Navarro: The Economy Will Fall into ‘a Chasm’ without Another Relief Bill

On Wednesday’s broadcast of the Fox News Channel’s “Outnumbered Overtime,” White House Trade Adviser Peter Navarro said that Congress must pass another round of coronavirus relief that tops off the Paycheck Protection Program, gives another round of relief checks, and reboots unemployment compensation.

Navarro said, “[W]e are facing a chasm that we are likely to go into unless we act now. Now, what do we have to do? … We need a top off on the PPP, the small business loans. That was extremely successful keeping businesses employed. If you lose a small business, they ain’t coming back. We need to save those. We need another relief check for stimulus to families like the $1,200 check, and we need a reboot on our unemployment compensation, Molly.”

He added, “[W]e are facing a chasm here. Because of the fiscal stimulus and relief packages going down, and we’re entering a lockdown, Molly, a second wave of this lockdown, and those twin forces are going to really hit us in a way that, unless Capitol Hill gets its act together and steps into that breach, to mix metaphors there, we’re going to have an issue.”

Follow Ian Hanchett on Twitter @IanHanchett

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