CNN’s Poppy Harlow got right to the point on Wednesday with Chairman of the White House Council of Economic Advisers Kevin Hassett, asking him pointedly “what is this shutdown going to cost our economy?”
“Of course it looks like folks are gonna once again miss a check and there’s a lot of enormous focused personal cost,” Hassett said, adding that “a lot of the cost that we’re feeling right now” is shouldered by individual furloughed workers. “On the macroeconomic level, on the overall economy, there’s a loss of about a tenth of a percent of GDP each week.”
“Here’s the issue. I’m not going to buy two sandwiches for lunch when the government opens again, or go buy three lattes that I didn’t buy when it was closed, so you don’t get that back,” shot back Harlow. She noted that growth estimates were already shrinking, and asked “by your calculation couldn’t we then see zero growth if this persists through end of the quarter?
Hassett tried to dodge the subject saying it would “put your viewers to sleep”, but Harlow continued to hammer him, asking again “could we get zero growth?”
“The first quarter has tended to be weak,” Hassett replied as Harlow shook her head impatiently.
“Would we get zero growth?” she asked again. “Could we get zero growth? I want to nail this down.”
“We could, yes,” he said. “If it extended for whole quarter and given the fact that the first quarter tends to be low because of residual seasonality, you could end up with a number very close to zero.”
Watch the video below.
Trump-loving “hate group” leader struggles to defend chauvinism during CNN interview on Portland chaos
Portland, Oregon on Saturday was the scene of another far-right mobilization by groups such as the Proud Boys and Patriot Prayer.
Tarrio had traveled from Miami to take part in the far-right rally in Portland and appeared to be wearing body armor.
Trump’s ‘clown car’ economic team is totally unprepared to handle a financial crash: CNN’s Catherine Rampell
Washington Post economics columnist Catherine Rampell on Friday warned that President Donald Trump's team of economic advisers is woefully unprepared to handle a recession should one strike within the next year.
During a panel discussion of this week's economic news, which included a massive drop in the stock market after the U.S. Treasury yield curve inverted, Rampell explained why Americans should be deeply worried about the prospects of a recession under this president.
"They don't have a plan for what to do if things go wrong, and they could go wrong," she said. "We have this clown car of economic advisers... you have a guy who plays an economist on TV, you have a former Hollywood producer. This is not the dream team who will be handling a crisis if we face one."
CNN’s Anderson Cooper explains why Trump’s Israel gambit was a ‘potentially unconstitutional’ attack on Congress
CNN’s Anderson Cooper argued Thursday night on his show that President Donald Trump’s latest broadside against Democratic Reps. Rashida Tlaib of Minnesota and Ilhan Omar of Michigan was “potentially unconstitutional.”
Trump, who has routinely targeted the Muslim congresswomen and hypocritically accused them of anti-Semitism, urged Israel on Thursday to bar them from entering the country. Reports suggested that Trump has been pressuring Benjamin Netanyahu’s government to take this step, and the Israeli government wasn’t inclined not to. But after Trump tweeted his opinion, Israel made the ban official.