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President Trump has remained hopeful that the economy will experience a massive upswing in a matter of months despite the economic fallout that has occurred due to the country being shutdown from the coronavirus pandemic.
For Democrats that massive upswing could mean losing the election in 2020.
Jason Furman who was an economist in the Obama administration claims that the current decline of the economy closely resembles something that is seen with a natural disaster. Where there is a dramatic decline followed by a rapid recovery.
The assumption about the economy is that as businesses reopen the recovery could be a lot quicker than past economic crises. The signs indicate that by the time of the 2020 election the economy will be in a dramatic upswing which means Democrats could face a huge loss.
“Given how many people were furloughed and how many businesses were closed you can get a big jump out of that. It will look like a V,”
– Jason Furman
President Trump made a similar statement earlier this month.
“I think you’re going to have a ‘V’ — I think it’s going to be terrific.”
– President Trump
The Biden Campaign has stated that they understand the obstacles they will face if the economy has a dramatic improvement.
“The way that Biden talks about the economy is not just tied to the COVID crisis, it’s also about the things that Donald Trump has done to undermine working people since the day he took office. But secondly, it’s also highly likely that under any economic circumstances in the fall, Trump is likely going to be the first modern president to preside over net job loss.”
– Kate Bedingfield, Biden’s deputy campaign manager
It makes you wonder if Democratic Governors who choose to keep their economies closed are doing it for the general well being of their citizens or as an attempt to prevent the economy from rebounding to ensure Biden gets elected.