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“We see an unemployment rate that approaches rates we saw during the Great Depression,” Hassett told ABC’s “This Week.” “During the Great Recession we lost 8.7 million jobs in the whole thing. Now we’re losing that many every 10 days”
About Trump’s record on the economy...
I bet if he could turn back the clock he wouldn’t have been doing that Touchdown dance after restricting travel from China and would have recognized there was a lot of hard work that needed to be done right then and there to save the US from the coming health/economic crisis. Or maybe he isn’t smart enough to learn from his mistakes.
He doesn’t deserve a second chance to prove it one way or another.
Surely anyone touting this very temporary economic downturn, even those relishing in it, understands that the economy itself did not cause the back up, but rather it too is a victim of the plot hatched by the Chicoms and their willing accomplices in the DNC and the lamestream media. Under Trump's leadership the economy will bounce back strongly, since it was fundamentally sound. No, more than that, it was roaring. If creepy sleepy quid pro quo Joe is elected we'll see another weak "recovery" as we saw under obummer/biden in 2009. I put recovery in quotes because the economy never did really recover under obummer, it just experienced some bounce back and organic growth that happens "just because."
Oh, and more thing. Since "the guvmint" has thrown $trillions into this hole with a design on fixing everything, it better, eh. Otherwise it will demonstrate that the guvmint can't fix a damn thing. obummer's "shovel ready" package flopped big time. It was Bush's fault, if you remember back to 2009. But, it did nothing to boost the economy. Now, the guvmint has really "gone all in." It had better work else more Americans will see the truth. So! if you're a big believer that the guvmint can fix everything you should be confident the economy will come roaring back. I KNOW it will, and the role the "stimulus" played will be measured. I think it will have some amount of positive effect since the payroll portion of this is a life raft for the economy. But truthfully, it was coming back, under Trump, regardless. Hopefully this will help it come back quicker.
Under Biden...well, we are looking at a feeble recovery, at best.
You think that all the 26 million Americans that lost their jobs are going to be employed again by the end of the year? What percentage?
And as your new favorite doctor from Stanford pointed out, we had a chance to contain and isolate this but the administration failed to deliver on testing in February. This lockdown is also a result of that failure.
Labor is a lagging indicator, it always is. Many businesses/companies will try to go as long as possible running skeleton crews so they can recover lost revenue quicker. We saw the same thing in early 2017 after Trump took charge and our economy was actually real again, for the first time since 2006 prior to that. Wages and employment numbers were weak, slowly building as businesses recovered from 8 years of obummer. We had a discussion about that before. This time the wound wouldn't have lasted 8+ years so the prospects for a fairly quick recovery will be there. But no, all 26 million won't be employed one week after this ridiculous lockdown is lifted.
Or I will make it easier. Are we going to be closer to 16% unemployment or 4% unemployment by the end of the year?