An article in Politico quotes former Obama economist , Jason Furman, as saying that the biggest fear that Democrats have is that President Trump will reignite the economy and wipe out the very slim chance that Dementia Joe has of winning the presidency. He has already brought the economy out of the Obama/Biden doldrums and super charged it and they are panicking that he will do it again. Furman says the new recovery could very well shatter all of the previous records.
“We are about to see the best economic data we’ve seen in the history of this country.”
This could very well be why Democratic governors are refusing to open their states. They are willing to let their constituents go bankrupt if it means gaining an advantage in the 2020 elections. They do not care anything about voters except the best way to fool them into voting for Democrats.
Furman’s counterintuitive pitch has caused some Democrats, especially Obama alumni, around Washington to panic. “This is my big worry,” said a former Obama White House official who is still close to the former president. Asked about the level of concern among top party officials, he said, “It’s high — high, high, high, high.”
And top policy officials on the Biden campaign are preparing for a fall economic debate that might look very different than the one predicted at the start of the pandemic in March. “They are very much aware of this,” said an informal adviser.
What Furman already sees are signs of what’s known as a “V” recovery, as a opposed to a slower or gradual recovery, or a recovery that takes a while to get back to where we were before these stupid lockdowns began. Furman sees an economy that’s already unleashed.
Consumption and hiring started to tick up “in gross terms, not in net terms,” Furman said, describing the phenomenon as a “partial rebound.” The bounce back “can be very very fast, because people go back to their original job, they get called back from furlough, you put the lights back on in your business. Given how many people were furloughed and how many businesses were closed you can get a big jump out of that. It will look like a V.”
Furman’s argument is not that different from the one made by White House economic advisers and Trump, who have predicted an explosive third quarter, and senior adviser Jared Kushner, who said in late April that “the hope is that by July the country’s really rocking again.”
White House officials were thrilled to hear that some of their views have been endorsed by prominent Democrats.