THE CARES ACT - WILL IT SAVE OUR ECONOMY?
The Hartmann Report
Thom Hartmann
4.5 • 1.3K Ratings
🗓️ 27 March 2020
⏱️ 58 minutes
🧾️ Download transcript
Summary
Economist Richard Wolff says the carona virus bailout that just passed is 'too little, too late', and does not address the fundamental weakness of 'an economy on life support' of an unprecedented level of debt. And what is it about the structure of our country that we are seemingly helpless to prepare for and combat this virus?
Progressive leader and Congresswoman Primala Jayapal joins Thom with a brilliant summary of the events behind a House that just overcame a last minute Republican challenge and passed the CARES Act. What did Progressives get in the bill, and what do they feel it is still missing?
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Transcript
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| 0:00.0 | This is the Tom Hartman Program. |
| 0:15.0 | Tom Hartman here with you, broadcasting live from my home studio in Portland. |
| 0:20.0 | On the line with us is our buddy Professor Richard Wolf. He is an economist, he's the co-founder. the socialism. In addition to Democracy at work. |
| 0:33.0 | info he also has a website at rd wolf with 2f's.com and you can tweet him at |
| 0:38.4 | prof wolf PRO F W-O-L-F. |
| 0:41.2 | Professor Wolf, welcome back. |
| 0:43.2 | Thank you, Tom. |
| 0:44.0 | Glad to be here. |
| 0:45.6 | Thank you for joining us. |
| 0:47.2 | Don't suppose I need to recap everything that's going on in Washington, D.C. |
| 0:50.6 | Right now. |
| 0:51.4 | Two trillion dollar stimulus bill, half a trillion of that can be |
| 0:54.4 | used by the Fed to loan up to four trillion dollars out to American businesses. |
| 0:58.6 | I'm curious your thoughts on what's going on, where we're at, these unemployment numbers that we just saw, |
| 1:04.0 | 2 million unemployed, when it looks like that doesn't even begin to capture things like |
| 1:09.0 | Uber drivers and gig workers and whatnot. |
| 1:11.9 | Where are we at? What's going on? |
| 1:14.4 | Well, I hesitate to give you the honest answer |
| 1:17.2 | because I know you want it and I'm going to do it. |
| 1:19.9 | I just |
| 1:25.0 | I just hesitate, almost like those programs on regular television that tell you you're about to see something scary or nude |
| 1:28.0 | or something else like that. I can't bring you good news, I just can't. |
... |
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