An empty parking lot is seen at a temporarily closed Kohl's department store, Wednesday, April 29, 2020, in Havertown, Pa. Devastated by the coronavirus, the U.S. economy is sinking. Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year.
The 5% drop was the sharpest quarterly decline since an 8.4% fall in the fourth quarter of 2008 during the depths of the worst financial crisis since the Great Depression. Forecasters believe the economy will rebound in the second half of the year. The Congressional Budget Office is predicting a 21.5% growth rate in the upcoming July-September quarter followed by a 10.4% gain in the fourth quarter.
President Donald Trump, who has to face voters in November, has declared that the economy will come roaring back with a V-shaped recovery starting this summer.
Source: Entertainment Trends (entertainmenttrends.net)
Those corporate tax cut though..... TrumpIsLosing
Wonder why? Self inflicted.
whatisaidis TrumpRecession VoteBlueToEndThisNightmare ByeDon2020
rleas Let’s inform the clueless Wall Street analysts offering this pathetic advice to their clients.
. realDonaldTRUMP is a loser, and Trump mismanaged the covid19 pandemic, Trump tanked OBAMA's great economy, and killed hundreds of thousands of Americans. Trump is fulfilling Russia's foreign policy objectives, America's demise first among them. Vote the bums out.
Tax cuts to billionaires do nothing to strengthen a consumer based economy. GOP policies make us weaker. They do this every time.
Why does th take 3 months to know what happened 3 months back? Thought us was smart with data? Oh I see it’s only Wall Street with daily Rucker’s that is live. All others data depends on market settlement and takes time for us to to know. Primitive behavior. Pls change & catch up
davidfrum Trump finally delivered on his 5% GDP promise!
Nonsense Trump told me we got the best economy of all time
realDonaldTrump must be tired of winning
Trump once proclaimed 'We will win so much, we will be tired of all the winning' beside Myself is anyone else tired of all this 'winning' yet? The GOP is destroying Democracy and Justice before our very eyes, question is, will we allow this to continue, I'm going to say NO.
BUT WE ELECTED A BUSINESS MAN
All the more reason for McConnell and Senate republicans to begin negotiating with the House over another round of relief legislation, IMMEDIATELY!
VERY MUCH UNDER CONTROL HIPPIES
After elections and Biden as President things will improve. This is American media.
Wonder why?
Are we great again?
davidfrum Holy Shit. If Q1 was -5% Q2 will be -40%
The KEEP AMERICA GREAT folks can't be serious- 13.3% unemployment $3.7 TRILLION deficit -5 GDP MILLIONS of jobs lost 20 million unemployed 122k dead Americans Widespread civil unrest NK developing nukes Iran developing nukes China buying little AG US isolated FAILED PRESIDENCY
Keep America Great?
People need to remember how bad the Dems wanted this virus. Not saying Trump is off the hook but the Dems slowed the process even further with all the xenophobia accusations. No government really handled this correctly. Didn't Trump want to open by Easter?
Can someone knowledgeable on this help me? Coronavirus impacted three weeks of the entire quarter. Would we have had positive growth if not for that?
More winning!!!
davidfrum WINNING! I hope those midwest workers know they really owned us elite libs who are still doing fine while they are still dirt poor.
davidfrum TrumpEconomicFailures. TrumptheWorstPresidentEVER
This what happens when your leadership is none existent. Now he’s gonna spin this story like he does every story and his supporters are going to gobble it up. Sure he couldnt predict a pandemic but he couldve soft the blow with proper leadership then running to his bunker.
COVID
ai don't like to sleep lone
Sir I search a drug that resolve all signs and symptoms of corona in a single dose that can play a major role in corona pandemics control of covid
Turns out a complete lack of leadership effects economies...
TrumpDepression and this is why two White Hoise Economists have bailed! They know whats coming!
davidfrum It didn't have to be this way. Countries that flowed the advice of scientific leaders are now opening safely with economies suffering less damage than ours
davidfrum Thanks Obama!
THANKS REPUBLICANS. Thanks realDonaldTrump
And things only started to shut down in mid-March, the downturn had begun before (also because of Coronavirus).
Who knew Trump would be so rotten?
davidfrum And the stock market booms.
Welcome to the TrumpRecession.
davidfrum
davidfrum TRANSITION TO GREATNESS?
What a shocker. This has only been expected since March. Stock correction is long overdue.
*because of the GOPs handling of the coronavirus pandemic.
TrumpDepression
MAGA
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