The most unmistakable sign that President Trump realizes he’s heading towards a devastating landslide loss in November is his reversal on a new coronavirus stimulus package.
Trump finally appears to have recognized TODAY after his disastrous ABC town hall meeting that unless he and the Republican-controlled Senate pass and sign into law a much larger stimulus package, he and the Republican lawmakers in Washington and around the country are going to get crushed in November.
The fact is President Trump is falling behind in the polls against Democrat Joe Biden, and they could lose as many as 12 Senate Seats and another 20 GOP House Seats in the November election. The economic malaise in the country appears to be getting worse as a result of the Coronavirus.
Trump’s blaming “heartless” Democrats for Congress’ failure to agree on another bill injecting cash into struggling households and businesses after months of virus lockdowns isn’t working.
American’s recognize that Nancy Pelosi and the Democrats in the House passed a $3 Trillion bill they call the “Heroes Act” and that the GOP Senate’s proposed $500 Billion counter offer that failed to get the needed 60 votes even to reach the floor for a final vote would do little to turn the country’s economy around.
With each poll being reported showing Trump and the GOP in deeper and deeper trouble, it seems Speaker Pelosi is heading towards a huge win in breaking the standoff. President Trump has essentially capitulated by tweeting today…
“Go for the much higher numbers,” saying Congress must give “STIMULUS PAYMENTS to people who desperately need the money, and whose fault it was NOT that the plague came in from China.”
This reversal by Trump should break re-ignite negotiations between the Speaker of the House and Senate Majority Leader that could push through a much larger bill than the $1.5 a bipartisan group in the House of Representatives known as the problem solvers caucus have recently proposed.
The downside for President Trump and the GOP is their sinking in the polls puts Speaker Pelosi in the driver’s seat. This means that she may find herself in a position to push through a bill that tops a $2.5 Trillion bill that gives her everything she and the Democrats want to end the standstill in Senate that has lasted for several weeks.
The White House, to get any stimulus, may have to capitulate to Speaker Pelosi, including on her insistence on bailouts of state and local governments suffering from virus-related financial woes that have devastated tax revenues.
Keep in mind, with the upper hand, House Speaker Nancy Pelosi is not likely to hand Trump an opportunity to mount a PR coup on the eve of the election claiming he pushed through a stimulus package unless it’s filled with all the items that he and the GOP have until now balked at.
The sign of Trump’s willingness to capitulate came after Speaker Pelosi told House lawmakers they would remain in Washington until they take action on the federal aid. At the same time, the chief obstacle to getting a deal with Trump’s chief of staff, Mark Meadows, was quoted today as saying there’s…
“A growing sense that there are still some real needs to be addressed, if the speaker is saying she’s willing to stay in until a deal gets done, that’s also another encouraging sign.”
Meadows may want to paint lipstick on the situation, but the truth is all he ever did was stand in the way of spending deals when he was a member of Congress. Now he’s in the position of having to go on bended knee to get a deal through Congress. Trump’s best bet is to lock him in the White House basement and let Secretary of the Treasury Steve Mnuchin handle the negotiations, which will likely be nothing less than what Speaker Pelosi wants.