There have been a number of Democrats, and Bill Maher comes to mind, who have been cheering for a recession because they think it would ruin President Trump's chances of reelection.
The economy did drop because of the coronavirus, not President Trump, but things are already picking up really well. So well in fact that Democrats are worried about what is about to happen.
“We are about to see the best economic data we’ve seen in the history of this country,” said former Obama administration economist Jason Furman.
The former cabinet secretaries and Federal Reserve chairs in the Zoom boxes were confused, though some of the Republicans may have been newly relieved and some of the Democrats suddenly concerned.
“Everyone looked puzzled and thought I had misspoken,” Furman said in an interview. Instead of forecasting a prolonged depression-level economic catastrophe, Furman laid out a detailed case for why the months preceding the November election could offer Trump the chance to brag — truthfully — about the most explosive monthly employment numbers and GDP growth ever.
Democrats are in an absolute panic,
“This is my big worry,” said a former Obama White House official who is still close to the former president. Asked about the level of concern among top party officials, he said, “It’s high — high, high, high, high.”
Consumption and hiring started to tick up “in gross terms, not in net terms,” Furman said, describing the phenomenon as a “partial rebound.” The 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.”