Dems FEAR Economic Recovery
(RightWing.org) – The Chinese virus pandemic and the lockdown imposed to limit its effects have pushed the US into its most dramatic economic downturn ever. With jobs evaporating, wages drying up and GDP in freefall, the political focus is on getting the economy moving again as soon as it’s safe to do that. Well, unless you’re a Democrat, of course.
The Wuhan coronavirus has been a savage blow to the US, with more than 100,000 deaths as of May 26, and well over a million more currently sick. What worries the administration most is if the economic downturn turns into a collapse, that could kill a lot more Americans than the virus has.
- The US economy has been devastated by COVID-19 and the accompanying lockdown. Nearly 15% of the American workforce is unemployed, a figure usually only seen in failing southern European nations and Latin American banana republics. Economic growth has been slashed from 2.65% in the first quarter of last year to 0.32% this year — with a much sharper fall expected when the second quarter’s numbers come out.
- There are well-documented links between poverty and reduced life expectancy — and if the economy stays on this downward track, there’s going to be a lot of poverty in the US by the end of the year. The administration knows it has to get the recovery underway quickly.
- However, it seems not everybody wants to see the economy recover any time soon. The Democrats are on a high right now, encouraged by polls showing Joe Biden ahead of Trump in some parts of the country.
- These polls aren’t anything for President Trump to worry about. The rapid surge in unemployment, to a level not seen since the Great Depression, would usually doom an incumbent president. However, financial experts think the economy will bounce back fast — a so-called V-shaped recovery.
- Many Democrats are aware of that, too, but unlike the administration and ordinary working Americans, they don’t like the idea.
- Jason Furman, who served as an economist in the Obama administration, is warning that “We are about to see the best economic data we’ve seen in the history of this country.”
- That sounds unlikely, but Furman expects to see an explosion of hirings and rapid growth as lockdown lifts and the economy rebounds. He told Politico last week, “you can get a big jump out of that.”
- Larry Kudlow, who heads up the National Economic Council, agrees. He says the third quarter of this year could show the fastest GDP growth since records began – and that could play out very well for Trump in the last weeks of the election campaign.
With senior Dems worrying what a fast recovery could do to Biden’s chances, maybe it’s time to look again at why left-wing governors are the most reluctant to start undoing the lockdown and getting their states back to work. Are they really trying to keep us healthy — or do they just want us to be poor, scared and angry when we cast our votes in November?
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