Why are Democrats dreading a rapid recovery from the COVID-19 recession?

The Will County NewsHome#FakeNews  Why are Democrats dreading a rapid recovery from the COVID-19 recession?

Why are Democrats dreading a rapid recovery from the COVID-19 recession?

By Steve Balich -May 28, 202001

#twill #tcot #leadright #sbalich #covid-19 #depression #Democrats @ingrahanangle @realdonaldtrump @tuckercarlson @danproft @tomilahren

Steve Balich Editors Note: Sad that the Democrats want power so bad they will do anything to attempt destroying the United States and all its people. Democrats who are really Socialists through gas on any attempt to increase the fire behind this Covid-19 crisis which is ongoing because of very faulty data. The media just goes with the socialist narrative. Any deaths are a sad thing!
We do have to understand that the Country has 3.2 Billion 3,200,000,000 people with 100,000 deaths do to covid-19. There is actually less than 100,000 deaths because some States like Illinois include all deaths as covid-related and hospitals get more money from a covid related death. Point being what percent of the population actually is dying. The socialist media never says anything about this.
The total number of cases is always reported but those that no longer have the disease are never taken out of the number of cases. So the more testing that is done, the higher the number of cases. Some of these people that test positive and are included in the numbers don’t even know they are sick.
With fake news data the media is trying to scare people. They make it seem the sky is falling. While at the same time the shutdown has given us a higher number of suicides than last year. We are at 15.3 suicides per 100,000 people. Ware also seeing big increases in mental health problems like anxiety, depression, and loss of hope, the feeling of helplessness. Crime is on the increase, as is Domestic violence. More people have lost their job than at the time of the great depression. Small business owners are loosing everything they worked all their lives to achieve, while at the same time ending the employment of all those they employed.


Daily Torch

By Robert Romano

Another 2.1 million Americans filed for initial jobless claims the week ending May 23, demonstrating that the U.S. economy is still contracting, but there may be a ray of hope as 3.8 million fewer Americans remained on unemployment insurance the week ending May 16, dropping from 24.9 million to 21.05 million as states are reopening.

Mixed numbers like that make it hard to begin to spot a trend. It had gone from 22.5 million to 24.9 million from May 2 to May 9. So there’s a lot of volatility to consider. I think you’d want to see a few weeks in a row where people are coming off of unemployment and back to work before saying that we’d hit a labor market bottom that we are all hoping for.

Well, almost everyone. Apparently top  Democratic officials are quietly “dreading” a robust economic recovery before the election in November, fearing that it will fuel a political surge for President Donald Trump.

A Politico story quoted a former Obama official saying “This is my big worry… It’s high — high, high, high, high” that the economy will begin a rapid recovery from the COVID-19 depression before the election in November.

The Obama official was responding to an early April presentation by Jason Furman, a former Obama administration economist proclaiming that “We are about to see the best economic data we’ve seen in the history of this country.”

The case here, and we may be starting to see signs of it, is that because the economy shut down rapidly, furloughing tens of millions of workers, that as states reopen, tens of millions of Americans will quickly be returning to work, resulting in excellent jobs numbers going forward with millions of jobs being created each month. Hence the worry from Democratic political operatives.

Just another reminder of the cynical nature of partisan politics, where to oust an incumbent the opposition party needs to hope for bad news for America.

But it remains speculative. The pandemic , which has claimed more than 100,000 lives, could help keep things closed longer than Furman is projecting.

Again, even with 3.8 million coming off of unemployment benefits, another 2.1 million were added. The result is upwards of 23.1 million jobs lost in the pandemic. Add to that the 5.8 million who were already unemployed  and you’re still looking at almost 29 million Americans out of work, and an effective unemployment rate of 17.6 percent, the most since the Great Depression.

Still, that’s down from the 20 percent I projected a week ago — again owing to the volatility expressed in the data plus the week lag in continuing claims data — a trend I’m sure almost all less politically minded Americans hope continues.

So, have we hit a labor market bottom? It’s still too early to tell. We should ask the coronavirus.

Robert Romano is the Vice President of Public Policy at Americans for Limited Government.

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