In a stunning sign of the times, noted capitalist Jim Cramer and Democratic socialist Alexandra Ocasio-Cortez are both in agreement that Donald Trump has doomed millions of Americans by not aggressively pursuing a second round of stimulus funding. Despite the president and his supporters claim that the stock market is doing great, the CNBC host and congresswoman spent Wednesday highlighting the fact that the success of Wall Street has little effect on what’s happening on Main Streets across America where small business are folding and people are struggling to find work.
Cramer was the first to tackle the dire situation on CNBC’s Halftime Report, where he blasted Trump and government officials for failing to pass a new COVID stimulus package. “I really hate to say this, but I think that Congress has doomed so many companies,” Cramer said. “The president has doomed so many companies.” According to Cramer, independent businesses will not survive the pandemic, which will leave nothing but large chains like Walmart, Target, and Olive Garden:
“I think a lot of these companies… have picked up just a giant amount of allegiance. I do think that these companies have wiped out a lot of smaller companies because there’s no stimulus,” the “Mad Money” host said. Those business, he added, “don’t have credit lines. You can’t keep up. They’re the empty storefronts of the country.”
Later that day, AOC echoed Cramer’s remarks after learning that the administration is using the stock market as an excuse not to rush a second round of stimulus funds even as COVID cases continue to rapidly spike.
“30 million people in this country are at risk of eviction,” AOC tweeted. “Millions of people are unemployed or underemployed from cut-back hours. The economy is not the stock market. We are NOT doing fine. People need help in red states and blue, & our job is to help everyone. This is basic.”
30 million people in this country are at risk of eviction.
Millions of people are unemployed or underemployed from cut-back hours.
The economy is not the stock market. We are NOT doing fine. People need help in red states and blue, & our job is to help everyone. This is basic. https://t.co/M9NwZPGp2p
— Alexandria Ocasio-Cortez (@AOC) November 19, 2020
If AOC and the host of Mad Money are in agreement on government spending, that seems like a pretty good sign that a second round of stimulus funds has transcended partisan politics and needs to happen for the good of the country.
(Via AOC on Twitter, CNBC)