Economy Shrinks 5% After White House Said Coronavirus Would Have No Impact

25 Jun

“Trump downplayed the threat of coronavirus and got caught flat footed as the economy bottomed out,” said DNC War Room Director Adrienne Watson. “The White House told us we’d see ‘no material impact’ on the U.S. economy, and yet economic growth last quarter declined by five percent, with the worst still yet to come. Americans can’t afford this.”

In February and March, the White House said coronavirus would have a negligible impact on the U.S. economy.

KUDLOW: “This is principally a public-health problem and the pandemic of course is in China, not the U.S. … Insofar as the economy, we see no material impact.”

KUDLOW: “Well look, the Coronavirus is essentially a China problem, and we’re doing everything we can to help them by the way — offering advice, sending smart people over there, and so forth. It’s not a U.S. problem. The impact on the American economy will be very, very, very small if any.”

KUDLOW: “The fundamentals of the economy are strong. In fact, you know, we’ve had so many business groups in, they’ll tell you, you know, through February, January, February, the economy was rising and the Atlanta Fed GDP now is showing three percent of 3.1 percent.” [White House Media Availability, Washington DC, 3/16/20]

CEA CHAIR PHILIPSON: “I don’t think the coronavirus is as big a threat as people make it out to be.”

Larry Kudlow predicted that coronavirus would only cost the economy 0.2% GDP growth in Q1 of this year.

KUDLOW: “But, preliminary look, NEC, CEA we took a look at it. Maybe two-tenths of one percent in the first quarter.” [Mornings With Maria, Fox Business, 2/4/20]

KUDLOW: “We’re thinking maybe in the first quarter, we lose two or three tenths of GDP—two or three tenths of one percent of GDP.”

KUDLOW: “We really haven’t seen any economic impact. There may be some out there. Our own internal numbers say maybe two-tenths of a percent in the first quarter, but that’s not going to end this growth cycle.”

The Trump administration actually said that coronavirus could spur U.S. business investment and job growth.

KUDLOW: “Kudlow played down the potential wider impact of the virus outbreak on the U.S. economy and on company supply chains that are being curtailed, saying: ‘It’s not a catastrophe. It’s not a disaster.’… Kudlow said he thought the virus outbreak could spur business investment and lead to increases in production in the United States.”

ROSS: “‘So I think it will help to accelerate the return of jobs to North America,’ Mr. Ross said of the coronavirus. ‘Some to U.S., probably some to Mexico as well.’”

After failing to prepare for and mitigate the damage coronavirus did to our economy, the White House is again being overly optimistic about our economic recovery and dragging their feet on much needed relief.

Politico: “President Donald Trump has been quick to declare victory against the coronavirus recession, comparing U.S. economic growth to a ‘rocket ship’ and predicting ‘GREATNESS, and soon!’ Economists are telling a different story…That view stands in stark contrast to projections by the Federal Reserve, the Congressional Budget Office and many economists who say that though the economy is on its way back, a full recovery may take years.”

Washington Post: “White House officials have said they will pass another stimulus package, but appear in no rush to do so. Administration officials say the next bill is not likely to pass until late July. Larry Kudlow, director of the White House National Economic Council, has celebrated the stock market and predicted a ‘strong’ V-shaped recovery because of the relaxation of public health restrictions, dismissing calls to extend emergency unemployment benefits that will expire next month.”

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Trump’s Coronavirus Approval Hits Record Low As New Cases Hit Record High

25 Jun

Approval of Trump’s coronavirus response has hit a record low as new coronavirus cases hit a single-day record high. After saying he wants to do less testing and recklessly holding a rally in the middle of a pandemic, it’s clear why.

New coronavirus cases hit a single-day record high yesterday.

Washington Post: “Across the United States, 38,115 new infections were reported by state health departments on Wednesday — surpassing the previous single-day record of 34,203 set on April 25. Texas, Florida and California led the way, with all three states reporting more than 5,000 new cases apiece.”

Approval of Trump’s coronavirus response fell to the lowest level on record.

Reuters: “American approval of President Donald Trump’s handling of the coronavirus pandemic has dropped to the lowest level on record, the latest Reuters/Ipsos opinion poll shows, as new COVID-19 cases surged and Trump was widely criticized for suggesting he wanted to slow down testing.”

ABC News: “Approval of Trump’s coronavirus response underwater, as he returns to campaign trail: POLL”

After saying he ordered a slowdown in testing, Trump is ending federal funding for numerous testing sites by the end of this month.

CNBC: “The Trump administration will end federal funding for 13 community-based coronavirus testing sites by the end of June as part of a previously announced plan to extend financial support for Covid-19 testing across the nation by other means.”

After Trump ignored health experts to hold an indoor campaign rally, at least eight members of his advance team contracted Covid-19 and dozens of Secret Service agents have been forced to quarantine.

CNBC: “Two members of a campaign advance team who attended President Donald Trump’s rally in Oklahoma on Saturday have tested positive for the coronavirus, the campaign said Monday. The new test results bring the tally of advance team members for the Tulsa event who have tested positive for Covid-19 up to eight.”

Washington Post: “Dozens of Secret Service officers and agents who were on site for President Trump’s rally in Tulsa last week were ordered to self-quarantine after two of their colleagues tested positive for the novel coronavirus, part of the fallout from Trump’s insistence on holding the mass gathering over the objections of public health officials.”

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DNC RELEASES NEW AD ON TRUMP’S TRADE RECORD IN MI: “PLAYED”

25 Jun

Today the Democratic National Committee is releasing a Michigan-specific version of its new advertisement highlighting Donald Trump’s failed record on trade. The ad, entitled “Played,” highlights the devastating impact of Trump’s reckless trade policies on Michigan workers and farmers.

“Trump said he’d get tough on China, but he didn’t. Trump clamored for a trade war with China and said that it would be easy to win, but he lost. And Trump’s go-it-alone tariffs inflicted pain on Michigan workers, not China. Instead of forcing China to the table to negotiate a trade deal that protected us, China smelled Trump’s desperation and played him like a cheap guitar,” said DNC Chair Tom Perez. “Working families in Michigan — and across the country — can’t afford four more years of Trump losing to China.”

The spot is part of the DNC’s new push highlighting Trump’s record on trade and China nationally and in key battleground states — including a virtual event this week in Michigan with Mayor Pete Buttigeg, DNC Chair Tom Perez and MDP Chair Lavora Barnes. The DNC also held events this week in Pennsylvania with Senator Elizabeth Warren and with Wisconsin farmers.

Earlier this month, the DNC also released polling from six battleground states, including Michigan, detailing how voters in these states disagree with Trump’s handling of China during his administration .

The ad will reach voters in Michigan and generate hundreds of thousands of impressions as part of the DNC’s six-figure campaign over the course of five weeks to hold Trump accountable.

WATCH IT HERE

TRANSCRIPT:

Announcer: Trump said he’d get tough on China. He didn’t get tough — he got played.

Announcer: Trump lost a trade war that he started.

Announcer: Farmers, bankrupted. Steel workers, betrayed. And manufacturing, in a recession.

Announcer: Donald Trump lost.

Announcer: And Michigan can’t afford for more years of losing.

Joe Biden: I’m Joe Biden and I approve this message.

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MEMO: Trump Moves Forward With Health Care Repeal Case That Would Take Health Care Away From Millions During A Pandemic

25 Jun

MEMORANDUM

TO: Interested Parties

FROM: DNC War Room

DATE: Thursday, June 25, 2o20

RE: Trump Moves Forward With Health Care Repeal Case That Would Take Health Care Away From Millions During A Pandemic

Today, Trump’s Department of Justice and Republican attorneys general will submit briefs in California v. Texas to invalidate the Affordable Care Act. During the worst health crisis of our time, Trump and Republicans are fighting to strip protections from as many as 133 million Americans with preexisting conditions and take health care away from 20 million Americans.

Americans are relying on our health care system now more than ever before, and the ACA is one of our most critical tools to protect Americans from the consequences of the coronavirus. Now, as more than 20 million Americans are unemployed, Trump and Republicans are moving full steam ahead with their lawsuit.

The ACA is more popular than ever for one simple reason: it works. The ACA has significantly reduced the ranks of the uninsured; it’s helped Americans get the health care they need and helped keep them from being bankrupted just because they get sick. But even as Trump quietly relies on key provisions in the ACA to fight the spread of the virus, he and Republicans will stop at nothing to take the entire law away.  

In the midst of a global pandemic, the ACA is one of our most critical tools.

  • Comprehensive Coverage: The ACA established what are known as “essential health benefits,” mandating coverage of services like prescription drugs and hospitalization. Coronavirus testing and treatment are essential health benefits and must be covered by all ACA-compliant plans. 
  • Access To Critical Vaccinations Without Cost Sharing: Once a coronavirus vaccine is developed, the Affordable Care Act will almost certainly cover the coronavirus vaccine without cost-sharing, because it requires plans to cover all vaccinations recommended by the CDC’s Advisory Committee on Immunization Practices (ACIP). 
  • Protections For As Many As 133 Million Americans With Preexisting Conditions: Under the ACA, insurance companies are not allowed to discriminate against those with preexisting conditions by denying them coverage or charging higher rates.
  • Coverage for 20+ Million People: Because of the ACA, more than 20 million Americans gained health coverage. People with insurance are much more likely to see a doctor when they are sick and to get the treatment they need. 
  • Increased CDC Funding: The Affordable Care Act established the CDC Prevention and Public Health Fund, which helps states prepare for disease outbreaks. 
  • Medicaid Expansion: Because of the ACA, states can get additional federal money to expand Medicaid to vulnerable populations. More than 17 million Americans now have coverage through Medicaid expansion. Importantly, Medicaid’s funding structure allows funds to increase in response to a public health emergency like coronavirus.
  • Key Support For Rural Hospitals: The ACA significantly reduced uncompensated care costs. Between 2013 and 2015, hospitals’ uncompensated care costs decreased by $12 billion, or roughly 30 percent. As hospitals face an influx in coronavirus patients, it is critical that they are paid for the treatment they provide.

Even as he tries to destroy the law, Trump has been forced to rely on key provisions of the ACA to fight the spread of coronavirus.

  • Essential Health Benefits: The Trump administration urged health insurers to make testing free by considering it an “essential health benefit,” despite simultaneously arguing in court to overturn this protection of the ACA.
  • Medicaid Expansion: Trump championed cuts that would kick millions of people from its rolls, the Trump administration is now playing catch-up and has approved state waivers making it easier for poor Americans to get care through Medicaid. But the administration’s coronavirus response is weakening Medicaid by skimping on aid for Medicaid providers to the benefit of large medical systems.
  • Nursing Home Inspections: The Trump administration announced new initiatives to protect nursing homes but has continued pushing forward with rolling back regulations aimed at preventing infections from spreading in nursing homes.

Trump will keep lying to Americans about protecting their health care — but he has already broken his biggest health care promises.

  • Fewer Americans Covered: Trump promised that whoever “wanted health care” would have it under his administration, but the Trump-backed lawsuit could cause more than 20 million Americans to lose their insurance.
  • Rising Health Care Costs: Trump promised he would put a stop to rising health care costs and even reduce them — but his lawsuit would raise out-of-pocket costs for premiums and prescription drugs.
  • No Preexisting Condition Protections: Trump promised to support preexisting condition protections and said that costs for people with preexisting conditions would be “much lower” under his leadership — but his lawsuit would end these vital protections.
  • Gutting Medicaid Access: Trump promised to protect Medicaid — but his lawsuit would end access to Medicaid for millions of Americans enrolled through the ACA’s expansion program.

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DNC on GOP Filing SCOTUS Briefs to Take Health Care Away From Millions

25 Jun

DNC Chair Tom Perez released the following statement as Donald Trump and Republican-led states filed briefs at the U.S. Supreme Court to strike down the Affordable Care Act and end health care protections for as many as 133 million Americans:

“Donald Trump and Republican leaders are at it again. Today, they filed briefs at the Supreme Court to strike down the Affordable Care Act and take health care away from 20 million Americans, as well as protections from as many as 133 million people with preexisting conditions. We’ve seen this movie before, and the sequel is even worse. Americans are dying every day, but instead of helping our communities, Trump wants to take away their care during a global pandemic. The cruelty of this administration knows no bounds.

“The ACA is more popular than ever for one simple reason: it works. The ACA has significantly reduced the ranks of the uninsured; it’s helped Americans can get the health care they need and helped keep them from being bankrupted just because they get sick. That’s why the Obama-Biden administration signed it into law a decade ago. Democrats have beaten back the GOP’s attempts to destroy the ACA before, and we’re going to do it again by electing Joe Biden the next president of the United States.”

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In Pennsylvania, Senator Elizabeth Warren Joins DNC Chair Tom Perez, PA Democrats to Slam Trump for Broken Economic Promises

24 Jun

PITTSBURGH — Today, Senator Elizabeth Warren joined DNC Chair Tom Perez and Pennsylvania Democratic Party Chair Nancy Patton Mills for a virtual press conference focused on Trump’s failed trade policy with China and his broken promises to Pennsylvania voters on the economy.

The event was part of the DNC’s new push — including a new television spot in the Pittsburgh market — highlighting Donald Trump’s broken promises on trade, and how his failure to stand up to China has cost jobs and hurt working families in the Keystone State.

Pennsylvania’s unemployment rate reached 16.1% — the highest level in more than 40 years — during the month of April as Trump’s failed coronavirus response has ravaged Pennsylvania’s economy. Pennsylvania’s economy was especially vulnerable to the current crisis due to Trump’s erratic trade policy and failure to stand up to China. Trump ran for president promising that he’d bring back manufacturing jobs, and yet three Pennsylvania manufacturing hubs—Pittsburgh, Scranton, and Harrisburg—are in the top hardest hit by Trump’s erratic trade policies.

DNC Chair Tom Perez: “This reckless trade war with China has cost hundreds of thousands of jobs and decimated family farms. He said he’d get tough on China, but he didn’t. Trump clamored for a trade war with China and said that it would be easy to win, but he lost that trade war. His  go-at-it-alone strategy on tariffs inflicted terrible pain on Pennsylvania workers, not China. Instead of forcing China to the table to negotiate a trade deal that protected us, China smelled Trump’s desperation and played him like a fiddle. […] Not only did Donald Trump’s ‘phase one’ trade deal fail to boost purchases of U.S. exports, phase one failed to even stop the bleeding by getting exports back to where they were before his damaging trade war. And China won’t come close to purchasing the $50 billion a year in U.S. agriculture that Trump promised. American workers, farmers, and consumers have been decimated.”

Senator Elizabeth Warren: “This is a moment of crisis for our nation and for the entire world. The president’s lack of response to the pandemic has wrecked our economy and it’s led millions of worker families to be without work. Nowhere has this been clearer than in Pennsylvania. […] This economic downturn is just the tip of the iceberg for working families in Pennsylvania.”

PA Democrats Chair Nancy Patton Mills: “We now know that it didn’t have to be this bad. Had Donald Trump taken the coronavirus seriously, had he not failed for China’s propaganda, or had he put the needs of the American people ahead of his own political pursuits, thousands more Pennsylvanians would still be alive and millions would still have their jobs. […] And while we’re now witnessing a once-in-a-generation crisis, we can’t forget that families across the Commonwealth have been feeling the pain of Donald Trump’s policies since his first day in office. Much of the pain is a direct result of Trump’s failed trade war with China — an erratic, reckless policy that continues to plague Pennsylvanian businesses as we speak.

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Trump Claims To Be Tough On China — Then Why Do They Want Him To Win?

24 Jun

Don’t believe Trump’s tough talk. Trump got played by China and has repeatedly done more to help them than hurt them. It’s no wonder China wants Trump to win reelection.

People with ties to the Chinese state poured hundreds of thousands into Trump’s reelection campaign to try to influence him. 

Wall Street Journal: “Soon after Donald Trump took office, people with ties to the Chinese state poured hundreds of thousands of dollars into his re-election bid to get close to and potentially influence the new president.”

Trump got played by China and failed American farmers who became collateral damage in his reckless trade war.

New York Times: “Within two years of President Trump’s taking office, one of his key political constituencies — America’s farmers — were reeling from his trade war with China. Mr. Trump had waged his fight to try to eliminate the trade deficit with China and bring manufacturing back to the United States. But American farmers — among the country’s largest exporters, and a key part of the president’s political base — soon became collateral damage in that effort.”

Trump got in the way of his own administration officials, preventing them from crafting tough on China policies.

New York Times: “As national security officials and some trade advisers in the Trump administration tried crafting get-tough-on-China policies to address what they viewed as America’s greatest foreign policy challenge, they ran into opposition from an unexpected quarter. President Trump himself was undermining their work.”

Trump has allowed China to expand its global influence and aided its efforts to dominate global industry.

Washington Post’s Monkey Cage: “Trump’s decision to pull U.S. out of WHO will boost China’s influence”

Bloomberg: “Interviews with nine current and former Chinese officials point to a shift in sentiment in favor of the sitting president, even though he has spent much of the past four years blaming Beijing for everything from U.S. trade imbalances to Covid-19. The chief reason? A belief that the benefit of the erosion of America’s postwar alliance network would outweigh any damage to China from continued trade disputes and geopolitical instability.”

Wall Street Journal Editorial Board: “Keeping out high-skilled foreign workers will hamstring U.S. innovation, aiding China’s effort to dominate artificial intelligence, semiconductors and biotech. The winners will be China’s national champions including Huawei, Baidu and Tencent.”

It’s no wonder China is rooting for Trump to win reelection. Trump has repeatedly done more to help China than he has to harm them.

Bloomberg Opinion: “Why would the government of China — a country that President Donald Trump has hit with tariffs and sanctions, blamed for the coronavirus pandemic, and labeled as the greatest threat to American security — reportedly be rooting for Trump’s re-election in 2020? Perhaps because Chinese officials realize what former National Security Adviser John Bolton’s recent tell-all book underscores: The damage Trump is doing to U.S. power and the global democratic community outweighs any harm he is doing to Beijing. Another four years of Trump will magnify that damage, so the 2020 election is taking on historic importance in determining the shape of the modern world.”

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