Friday, May 8, 2020

Schumer and Pelosi Call For 'Rooseveltian' Relief In Next Coronavirus Package

AP Photo/Susan Walsh
Sen. Minority Leader Charles E Schumer said Thursday Democrats are preparing to unveil a massive “Rooseveltian” coronavirus relief package.
Mr. Schumer said he and House Speaker Nancy Pelosi are still working on the package but should be ready to roll it out “shortly.”
“We need Franklin Rooseveltian-type action and we hope to take that in the House and Senate in a very big and bold way,” he said on MSNBC.
The New York Democrat went further on the Senate Floor, comparing Senate Majority Leader Mitch McConnell and President Trump’s reluctance to move another large spending bill to that of President Herbert Hoover.
Mr. Hoover, in office during the Great Depression, wrongly predicted that the economy would recover quickly at the onset of the country’s worst economic crisis and didn’t ramp up the federal government’s response as calls grew. The crisis started in the fall of 1929 and lasted until the end of the 1930s.
LINK: Pelosi, Schumer Set To Unveil Multi-Trillion
Dollar, ‘Rooseveltian’ Coronavirus Relief Package
President Franklin D. Roosevelt, who came into office in 1933, took over the crisis and responded with The New Deal, an unprecedented influx of government spending on programs, public works, and financial reforms.
“President Herbert Hoover was reluctant to use natural resources to combat a national crisis,” Mr. Schumer said. “His failure to act contributed to the length and severity of the depression.”
“If President Trump responds with the same timidity as President Hoover did, I fear the nation would suffer the same consequences as it did in the past,” he added.
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Pelosi, Schumer Set To Unveil Multi-Trillion Dollar, ‘Rooseveltian’ Coronavirus Relief Package

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