“The GDP from April through June dropped a staggering 32.9 percent. Put another way, that’s a loss of fully one-third of our output of goods and services as a country.”
The truth is that the GDP declined by 9.5% in the second quarter but the government reports an annualized rate. Hence if Williams had said the GDP declined by 10%, not 32% he'd have been right.
Why would Williams get it so wrong?
Well one reason is that reporters in American generally aren't all that well informed. Especially people in the #FakeNews media who tend to only read what their fellow believers write.
Another is that Democrats are desperate to make things seem worse than they are and to blame Trump for everything.
The same people who said every minor uptick under Obama was insanely great, who said that double digit Black unemployment was not a problem with Obama was in charge ignored the economic boom that Trump's policies created.
Even worse now they're simultaneously condemning Trump for not shutting the country down more and for the economic impacts of shutting the country down as much as it is shut down.
It's an amazing assault on reason for Democrats to condemn Trump because he won't make everyone hide in their houses indefinitely while also condemning him because the economy is being adversely impacted by so many of us being imprisoned in our houses.
The reality is if Democrats had their way the GDP would be down by much more.
Further it's dishonest to complain about the economic impacts of shelter in place while refusing to accept economic costs as part of the calculus used to decide to what extent we should shelter in place.
It's not like the necessities of life just drop out of the sky like manna. If people don't work then people will become poor.
People who are poor and/or stressed about their lack of work are more likely to do drugs and/or take their own lives.
Yet Democrats declare that those costs, those lives lost, can't be taken into account when deciding how to address the China virus.
The reality is that for people under 40 COVID19 is no worse than the flu. The reality is tens of thousands of people die from the flu every year just as tens of thousands of people die in car accidents. Life has risks and we don't shut down life because of them.
The science is clear. We need to protect those over 70--which means we don't send people sick with COVID19 into nursing homes like Cuomo did in New York-- and to a lesser extent those over 40 or 50 but there is no reason to keep people under 40 under house arrest.
Democrats want to do that because they think they can blame Trump.
Democrat politicians, the #FakeNews media, and leftists don't care how many of us die due to unnecessary shelter in place rules or how much of our savings we have to eat through to survive. They only care about power. So long as they think that making us miserable will cause us to vote for Joe Biden they believe that our suffering is a price they're willing to pay for getting more power.
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