Chicago City Wire

Author of Trumponomics and economist Stephen Moore talked with AM560 radio host Dan Proft on the Chicago’s Morning Answer program on April 22 about the replenishment of the Payment Protection Program, the stay-at-home orders and what continued shutdown could mean for local businesses.

Chicago's Mayor Lori Lightfoot has closed the waterfront to prevent people from gathering, and she’s telling reporters that the statewide stay-at-home order could be extended through June 1.

“That’s insane. You’re not going to have a business left. You’re gonna have tumbleweeds down State Street,” Moore said. “You’re going to destroy the great city of Chicago. Every business is going to fail.”

The rationalization and  justification of these orders – to save a single life, as co-host Amy Jacobsen pointed out – drew a fiery response from Moore, who is also a member of President Trump’s Reopening Task Force.

“It’s ridiculous. That is the dumbest thing I’ve ever heard. Have you seen the number of people calling suicide hotlines is up 700 percent?” Moore asked. "We are killing more people in terms of drug abuse, alcoholism, suicide. A lot of the hospitals are shut down. This is the stupidest thing we’ve ever done.”

He hypothesized that if a contest were held for the worst governor in America, it would be a three way race between Pennsylvania Governor Tom Wolf, Illinois Gov. J.B. Pritzker and Michigan Gov. Gretchen Whitmer, all of whom have extended the shutdowns for their states.

“If we don’t get the economy open by June 1, we’re going to have something that is going to feel like the Great Depression,” said Moore. “Businesses, once they’re boarded up and put in body bags, they won’t come back.”

He also expressed his dislike for the Paycheck Protection Program, which he says is full of fraud. 

“It was a mistake to convert this to a forgivable loan. The businesses that do need it, with 5-8 employees can’t get the loan,” said Moore.