WASHINGTON (Nexstar) — The Trump Administration said the US economy has rebounded, pointing to record 3rd-quarter GDP growth numbers. Weekly jobless claims also hit a 7-month low.
“A monster 3rd-quarter GDP number, 33.1% growth over the last three months, which is record breaking and historic,” said Treasury Department spokesperson Monica Crowley. “President Trump predicted this many months ago, as we started to reopen the economy, he pointed to the tremendous pent-up demand after the wholesale national shutdown of the economy.”
But Speaker of the House Nancy Pelosi isn’t impressed.
“We had lost ground in the second quarter,” she said. “This barely makes up for that.”
In September more than 12.5 million Americans were unemployed and now even some of those who are back at work are on the brink of homelessness because they fell behind on rent — and local eviction moratoriums are expiring.
In a tweet, Democratic nominee Joe Biden said visits to food banks haven’t slowed and poverty has grown. Pelosi noted, “Eight million more people have fallen into poverty.”
Last Friday the US set a new daily coronavirus case record. Cities and states around the country say their hospitals are quickly running out of space.
Democrats say that because there is no national strategy to stop the spread of COVID-19 the economy could tank — again.