Quantcast
Connect with us

Trump White House hammered for covering up their own economic projections as jobs vanish

Published

on

The Trump White House has decided against releasing midyear economic projections this summer, breaking precedent at a time when unemployment is expected to top 20 percent.

The Washington Post reports that the administration is not releasing updated economic projections that “would almost certainly codify an administration assessment that the coronavirus pandemic has led to a severe economic downturn” with massive job losses that have topped 36 million in just two months.

ADVERTISEMENT

Budget experts who spoke with the Post said they were not aware of any other time when the White House had suppressed its own economic projections — and both Republican and Democratic economists said that the decision looked like it was influenced primarily by politics.

“It gets them off the hook for having to say what the economic outlook looks like,” conservative economic Douglas Holtz-Eakin explained.

“There is no logistical reason they couldn’t do it,” Bill Hoagland, a former Republican staff director for the Senate Budget Committee, told the Post. “It seems more likely they do not want to bring attention to the high level of unemployment they’d have to project for this year, and into next year.”

And Jared Bernstein, a former economic adviser to presumptive Democratic nominee Joe Biden, said that not releasing the data will only harm economic policy making decisions.

“They’re never going to address the problems if they put these kinds of blinders on,” he said. “Managing the economy means publishing credible forecasts.”

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

China vows to retaliate for Trump’s Rose Garden press conference — and could impose new sanctions on America

Published

on

US President Donald Trump said Tuesday he was ending preferential trade treatment for Hong Kong and had signed into law an act that authorises sanctions on banks over China's clampdown in the international finance hub.

In a discursive news conference dominated by attacks on his domestic rivals, Trump declared himself to be the toughest president ever on China, a country he is increasingly positioning as his nemesis ahead of November elections.

Trump announced that he had issued an executive order on Hong Kong as he predicted decline for the restless city, on which Beijing recently imposed a tough new security law.

Continue Reading

2020 Election

Trump’s former White House doctor Ronny Jackson wins GOP runoff for Congress in Texas

Published

on

Ronny Jackson, the former White House physician and President Donald Trump's onetime nominee for secretary of veterans affairs, has won his bid for the Republican nomination for a solidly red congressional seat in the Texas Panhandle.

With 100% of polling locations reporting, though some mail-in ballots will still need to be counted, Jackson held a lead of 11 percentage points over Josh Winegarner, a veteran agriculture expert and lobbyist. Jackson and Winegarner were competing for a seat being vacated by U.S. Rep. Mac Thornberry, R-Clarendon, who is retiring and held the seat since 1995.

Continue Reading
 

Breaking Banner

Ivanka Trump’s tweet raises eyebrows: ‘Why is a senior White House official endorsing a food product?’

Published

on

As her big brother was dragging their 14-year-old half brother into the 2020 campaign, senior White House advisor Ivanka Trump was endorsing a line of canned food products.

If it’s Goya, it has to be good. Si es Goya, tiene que ser bueno. pic.twitter.com/9tjVrfmo9z

— Ivanka Trump (@IvankaTrump) July 15, 2020

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image