Stimulating China

GLENN: Let me just explain the spending bill. I know you understand it but let me just break it down so you can explain it to your dope friends. And when I say dope, I know we've got a lot of rappers that listen to the program. I don't mean that in a good way. The spending package, some will say that this is just an advance on your income taxes next year. Okay. I suppose you could look at it that way. You could say, they're just going to raise my taxes next year. So they're just giving me in advance. Well, I wish it were that happy.


 Here's what it really is. We don't have $150 billion. It's not like George is like, well, let me just get this out of the drawer, I've got $150 billion in this drawer." He doesn't have $150 billion. Nancy Pelosi doesn't have $150 billion. Even the Kennedys don't have $150 billion. Nobody has $150 billion. Nobody's cutting $150 billion from our spending programs. If they did cut $150 billion, it's not like they're like, "Well, that's good because I happen to have this stack of $150 billion right here now and we were going to spend it over here on this road but now we're going to give it back to the American people." We didn't have it for the road! We were borrowing it from China! So if we were going to cut something for $150 billion, we would say, "Hey, China, we don't need that $150 billion for the road, we're going to borrow that and you're going to jack up the interest rates, we're going to put ourselves -- here, just slap some handcuffs on us, will you?" That's -- if they cut, that's what they would say. "Well, we're not going to borrow that money. Oh, by the way, we've got to stimulate our economy, so we do need to borrow that $150 billion." But they are not even saying that. They are saying, "Yeah, we need that $150 billion we were going to borrow from you before, yeah, we need to make that $300 billion because we need another $150 billion." So we take another $150 billion and we borrow it from China. They're over there with the abacus right now. "Oh, this is fun. Oh, yes. How much more?" And we borrow another $150 billion and then we pay the new 41 stamp and put it in the mail! It just went up to 42? Groovy again, U.S. Government. Cost us an extra penny to send this borrowed money to you!


 So we pop it into the mail and then what happens? And then you take it and you go out and you buy goods made in China. (Applause). This is fantastic. This is the best, this is the best stimulus package I've -- can I tell you something? It will definitely stimulate the economy. Not ours but China. It will be fantastic. I mean, imagine that. Look how insidious that is. Can you imagine if I were a Bill's Store and Bank and I said, "Whew, we're having problems with the economy. John, I tell you what we need to do. Just to help you out, I'm going to loan you $1,000, okay? You're going to have to pay 8% interest on that but I'm going to loan you -- because this will be for your own good. I'm going to loan you $1,000 at 8% interest and then you go ahead and spend that. Oh, by the way, I'll cash that check for you if you want. You can spend it right here in my store and buy stuff that I'm selling." The Chinese win in three ways. They continue to enslave us in debt; they got their interest rate. Congratulations. They're making money; and they're putting their own people to work making the crap that we buy. Who's the winner here? Oh, I'm so excited for that paycheck -- oh, I'm not going to get one. That's right. I'm too rich. I'm too rich. I've got -- I don't even need a tax decrease. Why would I need a tax decrease? I'm just running a small business that just got an insurance increase of 48%! Yeah, don't worry. Don't worry. I'm sure all those people that run small businesses, they don't need a tax decrease, either, uh-uh, no.


 I wish there were a candidate that would suggest that we, like, do some sort of, I don't know, government-sponsored environmental youth army. You think I'm joking, don't you? Yeah, yeah. An environmental youth army paid for by you. That will stimulate the economy. China again, we'll have to borrow that money but then we'll give all that money to teenagers and they spend that money at the mall like crazy. It will be great for China. We'll give you all the details on that coming up in just a second.


 And by the way, I just, I wanted that one caveat that John McCain will lose the election unless -- I mean, something crazy has to happen like, you know, Pakistan has to have, like, you know, a whole nuclear staff go missing and kidnapped by, you know, Al-Qaeda members. Well, wait a minute. That just happened. Oh, crap. Maybe we should pay attention to that. No, you know what? I tell you what, that new Jamie Lynn Spears show is back on and so let's watch the pregnant 16-year-old on the Disney channel. Things make sense.

Glenn gives the latest coronavirus numbers, updating YOU on everything needed to know as Americans and officials monitor China's new COVID-19 virus:

Daily Stats as of 5:30 AM CT (from John's Hopkins)

  • Total Confirmed Cases Worldwide: 799,995 (up from 735,135 Yesterday)
  • Total Confirmed Deaths Worldwide: 38,735 (up from 34,807 Yesterday)
  • Total Confirmed Recovered Worldwide: 169,995 (up from 155,950 Yesterday)
  • 5% of Active Cases are considered serious (requiring hospitalization) Steady from 5% Yesterday, but down from 19% high back in February
  • Note that 11% of US Confirmed Cases require Hospitalization, roughly on par with Italy at 12% requiring hospitalization
  • US has 164,359 Confirmed Cases and 3,173 Deaths, up from 142,746 cases and 2,489 deaths Yesterday
  • The United States of America now leads the world in total confirmed cases, with 63,000 more cases than Italy (although Italy leads the world in Deaths with 11,591 officially dead)
  • US has 3,173 Dead vs 5,507 Recovered and 3,512 in Critical Condition
  • The US Currently has 155,679 Active Cases of COVID-19, with less than 0.6% of the total US population tested
  • 15% of Americans who have been tested have been diagnosed with COVID-19
The Moment of Trump's Conversion: Dr Anthony Fauci Takes Full Responsibility
  • Dr Anthony Fauci, the Chief Medical Advisor to the coronavirus task force, explained on CNN that Trump listened and "got it right away" after being shown new data projecting as many as 3 Million deaths in the US if COVID-19 mitigation policies were lifted.
  • Fauci also said Trump's "first goal is to prevent suffering and death" and this was part of the reason why he knew the COVID-19 guidelines should be extended.
  • "You know, interestingly, we showed him the data, he looked at the data and he got it right away, it was a pretty clear picture," according to Fauci.
  • "Dr. Debbie Birx and I went in together and leaned over his desk and said 'Here is the data, take a look.'
  • Trump reportedly looked at them, understood the implications and he shook his head and said 'I guess we got to do it.'
  • "Medically, this is the right decision, and I stand behind it 100%," Fauci said.
  • "From a public health standpoint, we felt strongly that it would have been the wrong decision to pull back," Fauci said. "I mean, we are scientists, physicians, public health officials. We're not economists. We're sensitive to the idea that the economy could suffer, but weigh that against tens of thousands, hundreds of thousands of American lives."
  • " was patently obvious looking at the data that at the end of the day if we try to push back prematurely, not only would we lose lives, but it probably would hurt the economy as well. So you would lose on double accounts. So, to us, there was no question what the right choice was."
Washington DC, Virginia, Maryland Join States Issuing House Arrest Orders
  • Maryland and Virginia became the latest states on Monday to enact "stay-at-home" mandates amid the coronavirus outbreak, except for essential travel for work.
  • Virginia's order is in effect until June 10, making it one of the longest statewide mandates implemented so far.
  • Maryland's penalties for violating its order are among some of the strictest in the country, including a $1000 fine, and up to 30 days jail time for repeat offenders.
  • In total, more than 210 Million Americans now effectively live under some form of House Arrest or Shelter In Place type orders, with another, 50 Million facing travel or shopping/eating restrictions.
  • Only 6 states have not closed schools.