Posted on 03/17/2020 7:03:48 PM PDT by Red in Blue PA
WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin warned Republican senators on Tuesday that failure to act on a proposed coronavirus rescue package could lead to U.S. unemployment as high as 20% and lasting economic damage, a person familiar with the closed-door meeting said. Mnuchin met with senators to persuade them to pass a $1 trillion stimulus package that would send cash to Americans within two weeks and backstop airlines and other companies.
(Excerpt) Read more at reuters.com ...
I can see extremely high unemployment but 20 percent up from 3.5?
Another stock market melt down tomorrow.
At this rate we are looking at a $5+ trillion bill for shutting down the country during the Wu Flu Panic of 2020.
Seems like a stretch
Maybe you should stop killing the economy with this mass hysteria over a cold that sometimes gives elderly people pneumonia.
"a person familiar with the closed-door meeting said"
Mitt have his cell phone on him? Bain Capital could get some real deals...
A friend’s daughter lost all 3 of her jobs in one day.
One business likely won’t survive the shutdown
Yeah, 20 is in the cards when you kill the airlines, travel and tourism, close Vegas, close the restaurant and bar industry, close theaters, close gyms, and let our dickhead Saudi allies drop oil to 27 dollars a barrel to attack our fracking drilling.
20% is quite imaginable.
I am so sure Reuters was allowed at a closed-door meeting right you bet
Wonder if Mitt happened to run into some pals at a Chinese restaurant who gave him a tip a few weeks ago about getting out of the stock market before a certain virus hit the fan? Maybe the armored cars of gold bars for Mitt were a clue he was cashing out of the market.
They’re doing everything they can to get to 20% unemployment. This coronavirus scare isn’t what it seems. It’s something else.
This should be a 3-6 month problem then slowly back to normal. I don’t think this administration is helping with this kind of rhetoric. I know they are trying to manage expectations since some may think this is just a 2-3 week problem when it’s not. But the Treasure Secretary is throwing gasoline on the fire.
Macy’s just closed a store where #1 son was assistant manager. 20% unemployment is a real possiblity during this epidemic, and might last for six months.
Service industry is whacked.
I haven’t actually “lost” mine, but they are not open at the moment, so it’s about the same thing.
15% is a safe bet.
20% is imaginable.
Why does this remind me of 2008?
shutup
Call it something that went to far.
Discovering and letting out how Congress launders money is just the start.
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