Political Quotes

“back in February 2020, before the COVID recession, there were 158.8 million Americans employed. We have gone through a lot. COVID is probably the most significant event--certainly in my lifetime--affecting people's lives, the tragedies we have seen, affecting our economy, affecting the Federal budget. At the end of June, there were 142 million Americans employed. That is a reduction of 16.6 million Americans or 10.5 percent. I want people to remember that 10.5 percent. Over the last month or so, there have been a number of respected economists who made forecasts of how much our economy is going to shrink. These are folks from the IMF and CBO and the Federal Reserve Board of Governors, economists at Morgan Stanley and Goldman Sachs. The range of what they are predicting our economy will shrink to is somewhere between 4.6 percent and 8 percent. This is causing economic devastation--a real human toll on real people. As a result of that, Congress acted. We acted fast. We acted swiftly. We acted massively. We wanted to provide financial help to individuals who were unemployed all of a sudden through no fault of their own. We wanted to help provide financial need to businesses that were viable, that can hopefully survive and rehire and help us recover from this COVID recession. We also wanted to make sure we provided enough liquidity in the market so we wouldn't see any kind of seizing up and see real financial devastation.…”