WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes.
Suddenly the clouds are parting and a compromise on another round of pandemic relief money is now the expected outcome of further talks between Treasury Secretary Stephen Mnuchin Thursday. The Capitol newspaper Roll Call’s Web site reported Wednesday night the new numbers Mnuchin proposed to Pelosi in their hour and a half afternoon meeting are within striking distance of what House Speaker Nancy Pelosi has been demanding. And she said Wednesday she’s hopeful a deal can be reached. He’s offering $1.62 billion in virus relief with $250 billion for state and local governments. That’s $150 billion more than the White House previously offered but still $186 billion less than House Democrats want.
The newspaper reported Mnuchin would add $400 a week in add-ons to unemployment benefits. That’s less than the $600 Democrats want but $100 more than the White House had offered. Mnuchin would also add $75 billion to pay for virus testing, quite a bit more than his previous $15 billion.
Mnuchin would send the U.S. Postal Service $10 billion, not far from the Democrats’ $15 billion, and would direct $160 billion for forgivable Paycheck Protection Program loans, this time aimed at minority-owned small businesses.
Finally Roll Call said Mnuchin offered a raft of categorical amounts pretty much in line with what Pelosi is ready to put in an update of the Heroes Act that she threatens to pass Thursday if there is no other comprehensive understanding, allowing Democrats to go home with something to talk about – and criticize Republicans about. He is offering $60 billion for rental and mortgage assistance, $28 billion for student loan relief, $25 billion for child care providers, $20 billion for farmers and ranchers, $15 billion for broadband Internet in underserved communities, $13 billion for paid leave and $5 billion for child welfare.
That among the smallest numbers is as large as $5 billion is the strongest sign the package is being teed up for final compromise. Senate Majority Leader Mitch McConnell will have the job of scraping up the necessary 20 Senate votes once President Trump signs off on the compromise. The tens of thousands of airline jobs about to be cut Thursday can be saved or restored once the deal is signed.
- Speaking of signing, the president’s signature on the continuing resolution passed Wednesday by the Senate lets the ghost of a threat of a partial government shutdown fade away, at least until the next deadline, Dec. 11.
- Moving along, was it a coincidence that obnoxiousness seemed to proliferate on the cable channels Wednesday, with Trump surrogates talking over the interviewers? The shouting battle between CNN anchor Brienna Keilar and a spokesman for Blacks for Trump went on for more than 10 minutes.
- The struggle for narrative supremacy in the wake of the Big Debate was a full-time endeavor through the day. President Trump said he won by every poll he saw and tweeted the debate was “fun.” Opponent Joe Biden said it was all “a national embarrassment.” The squads of surrogates were deployed everywhere. The Commission on Presidential Debates moved to give moderators control of the microphones or grant some similar “additional tools.” Said the Commission, “Last night’s debate made clear that additional structure should be added to the format of the remaining debates.” Jerry Springer pioneered the on-set assistance of black-garbed bouncers when guests got out of hand.
- Ratings for the debate were huge – 73.1 million viewers – and in this era of erosion of network audiences no one was complaining that that was not quite the breakout numbers for 2016’s Trump vs. Hillary. In 15 days, the second presidential match, this time in the town hall format, in Miami.
- Upcoming economic statistics include the Challenger report on layoffs at 7:30a ET, the weekly report on new claims for jobless benefits at 8:30a along with personal income and spending. There’s the Markit manufacturing index at 9:45a, the ISM manufacting index at 10a along with construction spending.
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