WATCH: CNBC’s Jim Cramer Calls for $1 Trillion in War Bonds, Larry Kudlow Calls it a ‘Great Idea’
CNBC host Jim Cramer conducted an interview with Larry Kudlow on Monday in which he and the White House chief economic advisor flirted with the possibility of using war bonds to sustain America’s financial endeavors to counteract the coronavirus.
During a conversation between the two on Squawk on the Street, Cramer said “there are people who want to contribute so badly” to the fight against Covid-19, so he asked Kudlow “What’s the matter with doing a trillion dollar 30-year covid war bond?
“Do you know how quickly that would sell out?” He continued. “We feel so helpless, but we want to stop this. Everyone in America wants to stop it and we want to find a way to do it. Let us.”
Kudlow called it “a great idea,” saying he has held discussions on what the maturity and the rates should be if war bonds are brought back.
“This is a time, it seems to me, to sell bonds in order to raise money for the war effort. In this case, the pandemic effort. In this case, the effort to keep families and individuals in businesses afloat,” Kudlow said. “I am all for it. This would be a long-term investment into the future of American health, safety, and the economy. So from my standpoint, technical considerations aside, I think the concept is exactly right.”
Cramer also took to Twitter to promote the idea.
War Bonds–it is time 30 year, trillion dollars– 2%.. we want this piece of paper. We want to win this war! and more than just charity!!! We need to think BIG!
— Jim Cramer (@jimcramer) April 6, 2020
Watch above, via CNBC.
