CNN and Bloomberg News report that the Trump Administration is so desperate to avoid a recession by giving US citizens $1000 each that the Treasury secretary told Senate Republicans that unemployment in the US could reach 20%, the worst since the 1930’s.
Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN.
Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario.
The purpose is, of course, essentially buying the votes Trump needs for re-election.
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