No need to remind people , eh?
But expect President Trump to get up and say things ARE getting better?
Don’t worry Donald….
Plenty of the experts aren’t gonna duck on the economy you aren’t doing a damn thin about…
And we American’s will see things EVERY DAY….
The White House won’t make its usual economic forecast when a review of federal spending is released this summer, two senior administration officials confirmed to POLITICO on Thursday.
Those economic projections — which administrations have typically published each summer since the 1970s — would surely reflect the steep downturn caused by the coronavirus pandemic, including cratering growth and unemployment levels unseen since the Great Depression. The grim outlook on the economy, which is not required by law, would come just a few months before voters decide whether to reelect President Donald Trump.
Administration officials said the data is too volatile to produce reliable projections and that federal agencies responsible for the numbers are overwhelmed with the implementation of federal legislation passed in response to the pandemic, including the $2 trillion CARES Act cleared by Congress in March.
The data is “extremely fluid and would produce a less instructive forecast,” one senior official told POLITICO.
“It is foolish to demand such a forecast simply because that is business as usual, particularly when that forecast may mislead the public,” the official said.
Another senior administration official said the White House is still on track to release updated economic projections in October, just weeks before Election Day.
The decision to skip the economic projections, which was first reported by The Washington Post, breaks precedent but not federal law, because there is no requirement that the projections be included in what’s called a “mid-session review” published in the summer, following the release of the federal budget request earlier in the year.
The review typically provides an update on the request, economic forecasts, federal spending and more. The numbers are produced by the so-called “troika,” or the leaders of the Treasury Department, the Office of Management and Budget and the White House Council of Economic Advisers.
The economic volatility produced by the pandemic hasn’t stopped other agencies, like the Congressional Budget Office, from releasing updated forecasts….