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White House Economic Advisor Larry Kudlow joined “Bill Hemmer Reports“Wednesday to discuss the Senate coronavirus response, saying that the federal government is doing its best to “cushion the economic consequences” of the pandemic.
“This is the largest traditional financial aid plan in the history of the United States,” Kudlow told Hemmer on Wednesday. “This is a very common set. We are trying to do our best to cushion the economic consequences of the virus.”
Democratic presidential candidate Senator Bernie Sanders, I-Vt.said Wednesday afternoon it could torpedo the Senate compromise package unless the Republican senators abandon their objections to what they called a “massive drafting error” related to unemployment benefits, in the final corner of a process that was marked by delays and obstacles to last minute.
Kudlow rejected the possibility that the deal would fail, saying to Hemmer, “It will be settled.”
Hemmer insisted with Kudlow on all the details of the legislation which could irritate the Americans later, but Kudlow declared that he did not think that there were such exclusions.
“It targets directly, Bill, families, small businesses. This is the key point here. It targets them directly, either through direct assistance, or through tax incentives, or both,” said Kudlow. “Let’s not forget the Federal Reserve coin, as it dampens the entire economy and stabilizes the financial markets.”
“We are helping everyone,” added Kudlow before stressing that the economic recovery would be “temporary”.
“I want to emphasize this,” said Kudlow. “We believe, and I hope it will happen in prayer, we think we are talking about weeks and months, not years.”
Gregg Re and Adam Shaw of Fox News contributed to this report.