News and Commentary

Pelosi Suggests Minimum ‘Guaranteed Income’ Should Be Looked At More Closely
WASHINGTON, DC - DECEMBER 19: Speaker of the House Nancy Pelosi (D-CA) holds her weekly news conference at the U.S. Capitol December 19, 2019 in Washington, DC. Pelosi has not set the number of managers she will assign to President Donald Trump's impeachment trial and has not said when she will send the articles over to the U.S. Senate
Photo by Chip Somodevilla/Getty Images

Speaker of the House Nancy Pelosi (D-CA) told MSNBC on Monday morning that the Paycheck Protection Program, which extends loans to small businesses to cover certain costs and to keep employees on payroll, was not sufficient and that lawmakers should begin weighing the option of a minimum guaranteed income, although she declined to explicitly endorse the policy position herself. 

“Others have suggested a minimum income for a guaranteed income for people. Is that worthy of attention now? Perhaps so,” Pelosi told MSNBC host Stephanie Ruhle on Monday morning after talking about the Paycheck Protection Program. “Because there are many more people than just in small business, and hired by small business as important as that is for the vitality of the economy — and other people who are not in the public sector, meeting our needs in so many ways, that may need some assistance as well.”

The idea of a minimum guaranteed income recently gained popularity in the political sphere, in part, through heavy promotion from former Democratic presidential candidate Andrew Yang, who referred to his plan to give American adults $1,000 a month as “The Freedom Dividend.” 

According to The National Bureau of Economic Research, a universal basic income plan would cost about $3 trillion a year. 

Critics of Washington spending have recently found an unlikely ally in political commentator Bill Maher, who grilled Pelosi during an interview on Friday after President Trump signed a bill to add more funding to the Paycheck Protection Program. 

“I know we can bail out certain sectors as we have done in the past. I don’t know how you can keep indefinitely writing checks,” Maher told Pelosi on Friday evening, reports The Hill. “We were 20 trillion in the hole to begin with, and all world governments who are already in debt are doing this. How can the whole world be writing this funny money?”

In response to Maher’s comments, Pelosi said the current situation was a “matter of life and death” and more an “investment in the lives and the livelihood of the American people.” As such, remarked Pelosi, “we expect a return on this money.”

“Well, it will recover unless people get wise to the fact that we’re just writing checks with money that doesn’t exist,” said Maher. “I mean, what is the point of bailing out banks that are just going to loan back the money that doesn’t exist to us again? It seems like it’s a house of cards that could, in the end, wind up hurting more people than the disease.”

The Congressional Budget Office, which offers nonpartisan budget analysis for the legislative branch, projected on Friday that the economic deficit for the 2020 fiscal year would reach $3.7 trillion, and that the national debt would reach 101% of the GDP during the same time frame. 

The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a subscriber 

Got a tip worth investigating?

Your information could be the missing piece to an important story. Submit your tip today and make a difference.

Submit Tip
Download Daily Wire Plus

Don't miss anything

Download our App

Stay up-to-date on the latest
news, podcasts, and more.

Download on the app storeGet it on Google Play
The Daily Wire   >  Read   >  Pelosi Suggests Minimum ‘Guaranteed Income’ Should Be Looked At More Closely