newfie
Well-Known Member
Mnuchin is arguing that the unemployment rate could hit 20% if nothing is done.
Mnuchin warns jobless rate could hit 20 percent without federal response: report
“Treasury Secretary Steven Mnuchin told Republican Senators Tuesday that without government intervention the U.S. could hit 20 percent unemployment because of the coronavirus, Bloomberg reported, citing people familiar with the matter.
The Treasury secretary did not predict the U.S. would reach that level, but said he believed the outbreak has the potential to do more economic damage than the 2008 financial crisis as he argued for financial stimulus to hourly workers and businesses hurt by "social distancing" amid the outbreak.”
Probably will hit 20 percent for a couple of weeks. We're going add 5 trillion more to the deficit because no one is sitting down and doing the hard number crunching to see how much money is really needed.
Rudy G was interviewed about 9/11 . He stated he way overestimated the impact of 9/11 on new york . he said he failed to recognize that while some industries were severly hurt by 9/11 others profited from the events.