Posted on 03/18/2020 7:40:31 PM PDT by ding_dong_daddy_from_dumas
President Trump announced on Wednesday that he will be invoking the Defense Production Act in an effort to help the private sector ramp-up manufacturing and distribution of emergency medical supplies and equipment amid the coronavirus pandemic.
The act, which was first enacted in 1950 as a response to the Korean War and has since been re-invoked more than 50 times since, will streamline production of medical supplies to help the country battle the coronavirus pandemic and require businesses to sign contracts or fulfill orders deemed necessary for national defense.
“If we need to use it we’ll be using it,” Trump said. “It’s full speed ahead.”
(Excerpt) Read more at foxnews.com ...
“Companies are required to accept and prioritize contracts from the government and to prioritize “materials, services, and facilities to promote the national defense or to maximize domestic energy supplies.” While this provision has historically been used to ramp up military production, in the midst of the COVID19 pandemic the act will be used for medical supplies.
The second provision in the act provides financial measures, such as loans, loan guarantees, purchases, and purchase commitments, to speed up the production of materials “needed to support national defense and homeland security procurement requirements.”
The act also addresses voluntary agreements – or what the government says is “an association of private interests, approved by the Government to plan and coordinate actions in support of the national defense.” The proviso permits business competitors to work together to plan and coordinate measures to increase the supply of materials.”
.... all looters and rioters will be shot....
Because that is coming next with these get out of jail free types.
Because Price Signals are not enough, we have to demand production at below market prices?
Nuts.
Do you believe that is what Trump will do?
I hope Trump succeeds in moving a lot of production back here.
Article says “..it has been re-invoked more than 50 times since [the Korean War]”. That would be in two years out of every three since the Korean War. That is weird. For what?
He won’t need it - industry will do whatever he asked them to do voluntarily
That’s because we live in the greatest free country in the world ; and we have the greatest leader that it’s ever had and it’s history
The stock market shows what pathetic loser weenie scum bags they are
I don’t have a list of occurrences, but the Vietnam war lasted a while. I would guess weapons, medicine, and supplies.
Trump said; “If we need to use it we’ll be using it,” he didn’t tell anybody to do anything yet. GM stepped up and volunteered to help produce medical equipment.
I heard the Army Corps of Engineers has been tasked with constructing workable dentures for Nancy.
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