Lockdowns Damaged the GDP

Lockdowns Damaged the GDP

(NewsReady.com) – When states began locking down, President Donald Trump said over and over we could not allow the cure to be worse “than the problem itself.” The commander-in-chief was concerned the COVID-19 quarantines were going to damage the economy, leading to even more suffering. Although we seemed to have missed the worst of it, new data shows it definitely hurt.

On July 30, the Commerce Department reported the US gross domestic product (GDP) shrunk at an adjusted annual rate of 32.9% during the second quarter of the year.

For those who aren’t familiar, when the GDP, the total value of all the goods produced in the country, shrinks, it can cause higher unemployment rates and slow down investments. The decline is related to the states putting the brakes on the economy during the initial months of the coronavirus outbreak. Those measures put millions of Americans out of work and caused businesses to close.

Fox News’ Laura Ingraham pointed out the Democrats who are screaming about the financial news are the same ones who supported the measures, to begin with.

President Trump tried to warn the country this would happen. The knee-jerk reaction ultimately only prolonged the spread of the virus and hurt the economy in the process. Lawmakers should have listened to him from the start. Now, he’s left to clean up after everyone.

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