Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario.CNN has reached out to the Treasury Department for comment.In the same meeting, Mnuchin also said he is concerned the economic ramifications of the coronavirus pandemic could be worse than the 2008 financial crisis, the source said.
Read MoreA 20% unemployment rate would be double the unemployment rate during the Great Recession and the highest in the US since the Great Depression. A 20% unemployment rate would leave more than 32 million Americans out of a job based on the current US labor force.Mnuchin pitched Republican senators on Tuesday on a $1 trillion economic stimulus package, which would include a first wave of checks to Americans that would cost $250 billion, a separate source familiar with the matter told CNN.
May America suffer the consequences of its actions in electing Trump!
Thought this was all a hoax? Now a warning?
What he trying to avoid saying is America will hit 20% unemployed in the near future due to COVID 19. This way when it happens his butt is covered.
I believe it is going to hit 50% within 30 days. Who the hell do they think they are kidding.
And cost them their seats in November! 🤨
Should have told Trump that in the beginning.
Who’s gonna pay for that?
TrumpVirus🙄
It not a blue or red thing so shut up with the division
Try the fact that the senate just changed the provisions for sick days and time off for the worse. Again the Republicans only care for the elite not the 90% of population.
But I thought it was a hoax?
All would be same through the world.. so sad..
提高失业率很简单，每个城市的主干道每年翻修三次——中国GDP增长的法宝之一
Sinply send the temporary h1b & opt workers back to India. Problem solved. The whole purpose of temporary work visas is to fill temporary labor shortages. If there are no shortages, the program should be shut down. S386 Trump Fed WallStreet MAGA Swamp BigFatUglyBubble
MAGA!!!!!!!!!!
If the admin is telling us 20% I feel like it must actually be Atleast double that.
Trump is REALLY working to undo Obama's legacy - first the market, now the economy as a whole
well now! That is one hell of a democratic hoax! FFS!
I'm sure they'll lie about it until January and then try to blame PresidentBiden for it.
So unsure? Confidently change 20% to 50%
Shouldn’t he have briefed Democratic Senators also?
Reverse all of the TAX CUTGIVENTO THE RICH!
That is a very conservative number
socialism
OK
It’s ok. Trump will save us. 🤣
It's now Wednesday morning and still no relief bill and millions more people who can't go to work. Waiting....
Is Trump going to blame Obama for that, too? He does for everything else.
Duh. If everything is shut down crap like this will happen. Stop being a problem CNN.
Democrats and media will be very happy with this.
You guys just report alleged, anonymous sources and possible tragedies all day long!!! You really do attempt to fear people into misery!
All the bragging about everything and along came a virus and trump had it all under control and then came the lies lies and more lies and here we are, and too little too late and we are in a crisis lead by trumpty dumbty
Well the Obama streak is over let’s see how the bankrupt president get America out this mess lol
No shot Einstein! Each time this loser Mnuchin is always asking for more money. How about your wife stops flying private on the tax payers dime?
Which is exactly what you want. CNN= Communist News Network
I am sure that can’t happen on Trumps watch, must be the democratics at fault. Ya right
Sad. CNN fake news now only has a handful of useless idiots that It can brainwash😂
Temporarily. Technically with all the furloughs and temporary closures, we could be at 20%, but only for a short time, not years. Get real.
Yes, and you should resign now.
The DNC when they heard those numbers
This will reverse everything Trump took credit for as he leaves the Whitehouse. The irony😂
Yeah but that $1,000 check should cover it right?
Who was the source? 🤔
Thought it be more than that after media hysteria, no one can work until virus gone. If business or school is open and some get infected then that will be the front page news how they didn’t listen. Media not swine flu reporting.
I must be the only person who thinks they are over reacting. Most people get better after a couple of weeks. Only some people die.
Well, you can’t have a total shutdown without a bad unemployment report. This should not be a surprise.
The driver of the global engine vehicle has swerved off the road. Please can someone help, the world depends on us, getting this vehicle back on the right road. COVID19
Holy fucking shit
I think that’s being conservative...
Yay more fear mongering from the media for views!
Covfefe!
'sources say' I don't think any Republicans talk to CNN at this point so I think this is just CNN trying to rouse more panic.
Yeah to go idiot keep putting fear into the people
So much winning huh? DemocraticPrimary
Putting us in a recession or depression Which is it because it’s one or. GOP useless
This isn’t a Republican problem. It’s a worldwide problem. CNN will do anything to spin this disease to make it appear Trump et al are responsible. Americans know better, but the libs will continue with this losing strategy. They’ve got nothing else.
And what exactly is his explanation for only talking with Republicans?
Trump administration has created a monster. Most of the trump base believes this is just like the common cold or flu. How can they convince them otherwise after a whole month arguing that case themselves. Good fucking luck America. Please dont come to Canada.
'source says' lugenpresse
Irresponsible reporting from CNN. What the fuck happened to CNN?
Time for a second New Deal with eviction protection and a UBI.
Spread that fear !!
Not only does the current administration raise the debt ceiling to an all time high, our nation just went back about 20 years.
The cure may be worse than the virus.
This is so that when it goes up to a more realistic 10% they will say, see what I did, it didn’t got to 20% like “people were saying”. Kinda proves the current job nums have a goey foundation.
He’s complicit, as a senior advisor to the president*!
Where are all The Cult members blaming CNN for reporting exactly what he said🤨🤨🤨🤨🤨🤨
Horseshit
The last time the US unemployment rate was 20% was in 1935.
So do you count it against unemployment if your told to stay home?
So send put a hold on all bank loans including mortgage payments until this is over! They can add it to the principle at the end, as well as a stimulus package. It would cost less then going into a recession
Damn that’s like a record high even for Obama’s time
On the bright side, Joe Biden will take over the steering wheel of the country in as much shit shape as Barack Obama did. How very original and GOPish !
foodshortage We may be limited to grocery market rations with no warning. PLEASE SHARE AND RETWEET
I'd this guy short selling the market?
So those who used to say, God sent us Trump...for what again?!!!!!!
Eloquent lips are unsuited to a godless fool— how much worse lying lips to a ruler! Proverbs 17:7
They need to cut every household a $1,000 check every month during this crisis
Thank you CNN for continuing to create panic. Doing a great job.
Ya....Trump is so good at MAGA we need leadership not TrumpIsAnIdiot
So, Munchkin says unemployment may reach 20%. If so where will the buck stop?
good news for CNN. This is all CNN want to see because of their hatred for Trump
If unemployment goes that high Bernie might be the way to go corporations will be attempting to save their bottom dollar
The last time the U.S had a yearly unemployment rate was 1936.
It's already going up.
Don't bail out the airlines!!!!
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