Skip to content
Search AI Powered

Latest Stories

The White House's Own Top Economist Just Issued a Dire Warning for the Economy If the Government Shutdown Doesn't Come to an End

The White House's Own Top Economist Just Issued a Dire Warning for the Economy If the Government Shutdown Doesn't Come to an End
Credit: CNN

Welp.

As President Donald Trump's government shutdown drags through its 33rd day, one of his top economic advisors is warning of economic stagnation should an end to the stalemate over Trump's border wall not be reached soon.

White House Council of Economic Advisers Chairman Kevin Hassett sounded the alarm on CNN Wednesday morning.


"By your calculations," Poppy Harlow asked Hassett, "couldn't we then see zero growth if this persists through the end of the quarter?"

Hassett, hesitant to directly answer, was pressed again. Harlow again asked if we "could we see zero growth" if the shutdown continues into the spring.

"Yes, we could," Hassett replied. "If it extended for the whole quarter and given the fact that the first quarter tends to be low because of residual seasonality then you could end up with a number very close to zero in the second quarter."

Watch below:

"White House officials say the partial government shutdown is stripping away roughly 0.1 percent of economic growth per week," The Washington Post noted on Wednesday. "Growth for the first quarter was already projected to be low, at below 2 percent, which is how Hassett said he came to his conclusion."

The federal budget deficit is also predicted to approach $1 trillion this year.

So much for Trump's "magic wand."

Roughly 800,000 federal employees, including members of the armed services, are either furloughed or being forced to work for free. Why, then, is Hassett so chipper?

It must be nice to have nothing to lose.

Dark times may lie ahead.

People are laying blame in one place.

This is Trump's shutdown, and Republicans are standing with him.

Wonder who could be reveling in this chaos...

Trump vowed to run the country like he did his businesses - right into the ground.

More from People/donald-trump

Vivian Wilson
@vivllainous/Instagram

Elon Musk's Trans Daughter Just Made Her Drag Debut At An Anti-ICE Fundraiser—And Fans Are Obsessed

Elon Musk's disowned trans daughter Vivian Jenna Wilson has made a name for herself online for mercilessly dragging the father who once said she was "dead" to him because she was "killed by the woke mind virus."

But recently she took it to a new level, leveraging her fame in her first drag performance at a Los Angeles anti-ICE fundraiser.

Keep ReadingShow less
Donald Trump
Brendan Smialowski/AFP via Getty Images

Trump Administration Fast-Tracks Eliminating National Suicide Hotline's LGBTQ+ Youth Support

On Wednesday morning, news broke that the administration of MAGA Republican President Donald Trump was eliminating certain suicide and self harm resources provided through the 988 Suicide and Crisis Lifeline.

The lifeline offered callers options to speak to people who specialize in meeting their needs. But the Trump administration decided this was a service that LGBTQ+ young people don't deserve.

Keep ReadingShow less
Donald Trump
Chip Somodevilla/Getty Images

Trump Blasted For Announcing New Additions To The White House Lawn As Global Tensions Escalate

President Donald Trump was criticized after announcing that two new flagpoles would be added to the North and South Lawns of the White House—not the greatest look amid heightened global unease as tensions between Israel and Iran ramp up.

According to the Associated Press, Trump watched as a crane installed the newest flagpole on the South Lawn, remarking, “It’s such a beautiful pole.” He later returned to the site to salute as the American flag was raised for the first time.

Keep ReadingShow less
Screenshots of Donald Trump from CNN supercut
CNN

Trump Mocked For 'Two Weeks' Iran Deadline With Supercut Of All His 'Two Weeks' Promises

President Donald Trump has a history of promising to resolve problems within "two weeks," and a new viral supercut mocks him for all the times he's said as much—including right now with tensions in the Middle East higher than ever.

Trump said Thursday he will decide within two weeks whether to involve U.S. forces directly in the escalating conflict between Israel and Iran, citing what he called a “substantial chance” for renewed nuclear negotiations with Tehran.

Keep ReadingShow less
red flag with pole on seashore
Seoyeon Choi on Unsplash

People Break Down The 'Silent Red Flags' Folks Tend To Ignore In Relationships

A red flag has come to mean any warning sign in life, in addition to the literal red flags that are placed on beaches or industrial sites to warn people of danger.

People will respond to situations by saying, "That’s a red flag." But before that language evolved, they'd just call them "warning signs."

Keep ReadingShow less