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White House: Unemployment Numbers ‘Disappointing’

Jul 31, 2020
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The White House has responded(pdf) to this morning’s bad news from The Bureau of Labor Statistics, which issued its March reporttoday, revealing that 434,000 people lost jobs last month, increasing the nation’s unemployment to 7.8 million, or 5.1 percent. The Bush administration’s reaction: “While these numbers are disappointing, they are not entirely unexpected.”
If that wasn’t enough to set your soul at ease, the release also lays out the administration’s plans to reverse the trend. Item number one? Right — that $600 check ($1,200 or more for families) Americans will start receiving next month. It’s a cynical strategy, not least because it begs for taxpayers, already saddled in debt, to rush out and spend the cash for the sake of the economy rather than save it for the sake of the family. But it reminds of that moment following 9/11 when Americans lined up with offers to volunteer their time, donate blood, bake brownies — whatever was needed to help the country in a time of severe crisis — and the White House told usinstead to go shopping. (Even GOP presidential hopeful John McCain has been critical recentlyof the administration’s post 9/11 advice.)
Not that the White House is the only brainchild behind the cash rebate strategy. After all, it took a bipartisan effort in Congress to get is passed. But perhaps this saga is “not entirely unexpected” at a moment in history when an act of bipartisan compromise is at least as much an accomplishment as the policy itself.
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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