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CBO: 9.5% Unemployment by the End of 2021

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The Congressional Budget Office weighed in on this corona virus economy today and without putting too terribly fine a point on it. It ain't great news. The deficit is going to explode. We kind of knew that but unemployment. This quarter is going to average fourteen percent and the economy is going to shrink twelve percent April through June. So that is where we are going to start Catherine Rim pels at the Washington Post. He Brady is at politico. Hey you can let me start with you and something else that was in this. Cbo report This line that said We anticipate unemployment in this economy will come down to nine and a half percent by the end of twenty twenty one which is by my calendar like eighteen plus months from now that is astounding it is astounding and those kinds of estimates implying that the duration of this jewel public health crisis economic crisis could last a lot longer than people are anticipating right now suggests to me anyway. That politicians in the media need to be doing a much better job at preparing the public for the fact that that this could last a while and in my view better managed. Expectations could lead to potentially more proactive policies but also potentially better outcomes. You know maybe if we realize we're in this for the long haul we won't be agitating to prematurely engage in economic activities that could actually extended duration of the crisis

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