Pelosi, Schumer take small businesses hostage—again. The trouble is they’ll kill the hostage.
http://dailytorch.com/2020/04/pelosi-schumer-take-small-businesses-hostage-again-the-trouble-is-theyll-kill-the-hostage/

Small business relief that was included in the $2.2 trillion legislation passed by Congress and signed into law by President Donald Trump to shore up payrolls of millions of American workers during the Chinese coronavirus pandemic has been so popular that it is in danger of running out. As of Tuesday, the $350 billion program had already exhausted $257 billion as President Trump’s top economic advisor told Fox Business, “At the present run-rate, we’re going to be out of money.” 30 million small businesses employ up to 60 million Americans, the backbone of the U.S. economy, and for House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, the shortfalls are just fine. Those are hostages. The trouble is everyone knows they’ll kill the hostages, figuratively speaking, of course. That is, they’ll let those funds run out, even if it means tens of millions more Americans will lose their jobs for good while they wait to exact another toll from taxpayers on behalf of their own special interests, including state and local governments they want to bail out again. Can you believe this?

It took 50 states to get to a national lockdown, and it will take 50 states to reopen—and that’s a good thing:
http://dailytorch.com/2020/04/it-took-50-states-to-get-to-a-national-lockdown-and-it-will-take-50-states-to-reopen-and-thats-a-good-thing/

In order to combat the Chinese coronavirus and to save as many lives as possible, 42 states have issued stay at home orders, and another three have some parts of their states closed, in order to combat the Chinese coronavirus. All 50 states have schools closed. In addition, with the national emergency declared by President Donald Trump, including the overseas travel bans to China and Europe, social distancing, private sector testing and treatments being authorized on an emergency basis, the White House coronavirus task force has credited these closures in part with helping to slowing the total number of cases, which in turn has, according to the models touted by the medical community, already saved hundreds of thousands of lives. Countries all over the world have resorted to similar national lockdowns in order to win the war on the virus. The unfortunate side effect of the closures is the U.S. and global economies have effectively been shut down except for essential services, resulting in exceptionally high levels of unemployment. In the U.S., anywhere from 17 million to 20 million jobs have already been lost, with many more to come for every week the economy remains closed. At some point, though, the pandemic will end and the economy will reopen. But, just as it took all 50 states to get to the point of a national lockdown, so too will it take all 50 states to reopen when individual state governors determine it is safe to do so. What do you think?

COVID-19 is changing the world. The fallout from this deadly virus and the shutdowns it has caused could be politicians trying to take guns. ALG President Rick Manning explains how it can happen.

President Trump chose life at every turn in the war against the virus—and that’s a good thing:
http://dailytorch.com/2020/04/president-trump-chose-life-at-every-turn-in-the-war-against-the-virus-and-thats-a-good-thing/

At some point early in the Chinese coronavirus pandemic, President Donald Trump had a choice to make. Jan. 20, was when China finally confirmed human-to-human transmission, more than a month after the outbreak began. At that point, high mortality rates were not yet on the radar. But on Jan. 24, China would lock down Wuhan and the surrounding region. A day later, on Jan. 25, the first doctor to treat the virus and who tried to warn the world about it died from it in China, raising international awareness. That was the seminal moment that told both the public and world leaders two very important things: 1) this virus is much worse than was realized; and 2) that was because China was lying about it. On Jan. 29, the President appointed the White House coronavirus task force. The State Department was already evacuating people from Wuhan. At that point only a few hundred people had died in China. On Jan. 31, he suspended all travel from China. Now we know those early calls were critical and bought America time, enough time to get ready for the worst of the storm that we are now in. By March 13, President Trump had declared a national emergency and joined the coronavirus task force press briefing to announce the administration’s joint effort with the private sector for drive-thru testing for the virus, calming public fears. States followed in short order with cancelling schools, with the stay at home orders coming thereafter. Additionally, the emergency declaration paved the way to waiving Food and Drug Administration (FDA) restrictions — over FDA scientists’ objections — on antiviral treatments and other therapeutics. On the antivirals and other therapeutics, what President Trump did there was truly important, because we’re still about a year away from a vaccine with a whole other cold and flu season that will start in the fall. We really need something, anything, that might prevent the virus from spreading in our bodies or lessen the severity of infection. We’re not going to stay inside for another year. At every turn, President Trump has chosen life, even sacrificing the health of the economy while having the foresight to work with Congress with leaders in both parties to put in place the $2.2 trillion economic rescue plan that can be increased to $6 trillion to help as many employers as possible including 30 million small businesses to keep payroll plus expanding unemployment benefits, all to encourage Americans to stay home while we wait out the pandemic. I’m struck that the public so far has overwhelmingly preferred the recession option and has cooperated with the social distancing. President Trump chose life, acted decisively and has led the country through this emergency — and the American people by and large have followed his leadership. And that’s a good thing. What do you think?

After Chinese coronavirus, we need to make essential items in America based on strategic need—and enough of them:
http://dailytorch.com/2020/04/after-chinese-coronavirus-we-need-to-make-essential-items-in-america-based-on-strategic-need-and-enough-of-them/

Weekly unemployment claims in the U.S. were up another 6.6 million, bringing the total jobs lost since the Chinese coronavirus pandemic anywhere from 16.6 million to 19.6 million as federal and state government closures continue to in order to stave off the virus and protect the elderly and those with underlying conditions, more than doubling the jobs lost during the Great Recession when 8.3 million were lost. That puts the effective unemployment rate 15 percent, pretty much the highest since the Great Depression, with an overall 22 million to 26 million out of work and rising as Americans continue to engage in social distancing. Recall, about 5.8 million were already jobless when the outbreak began when unemployment was just 3.5 percent, a 50-year low, with the worst likely yet to come. This is like a tidal wave washing over the global economy, and no one will be spared. Businesses large and small are being tested during this time, but already the data and the damage is simply catastrophic. Nothing has ever been seen like it. What’s worse, it could take years or a decade to recover, even with well-intentioned measures by Congress to help small and large businesses to shore up payroll. President Donald Trump has requested Congress increase funding for small businesses by another $250 billion bringing the total up to $600 billion and the Federal Reserve appears to be opening a secondary market for these small business loans that it will be purchasing as banks make the loans, freeing up more capital to keep the lending going. The next few weeks’ unemployment claims reports will bear out the extent of the damage that has already been caused and as can be seen, it is quite extensive. The key thing to understand is that the damage may not be reversible in the short-term as any notions about getting back to 3.5 percent unemployment anytime soon are dispelled. However, with the decisive action being taken today by President Trump and Congress, we can shorten the duration of the job losses and speed the recovery. Main Street will reopen soon, it’s only a matter of time. How long do you think the recession will go on? Can we come back quickly?

$350 billion of forgivable loans for 8 weeks won’t be enough to save 30 million small businesses, Mr. President:http://dailytorch.com/2020/04/350-billion-of-forgivable-loans-for-8-weeks-wont-be-enough-to-save-30-million-small-businesses-mr-president/

One of the key aspects of President Donald Trump and Congress’ $2.2 trillion coronavirus relief package are provisions for $350 billion for 30 million small businesses to cover payrolls for 60 million Americans for eight weeks to encourage people to stay home to wait out the Chinese coronavirus pandemic. Along with the expanded unemployment and credit facilities covering critical industries and larger employers, the policy is designed to ensure that in saving as many lives as possible — the White House coronavirus task force has said as many as 2.2 million Americans could die without social distancing — we don’t find ourselves in a long, deep recession or depression as a result that might take a decade to recover from. As President Trump keeps saying, the cure cannot be worse than the disease. That is why we have to consider the very real possibility that $350 billion and eight weeks of loans will not be nearly enough to save these businesses, even if we have no new coronavirus cases come May or June. Looking back at the ten recessions that have occurred since 1948, it took on average 11 months for all the job losses to be realized to get to the labor market bottom, and another 16 months to recover. The entire ordeal lasts on average 27 months. Do you think we’ll get a speedy recovery after the pandemic ends?