“Doomsday economists had predicted a loss of 8.5 million jobs in May, but the economy roared back and added 2.5 million jobs instead, thanks to President Trump’s leadership and the solid foundation his policies have laid,” a statement from campaign manager Brad Parscale said.
Huh? As Krugman goes on to explain, the seemingly encouraging job report could actually “reinforce the White House inclination to do nothing and let emergency aid expire.”
That’s alarming to Krugman and other analysts because what May’s job numbers do seem to prove is that the Payroll Protection Program, which encouraged small businesses to keep workers on payroll during the pandemic, was instrumental in helping bring back workers in May. “U.S. unemployment [is] at 13 percent [with] trillions in government aids,” wrote The Washington Post‘s Jeffrey Stein. “What happens when huge infusion runs dry in July?”
But as of Thursday night, the Post was reporting that President Trump’s recovery plan “largely amounts to optimism that as pandemic restrictions are loosened, the nation’s economy will turn the lights back on by itself.” As the Post goes on to explain, Trump is hesitant to offer states further aid, and opposes extending the soon-to-expire $600 unemployment bonus for laid-off workers.
White House economic adviser Stephen Moore seemed to confirm Krugman’s fears. “There’s no reason to have a major spending bill,” he said in response to Friday’s job numbers. “The sense of urgent crisis is very greatly dissipated by the report.”
Not everyone shares the opinion that the job report lets the federal government off the hook. “The jobless rate, even if it declines, I believe is going to stay extremely high through the end of the year,” former Federal Reserve chair Janet Yellen told the Post. “It’s absolutely essential to have another package that will extend unemployment benefits beyond the summer. That’s going to be tremendously needed.” Jeva Lange
This content was originally published here.
In what can only be described as a modern day tragedy, the dementia-laden Joe Biden was told today who his new running mate would be. We no further proof that the radical left is in charge of the Democratic party.
For about four months I’ve been following Doctor Mobeen Sayed. He goes by the name “Dr. Been” online. He does a few Youtube live videos per week that are principally aimed at training other doctors. While the material might be a bit heavy for ordinary citizens, I think that most of you will get the substance of the broadcast.
CHAZ Riots Reignite, 150 People Loot Seattle Businesses As Trump Threatens MAJOR Tactical Deployment. The group is forming in the same place where the CHAZ took place last month, Cal Anderson Park. Only this time the far-left mob is rioting about town smashing windows, setting fires, and looting businesses.
I downloaded this video from Youtube just minutes before they deleted it for violating community standards! Let that sink in! How the hell can such an informative video be banned from YouTube? Clearly those who run Youtube are subversives with a hidden agenda to do you harm! The sooner the Federal Government moves on Youtube for anti-trust violations, the better! This kind of subversive terrorist type behaviour cannot be tolerated from big tech organizations.
In 2014 the US DOJ under the guidance of Obama’s Eric Holder launches an investigation into the Seattle Police Department. Who was charged to head this “investigation”? None other than the current Mayor, then US Prosecutor, Jenny Durkan.