FREE MONEY? CNBC Boosts Romney’s Coronavirus Plan to Give EVERY American $1,000

March 17th, 2020 12:17 PM
CNBC apparently had no problem treating Sen. Mitt Romney’s (R-UT) coronavirus plan to give “every” American $1,000 as a rational idea.
CNBC came right off the bat to make the senator look like some sort of philanthropist: “GOP Sen. Mitt Romney proposed on Monday sending every American adult $1,000 to ease the financial pain of the coronavirus pandemic that has tanked global markets and threatened to grind U.S. economic activity to a halt.” [Emphasis added.] Did the outlet consider the irony that such a policy could require massive spending and tax increases that would further “grind U.S. economic activity to a halt”?
Romney apparently wasn’t finished there. His proposal would also “require all private insurance companies to cover telehealth services related to COVID-19, the disease caused by coronavirus.” [Emphasis added.]
So, free money (not really) and compelling private business to do the government’s bidding? Got it.

In fact, with a national population exceeding 329,404,000, it would take approximately over $329.4 billion in spending to accommodate doling out $1,000 to every American.

National Economic Council Director Larry Kudlow answered a reporter’s question about giving direct cash assistance to Americans with a simple, “‘The answer: could be,’” CNBC said.

Is Kudlow’s idea of “cash assistance” the same as Romney’s? CNBC doesn’t say, but making it appear as though the White House is on the same track with Romney’s thinking definitely could serve a liberal narrative.

After all, CNBC wrote that “the idea of sending out stimulus checks has been gaining traction in recent weeks.” Was the outlet considering MSNBC talking heads like Chris Hayes who recently wanted Congress to pass a foolish $1 trillion stimulus bill in “direct cash” to Americans?

CNBC linked to an article written by former FDA Commissioner Scott Gottlieb and American Enterprise Institute Director of Economic Policy Studies Michael Strain, saying that the two “also pushed the idea of direct cash assistance to low-income Americans.” [Emphasis added.]

Someone should tell CNBC that a proposal for cash assistance to “low-income” Americans is very different from a proposal that covers “every” American. CNBC also ignored Gottlieb and Strain’s important caveat that “Amid trillion-dollar deficits, the federal government shouldn’t spend more money unless necessary.” [Emphasis added.]

Current federal spending for fiscal year 2021 is $4.829 trillion.

CNBC also touted socialist Rep. Alexandria Ocasio-Cortez (D-NY) expressing similar sentiments, in an apparent showcase of bipartisan support of redistribution of wealth:

“On the left, Rep. Alexandria Ocasio-Cortez, D-N.Y., has suggested a universal basic income as a possible remedy. ‘This is not the time for half measures,’ she wrote in a post on Twitter. ‘We need to take dramatic action now to stave off the worst public health & economic affects.’”