If you torture the data, it will confess.
U.S. economic activity, declined 35% in the April-June quarter. Retail sales are in the tank and about to get worse.
32 million people are receiving unemployment checks - a benefit that just ended July 31. Now a second wave of layoffs, will intensify as the COVID-19 infections depress demand and increase bankruptcies. The expiration of the program will leave millions of gig workers and the self employed among others, who do not qualify for regular state unemployment insurance, without an income. This will undercut consumer spending and the overall economy at a time when new cases of the coronavirus are sky-rocketing, in the densely populated South and West.
This is what President Trump said, "Retail sales surged an astonished — astonishing 18 percent. So retail sales went up an astonishing 18 percent in May. All of this incredible news is the result of historic actions my administration has taken to rescue the U.S. economy from a horrible event that was formed, took place in China, and came here. And they could have stopped it. They could have stopped it. Nobody likes to write that, but they could have stopped it. They know it, and I know it."
What I know is that after 20,000 lies and his ineptitude handing this pandemic, it's time for him to go.
Comments
Sign in or get an account to comment.