It took President Donald Trump three years to build the world's best economy with an unemployment rate of only 3.5%, rising wages, strong consumer confidence and a robust stock market. Sadly, it only took three weeks for that healthy economy to be destroyed and the longer the economy is closed for business, the harder it will be for our nation to recover.
The economic statistics are truly staggering. The Congressional Budget Office (CBO) projects that the economy will shrink by 40% this quarter and that the unemployment rate will rise to 16% this year, before declining in the fourth quarter of this year and next year. For comparison, the nation's all-time high unemployment rate reached 24.9% at the height of the Great Depression in 1933.