America’s economy has consistently taken a hit ever since the coronavirus pandemic began and Democrats around the country have made it clear that they do not want to see President Donald Trump revive it.
A newly published piece from Politico, titled The general election scenario that Democrats are dreading, provided insight and reports by former top Obama administration economist Jason Furman. In his calculations, Furman concluded, “We are about to see the best economic data we’ve seen in the history of this country.”
Upon making his remarks during a Zoom call, Furman said the former Cabinet secretaries and Federal Reserve chairs looked “puzzled.”
“Everyone looked puzzled and thought I had misspoken,” Furman stated.
According to Politico, “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 added that concern among top party officials is “high, high, high, high.”
An informal adviser to Joe Biden said his campaign is “very much aware” that a roaring economy could soon be on its way before the November presidential election.
In his prediction, Furman said the economic 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.”
“I totally agree,” Larry Kudlow, head of the White House National Economic Council, said in regards to Furman’s analysis. “Q3 may be the single best GDP quarter since regular data. 2nd half super big growth, transitioning to 4 percent or more in 2021.”
“Even today when we are at over 20 million unemployed Trump gets high marks on the economy, so I can’t imagine what it looks like when things go in the other direction,” said another former Obama White House official. “I don’t think this is a challenge for the Biden campaign. This is the challenge for the Biden campaign. If they can’t figure this out they should all just go home.”