Hey Washington: The Economy Isn’t Crashing

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Unleash Prosperity Hotline 
Issue #191
12/31/2020
1) Hey Washington: The Economy Isn’t Crashing

We think we are living in a parallel universe in Washington. Really. We’ve rarely seen such a disingenuous propaganda campaign by the media and the political class. Here are the latest official numbers on the economy.

A)      Labor Department, Dec. 31: “The week ending December 26, seasonally adjusted initial unemployment claims was 787,000, a decrease of 19,000 from the previous week’s revised level.”  Did you hear that? A DECREASE in claims, despite the best efforts by Democratic governors to close down everything that moves or makes a profit. This was WAY below expectations.

B)      More from DOL: “The advance number for seasonally adjusted insured unemployment [the total number of people getting UI benefits] during the week ending December 19 was 5,219,000, a decrease of 103,000 from the previous week’s revised level.” A DECREASE.

C)      Federal Reserve Bank of Atlanta: The latest forecast Dec. 23 for the 4th quarter of 2020 is 10.1%. That is one of the highest quarterly growth rates IN AMERICAN HISTORY!

D)      Department of Commerce: The 3rd quarter estimate for economic growth was revised UPWARD to 33.3% which was, of course, the highest rate of growth in American history – double the old record set in the early 1950s. 

E)       Bureau of Labor Statistics: The number of open jobs in the United States stands at 6.5 million.   That is very close to an all-time HIGH.

The word to describe the American economy and American business owners is RESILIENT.   

All of this has happened in the face of a second wave of the pandemic. All of this has happened without a penny more of this insane anti-stimulus spending Washington is shoving down our throats. 

Are there people hurting and whose jobs have been destroyed? yes. Are there people in long food lines? Yes. But this is because Democratic governors – Cuomo, Pritzker, Newsom – are sticking a knife in the back of their own businesses and workers. 

Washington: stop spending money. Stop helping. You are making things worse. 

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