Stimulus Checks Delayed: To Get Trump's Signature On Them?

Mish

Stimulus checks: Where the hell are they, and why?

The New York Times reports Stimulus Checks Will Include Trump’s Name

President Trump’s signature will appear on the economic stimulus checks that will be mailed to millions of Americans beginning next month, the Treasury Department confirmed on Tuesday.

The decision to have Mr. Trump’s name appear on the checks, which is a break in protocol, was made by the Treasury Department after Mr. Trump suggested the idea to Treasury Secretary Steven Mnuchin, according to a Treasury official.The president’s name will appear on the “memo” section of the check because Mr. Trump is not legally authorized to sign such disbursements.

The decision to have Mr. Trump’s signature on the checks was first reported by The Washington Post, which said the move would result in a delay for getting the checks out the door because of technology changes needed to include the new signature.

Representatives for the I.R.S. and the White House referred questions to the Treasury Department. A Treasury official, speaking on the condition of anonymity, denied that the decision would delay the disbursement of the checks, and said that they would be mailed beginning next week.

Whom to Believe?

We have an official rumor and an official denial.

It is rather curious that the official denial was made anonymously. But, who knows?

We are dealing with the Trump administration and the Washington Post, both known liars. So you make the call.

Foolish No Matter What

If true, it will be a campaign scandal.

True or false, it's the independents and swing voters who matter, and more of them that not will be shaking their heads over the arrogance of this petulant move even if the delay aspect is false.

This was a no-win move by Trump.

Mike "Mish" Shedlock

Comments (76)
No. 1-28
Tony_CA
Tony_CA

At this point, you cares about an election. We are effectively in a police state.

Tony_CA
Tony_CA

Our governor in CA, said we will be in a form of lock down for up to two years. Our economy will being a smoking hole at the point. Great leadership.

Tengen
Tengen

Not seeing too many delays for the bankers, per usual.

The great thing about the virus is that it truncated our timeline toward inevitable implosion. The sooner we get our Gorbachev equivalent to oversee the endgame, the sooner we can have a chance at a better society. It really seems like we've been stuck in our own Brezhnev era for the last 20 years. This rate of CTRL+P it can't last too much longer, especially as people figure out how much better the Fed's buddies are treated than the rest of us.

Sechel
Sechel

well it is donald trump's money you're getting.
congress and the senate had nothing to do with this.
we should all be appreciative

Trump was asked about this later and he denied it. Now we see its true. so much for the veracity of a trump denial

He is missing an opportunity though. He should only pay us half, keep the other half and make us take him to court for the remainder. That is how he paid his contractors

njbr
njbr

Hold your breath....

The paper checks would be prioritized by income level, with the lowest-income Americans receiving their checks the earliest, according to The Washington Post.

Individual taxpayers who earn less than $10,000 would have their checks mailed on April 24, while those earning $20,000 or less would have their checks in the mail the following week, May 1. That would continue week by week through early September until reaching the threshold where households are cut off from the checks, which stands at $99,000 for individuals and $198,000 for married couples, the publication notes.

The memo from the committee's Democratic majority says the timeline it made public Thursday was based on "extensive conversations with the IRS and the Department of Treasury.'' The timeline is subject to change, given ongoing discussions between Congress and the Trump administration......

Previously, on April 2...

Mnuchin pushed back when asked about the lengthy timetable during the briefing.

"I don’t know where you’re hearing these things," he said. "I told you this would be three weeks, I’m now committing to two weeks. We’re delivering on our commitments. The IRS, which I oversee — within two weeks, the first money will be in people’s accounts."...

"This money does people no good if it shows up in four months," he said.

....A Treasury official said Thursday (4/2) that the department expects 50 million to 70 million people to receive the payments via direct deposit by April 15, and that most eligible Americans will get their payments in the next three weeks. The person said the paper checks would be sent first to the lowest-income people....

njbr
njbr

Are you behind in a loan to your bank? Is "direct deposit" a good deal?

...The Treasury Department effectively blessed this activity on a webinar with banking officials last week. In audio obtained by the Prospect, Ronda Kent, chief disbursing officer with Treasury’s Bureau of the Fiscal Service, can be heard explaining that banks had posed questions to her about “whether these payments could be subject to collection from the bank to which the money is deposited, if the payee owes an outstanding loan or other payments to the bank.” She responded—twice—that “there’s nothing in the law that precludes that action,” while counseling that the banks’ compliance officers should consult with their legal offices about what policies their banks will implement. “You will want to know for your bank what your bank has decided to do.”...

thimk
thimk

A hvac installer/business owner laughed at me when i suggested that a stimulus check would be deposited in his account . He replied " Just as well send it back , he said ,I owe more than that in taxes" . Sadly I agree.

millynical
millynical

Got my money direct deposited yesterday, can't complain.

Axiom7
Axiom7

Has everyone lost their minds?!?! Can anything POSSIBLY be less relevant (economically at least) in the current malaise? Here is a quick decision tree about the topic of Trump's signature.

Case 1: WaPo is 100% telling the truth
Outcome: completely irrelevant

Case 2: Trump is 100% telling the truth
Outcome: completely irrelevant

Case 3: Wapo and DT are 50% each telling the truth
Outcome: completely 100.0000000000000000% irrelevant to the economic situation

I hope that is helpful

ohno
ohno

Maybe the independents and swing voters will shake their heads at this. But I suspect many of them will go cross-eyed knowing what the alternative is. A real life dumb and dumber episode. I'd rather have Mahomes printed on the check and shipped with a bottle of bbq sauce.

Tony Bennett
Tony Bennett

"Stimulus checks: Where the hell are they, and why?"

...

Well, I'm sure they'll do better on second check ... or 5th?

Trump will do his durndest to buy election ... how high will deficit go this year? ... $5 trillion? ... $6 trillion?

RonJ
RonJ

"This was a no-win move by Trump."

It's really a nothing burger, except to those who already hate Trump.

Hugh Hewitt was talking this morning about the Democrats holding up 250 billion dollars in additional aid for small businesses, to push their ideological pork into the bill. This is the second time Democrats have pulled this kind of stunt, during this crisis.

STF
STF

Explain to me how this is not directly buying votes ?

Zardoz
Zardoz

I know a lady that already got her check. 4 bucks and change. She makes about 50k. Is trumpty sure he wants to be associated with those checks?

klausmkl
klausmkl

This is disaster relief checks. Stimulus is not the correct word. Another fake news story.

Greggg
Greggg

Why not put his signature there? He's already on a coin. https://i.dailymail.co.uk/i/newpix/2018/05/11/14/4C18E72000000578-5718129-image-a-71_1526046822076.jpg

tokidoki
tokidoki

I would hang that check and make sure I vote the other way come election time.

The guy is truly a big moron.

wootendw
wootendw

"This was a no-win move by Trump."

Doesn't matter if it's politically good. It's still good.

These checks go to a lot of people who don't need them - at the expensive of future taxpayers. The recipients will just have to endure the 'honor' or humiliation (depending on their POV) of accepting money from Trump.

lol
lol

All 3rd world banana republics has el president's signature on there currency!Where's his picture of el presidente Fulgencio Trump in a generals uniform and chest full of medals like Chavez or Maduro?Oh that'll be at his coronation!

nothingbutblueskies
nothingbutblueskies

Mine was deposited into my account today. Sorry all of you with TDS and your bizarre rants against Trump. Trump is not perfect, but he's not Satan either. I'm amazed at how the comment section gets hijacked just for some of you to go gonzo crazy on Trump.

Mish is completely fair with Trump, and it's his blog so he can say what he wants. But the comment section has gone nuts and I rarely read it now.

KidHorn
KidHorn

It's a good move politically. If not, the dems wouldn't be up in arms about it. Trump's a jerk, but he has much better political sense than the dems. By a wide margin.

michiganmoon
michiganmoon

We do direct wires with the IRS and we've had our Covid-19 stimulus money deposited days ago. We made about 140K for 2018 (we are waiting to pay 2019 since they are letting us) so we shouldn't have been prioritized as low income.

I guess physical checks just take longer to print and mail.

Helene84
Helene84

I don't know why this small delay would hurt Trump after Pelosi held up the bill for over a week because she wanted to make sure she could stuff ever last bit of corporate donor pork into it.

BullBearLoaf
BullBearLoaf

I love following Mish. This article however must be bull because I received my stimulus check yesterday and I'm no where near the bottom but more towards the top of the qualifying income level. Direct deposit, no issues. Two other family members are the same. They already received it. Hmmm.....

Dubronik
Dubronik

Let's just Dump the Trump. Incompetent Fool

Carl_R
Carl_R

Won't matter what the truth is at this point. I heard on the radio today that stimulus checks are being delayed for a few days to add Trump's signature. That, no doubt, is what went out around the country. Trump will get a lot of hate for that move. People want their free money now.

Herkie
Herkie

I still have not been paid and still have no idea if or when I will be paid, butas a 100% disabled veteran I am used to getting fucked without lube.


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