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  • Pollak: Donald Trump corrects George W. Bush's greatest economic mistake

    Pollak: Donald Trump corrects George W. Bush's greatest economic mistake

    President Donald Trump did something difficult and remarkable during the White House press briefing on Sunday: he stood up for the free market in a moment of crisis, when at least half the country is pushing him to abandon it.

    H/T: Breitbart

    Q: Mr. President, when it comes to the Defense Production Act. We know that governments across the country all day today were pleading with you to utilize. the DPA, to us it —

    Trump: Well, it depends which governments you’re talking about.

    Q: — specifically for that allocation piece that you mentioned, Mr. [Peter] Navarro. Why not use it now, if that would answer their pleas for help?

    Trump: Well, we are using it now. The fact that I signed it, it’s in effect. But you know, we’re a country not based on nationalizing our business. Call a person over in Venezuela. Ask them: how did nationalization of their businesses work out? Not too well. The concept of nationalizing our business is not a good concept.

    Trump: Here’s the beauty of it. If we go out and we want, let’s say, masks, we don’t know who to call. But Hanes, who makes things of cotton, various elements, lots of things, it’s a great company. They called us, and they said, “We’re going to make millions of masks.” We got a call today from 3M…

    Trump: If you go the national route, nationalization route. We’re gonna tell a company to make a ventilator? They don’t even know what a ventilator is! In the case of one company, they used to make them, years ago, and they know how to make them. You know, it’s a very complex piece of equipment, frankly.

    Trump: We have the threat of doing it if we need it. We may have to use of somewhere along the supply chain in a minor way. But we have millions of masks being done. We have respirators, we have ventilators…

    Trump: When this was announced, it sent tremors through our business community, and through our country, because basically what are you doing? You’re talking about — you’re going to nationalize an industry, or you’re going to nationalize? You’re going to take away companies? You’re going to tell companies what to do? The truth is most people — nobody would know where to start. There are companies out there that you wouldn’t think of that have called us …

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