According to a report from Politico's Playbook, Donald Trump -- already reeling from the fallout from the coronavirus pandemic that has paralyzed the country -- needs Congress to come up with a financial package this weekend that will save the economy or his re-election may be in doubt.
As of Saturday morning, MSNBC was reporting that no deal between the Republicans and the Democrats appeared to be in sight, which could be bad news for Trump.
With the president's campaign banking on a strong economy to help his re-election prospects, the collapsing stock market, gutted 401ks and the threat of massive unemployment due to the major health crisis need to be arrested if Trump has any hope of staying in office.
"It's been said before, through self-inflicted crises and global tumult. But now, it’s truer than ever: the next two days are the most pivotal in Donald Trump's presidency," Politico's Anna Palmer and Jake Sherman wrote. "With one-third of the country relegated to their homes, the stock market at 2017 levels and a disease crowding hospitals and taking lives, TRUMP needs a Congress with which he has a rocky relationship to deliver him a massive legislative package in the next several days -- or else."
In order for Trump to be saved, he now has to depend that whatever package is hammered out by lawmakers will, at the very least, stop the economic freefall while at the same time his administration struggles to slow the spread of COVID-19.
The report goes on to note that the president is staying out of the negotiations -- to the relief of all -- but that there are many hurdles to clear.
“Among the unresolved issues are increased unemployment insurance payments, significant financial assistance for hospitals and health-care providers to treat coronavirus victims, and a proposed ‘State Stabilization Fund,’ which is intended to address billions of dollars in looming revenue shortfalls suffered by state governments during the emergency. But Republicans believe that Democrats won't block any rescue bill over fear of the potential political fallout," Politico is also reporting.
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