut for the rich or a multi-trillion-dollar corporate slush fund said Sunday that, as millions of people across the U.S. struggle to afford basic necessities, there is "not enough money" to provide relief to everyone harmed by the coronavirus pandemic.
"There's not enough money to help everybody hurt when you shut down the government," Sen. Lamar Alexander, a Tennessee Republican and chairman of the Senate Health, Education, Labor and Pensions Committee, said in an appearance on NBC's "Meet the Press."
"We have to reopen the economy, we have to do it carefully, we have to let people go back to work and earn a living," said Alexander. "And I don't see us being able to appropriate much more money to help provide a counter to that."
Progressive groups and economists reacted with outrage to Alexander's remarks, which came amid ongoing debates over the next coronavirus stimulus package as the relief provided by previous measures--such as expanded unemployment insurance and one-time stimulus payments--proves inadequate to match the scale of the crisis.
Stephanie Kelton, professor of economics at Stony Brook University, tweeted Sunday that she "can't believe we're hearing, 'We're out of money' in the early stages of a crisis. AGAIN."
"The truth is, Congress can appropriate whatever it chooses," Kelton said. "It literally cannot run out of money."
The Working Families Party said that Republicans "took care of their billionaire buddies and Wall Street bankers," and "now they're trying to say there's 'not enough' left to help you and your family."
"It's a lie," the group tweeted.
\u201cThey took care of their billionaire buddies and Wall Street bankers. \n\nNow they're trying to say there's "not enough" left to help you and your family. \n\nIt's a lie. https://t.co/XU2BIRCWSu\u201d— Working Families Party \ud83d\udc3a (@Working Families Party \ud83d\udc3a) 1589131173
Larry Kudlow, President Donald Trump's top economic adviser, said Friday that formal negotiations with Congress over the next Covid-19 stimulus package have been suspended--even as other White House officials predict the U.S. unemployment rate could surpass 20% by next month. Under the CARES Act, which Trump signed into law in March, expanded unemployment benefits are set to expire by July 31 without additional action from Congress.
As the Trump administration and Senate Republicans stall on additional relief, claiming to be concerned about the rising national debt, House Democrats are in the process of crafting their own stimulus legislation that could be unveiled as early as this week.
The package, according toAxios, is expected to include an increase in federal nutrition assistance and Medicaid funding, expanded unemployment benefits, and another round of direct stimulus payments.
A top Republican senator who had no qualms with voting for a $1.5 trillion tax cut for the rich or a multi-trillion-dollar corporate slush fund said Sunday that, as millions of people across the U.S. struggle to afford basic necessities, there is "not enough money" to provide relief to everyone harmed by the coronavirus pandemic.
"There's not enough money to help everybody hurt when you shut down the government," Sen. Lamar Alexander, a Tennessee Republican and chairman of the Senate Health, Education, Labor and Pensions Committee, said in an appearance on NBC's "Meet the Press."
"We have to reopen the economy, we have to do it carefully, we have to let people go back to work and earn a living," said Alexander. "And I don't see us being able to appropriate much more money to help provide a counter to that."
Progressive groups and economists reacted with outrage to Alexander's remarks, which came amid ongoing debates over the next coronavirus stimulus package as the relief provided by previous measures--such as expanded unemployment insurance and one-time stimulus payments--proves inadequate to match the scale of the crisis.
Stephanie Kelton, professor of economics at Stony Brook University, tweeted Sunday that she "can't believe we're hearing, 'We're out of money' in the early stages of a crisis. AGAIN."
"The truth is, Congress can appropriate whatever it chooses," Kelton said. "It literally cannot run out of money."
The Working Families Party said that Republicans "took care of their billionaire buddies and Wall Street bankers," and "now they're trying to say there's 'not enough' left to help you and your family."
"It's a lie," the group tweeted.
\u201cThey took care of their billionaire buddies and Wall Street bankers. \n\nNow they're trying to say there's "not enough" left to help you and your family. \n\nIt's a lie. https://t.co/XU2BIRCWSu\u201d— Working Families Party \ud83d\udc3a (@Working Families Party \ud83d\udc3a) 1589131173
Larry Kudlow, President Donald Trump's top economic adviser, said Friday that formal negotiations with Congress over the next Covid-19 stimulus package have been suspended--even as other White House officials predict the U.S. unemployment rate could surpass 20% by next month. Under the CARES Act, which Trump signed into law in March, expanded unemployment benefits are set to expire by July 31 without additional action from Congress.
As the Trump administration and Senate Republicans stall on additional relief, claiming to be concerned about the rising national debt, House Democrats are in the process of crafting their own stimulus legislation that could be unveiled as early as this week.
The package, according toAxios, is expected to include an increase in federal nutrition assistance and Medicaid funding, expanded unemployment benefits, and another round of direct stimulus payments.
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LATEST NEWS
US Court Orders Return of Man Trump Sent to Salvadoran Prison in 'Error'
"How the government reacts will tell us so much about how far down the road to autocracy we are," said one lawyer.
Apr 04, 2025
A U.S. judge on Friday ordered the return of a Maryland resident who the Trump administration mistakenly deported to a prison in El Salvador last month, according to The Associated Press.
Prior to issuing the ruling, U.S. District Judge Paula Xinis called the deportation of Kilmar Abrego Garcia "an illegal act."
The judge, an appointee of former President Barack Obama, gave the Trump administration end of the day of the day on Monday to bring him back to the United States.
Supporters outside the courtroom cheered as the judge handed down her order, according to The Washington Post.
Responding to the ruling on social media, U.S. Rep. Pramila Jayapal (D-Wash.) said: "This is a big win. Now Trump must comply with the judge's order."
Immigration lawyer Ava Benach wrote: "The right decision. How the government reacts will tell us so much about how far down the road to autocracy we are."
The right decision. How the government reacts will tell us so much about how far down the road to autocracy we are.
[image or embed]
— avabenach.bsky.social (@avabenach.bsky.social) April 4, 2025 at 3:27 PM
Abrego Garcia was among hundreds of people the administration expelled in mid-March to a notorious megaprison in El Salvador after targeting them for alleged gang ties.
In a court papers filed earlier this week in the U.S. District Court for the District of Maryland, an Immigration and Customs Enforcement (ICE) acting field office director admitted that the removal of Abrego Garcia on March 15 "was an error."
Abrego Garcia was deported despite the fact that in 2019, a U.S. immigration judge ruled that he could not be deported to his native El Salvador because he would likely face gang persecution there.
Amid Trump Tariff Chaos, DOGE 'Minions' Infiltrate Federal Trade Commission
"Corporations get let off the hook, Musk gets insider information, and the American people get hosed."
Apr 04, 2025
The latest U.S. agency in the crosshairs of billionaire Elon Musk's Department of Government Efficiency is reportedly the Federal Trade Commission, an already-understaffed department tasked with preventing monopolistic practices and shielding consumers from corporate abuses.
Axios reported Friday that at least two DOGE staffers "now have offices at" the FTC. According to The Verge, two DOGE members "were spotted" at the agency's building this week and "are now listed in the FTC's internal directory."
The Verge noted that the FTC is "a fairly lean agency with fewer than 1,200 employees," a number that the Trump administration has already cut into with the firing of some of the department's consumer protection and antitrust staff.
At least two of Musk's companies, Tesla and X, have faced scrutiny in recent years from the FTC, which is now under the leadership of Trump appointee Andrew Ferguson, who previously pledged to roll back former chair Lina Khan's anti-monopoly legacy.
Emily Peterson-Cassin, corporate power director at the Demand Progress Education Fund, which referred to the operatives as Musk's "minions," said Friday that "DOGE is yet again raiding a federal watchdog tasked with protecting working Americans from Wall Street and Big Tech."
"The FTC has worked to stop monopolistic mergers that would have led to higher grocery prices and is now gearing up to go to court against Meta's social media monopoly," said Peterson-Cassin. "It's no surprise that at this moment, while the economy is in freefall and fraud is on the rise, DOGE is choosing to raid the federal watchdog that protects everyday Americans and threatens corporate monopolies and grifters."
News of DOGE staffers' infiltration of the FTC came as Trump's sweeping new tariffs continued to cause global economic turmoil and heightened concerns that companies in the U.S. will use the tariffs as a new excuse to jack up prices and pad their bottom lines.
Ferguson pledged in a social media post Thursday that under his leadership, the FTC "will be watching closely" to ensure companies don't view Trump's tariffs "as a green light for price fixing or any other unlawful behavior."
But Trump has hobbled the agency—and prompted yet another legal fight—by firing its two Democratic commissioners, a move that sparked fury and has already impacted the FTC's ability to pursue cases against large corporations.
Peterson-Cassin said Friday that "the only winners" of DOGE's targeting of the FTC "are Trump's billionaire besties like [Meta CEO] Mark Zuckerberg and especially Musk, who now stands to gain access to confidential financial information about every company ever investigated by the FTC, including the auto manufacturers, aerospace firms, internet providers, tech companies, and banks that directly compete with his own companies."
"Corporations get let off the hook, Musk gets insider information, and the American people get hosed," Peterson-Cassin added.
'There Will Be Blood': JPMorgan Hikes Odds of Trump-Triggered Recession to 60%
"The president single-handedly wiped out Americans' retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty."
Apr 04, 2025
Alarm over U.S. President Donald Trump's tariffs continues to grow, with stocks plummeting and JPMorgan warning that "the risk of recession in the global economy this year is raised to 60%, up from 40%."
After China announced new 34% tariffs on all American goods beginning next week, The Associated Press reported Friday that "the S&P 500 was down 4.8% in afternoon trading, after earlier dropping more than 5%, following its worst day since Covid wrecked the global economy in 2020. The Dow Jones Industrial Average was down 1,719 points, or 4.3%, as of 1:08 p.m. Eastern time, and the Nasdaq composite was 4.9% lower."
Noting the state of Wall Street this week, Groundwork Collaborative executive director Lindsay Owens declared in a Friday statement that "Trump has officially brought the economy to its knees."
"The president single-handedly wiped out Americans' retirement savings overnight and subjected businesses to intense whiplash with his increasingly erratic and chaotic policies that continue to drive consumer and business uncertainty," she said. "To call this an economic downturn is an understatement; Trump is marching us straight into a depression."
Political and economic observers have been publicly wondering for weeks if Trump is intentionally crashing the economy. Further fueling those fears, he ramped up his trade war on Wednesday by announcing a minimum 10% tariff for imports, with higher levies for dozens of countries. Although he claimed those steeper duties are "reciprocal," his math "horrified" economists and has been called "crazy."
Responding in a Thursday note titled, There Will Be Blood, head of global economic research Bruce Kasman and other experts at JPMorgan wrote that "if sustained, this year's ~22%-point tariff increase would be the largest U.S. tax hike since 1968."
"The effect of this tax hike is likely to be magnified—through retaliation, a slide in U.S. business sentiment, and supply chain disruptions," states the note, which came before China's announcement.
As Bloomberg reported:
Several Wall Street firms on Thursday warned of a U.S. recession, with some making it their base case, after... Trump announced major levies on goods imported from countries around the world. Other economists, including those at JPMorgan, said the hit could be big, though they are taking a wait-and-see approach before revising their projections.
The announcement rocked global financial markets, and the S&P 500 suffered its worst day since 2020. Trump, speaking on Air Force One on Thursday afternoon, said he was open to reducing tariffs if trading partners were able to offer something "phenomenal."
"We are not making immediate changes to our forecasts and want to see the initial implementation and negotiation process that takes hold," the JPMorgan note says. "However, we view the full implementation of announced policies as a substantial macroeconomic shock not currently incorporated in our forecasts. We thus emphasize that these policies, if sustained, would likely push the U.S. and possibly global economy into recession this year."
The team also pointed out that the United States is in potential danger no matter how other countries are ultimately impacted, calling a "scenario where rest of world muddles through a U.S. recession possible but less likely than global downturn."
As Common Dreams reported last week, in anticipation of Trump's tariff announcement, Goldman Sachs published a research note projecting that the odds of a recession in the next year are 35%, up from 20%.
Other financial industry research firms that have recently warned of a possible recession include Barclays, BofA Global Research, Deutsche Bank, RBC Capital Markets, and UBS Global Wealth Management, according to Reuters.
"This is a game-changer, not only for the U.S. economy, but for the global economy. Many countries will likely end up in a recession," Olu Sonola, head of U.S. economic research at Fitch Ratings, said in a late Wednesday note about the levies. "You can throw most forecasts out the door, if this tariff rate stays on for an extended period of time."
Experts have made similar comments to the press in the wake of the president's Rose Garden remarks on Wednesday. Time on Friday shared some from Brian Bethune, a Boston College economics professor:
"[Consumers] are not even going to the grocery store and paying more for vegetables because there's none available from Mexico, or going to Whole Foods, for example, and finding the big sections of fresh fruit are being shut down. They haven't really felt the full impact [yet], and they're already saying something isn't right," Bethune says.
However, while some economists... are more cautious in their discussion about a possible recession, Bethune says it's "inevitable." The question, he says, is just how long until it happens and for how long will it occur? He sees Trump's admission of there being " some pain" on the horizon as only proof of the inevitability.
"At least they [the Trump administration] are not pretending that it's not disruptive, but they're basically soft-selling it, reflecting their ignorance about the way business operates," Bethune claims.
Also on Friday, the Bureau of Labor Statistics released the latest U.S. jobs data. Although the unemployment rate rose from 4.1% to 4.2% in March, the economy added 228,000 jobs, which was better than expected.
However, economists warn of what lies ahead. As University of Michican economics professor Betsey Stevenson put it, "Today's jobs report is like looking at your vacation photos after you had a horrible car crash on the way home."
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