A terrifying forecast from the Congressional Budget Office.

[DCforever]

Originally Posted by xboxmas

You can thank the liberal governors who insist on keeping things closed.

Brazil is obviously your model for how to handle COVID. It appears that you can't even quarantine stupid.

[hawkeye2009]

Originally Posted by Finn_Jarber

I hope they are wrong.......

https://www.vox.com/2020/6/8/2128163...ecast-recovery

In fact, the CBO is projecting that inflation-adjusted gross domestic product won’t return to its pre-pandemic trend level until 2030. So it’s looking like a situation where unemployment remains elevated for nearly a decade, and the country as a whole ends up trillions of dollars poorer.

But that’s not an inevitability; it’s a choice. As the CBO states, “If future federal policies differ from those underlying CBO’s economic projections—for example, if lawmakers enact additional pandemic-related legislation—then economic outcomes will necessarily differ from those presented here.”

Its a prediction, which often turn out to be wrong.

[Finn_Jarber]

Originally Posted by hawkeye2009

Its a prediction, which often turn out to be wrong.

A 'V' curve recover to 80% is 'terrifying' only in the sense that we will not recover to 100% until after few years.

When do you think we will hit 100%?

80% means the 401K savers are 100% recovered (lot of new money pumped in), so good for them. 80% of the 44 million jobs lost = 35.2 million jobs re-gained.

It depends on how you look at it. 80% recovery is not good news to those who look at the GDP growth stats, but its good for most people.

Originally Posted by eddie gein

Well CBO...Welcome to the "Deep State"

What is your prediction, and what is it based on?

[WRM20]

Originally Posted by PilgrimsProgress

I wonder how much money these career politicians skimmed?


Chuck Schumer, 40 years (1981)
Nancy Pelosi, 33 years (1987)
Maxine Waters, 30 years (1990)
Joe Biden, 48 years (1972)
Bernie Sanders, 35 years
Dianne Feinstein, 28 years (1992)

No more than Republicans who have been around for similar time frames.

[beach43ofus]

[quote=Finn_Jarber;58393716]It's

"Sure, blame the virus on freaking politicians. What should we do with the mayor of Miami? Fire him because people got sick in his city???"


8 out of 10 of the deadliest states for C-19 were Dem states. That is no coincience. Its called lack of leadership, and yes, I blame politicians like Cuomo for putting C-19 infected people into Nursing homes, and not buying the respirators his State Scientists told him to buy 2 years prior to C-19.

To hold these bad leaders accountable, dont vote for them ever again, and give the other party a chance to see if they can do better.

If you think the Congressional Budget office has a terrifying forecast, look at the pension funds for some of the largest Dem controlled cities...

Even though the Budget Office is sounding the sirens, here comes another Trillion dollar Coronavirus giveaway with penny's going to the citizenry, and 85% going to the top 1% just like the last $3.5T.

I've done that math here several times to prove this.