Stockman’s Corner

You might wonder whether the numbskulls down in Washington are out of their minds. Even Goldman Sachs now forecasts that the budget deficit will hit $3.6 trillion in FY 2020 or an incredible 16% of GDP; and that the two-year total (including FY 2021) might hit $6 trillion.

Nancy Pelosi, Chuckles Schumer and the rest of the Dem wrecking crew surely have the Trumpified GOP by the short hairs.

It should be pretty obvious by now that America has become afflicted with a nasty symbiosis.

Do not throw out your tin foil hats just yet!

Where does the Donald get these assorted government lifers, apparatchiks and clowns?

Another day, another rude awakening. The 701,000 jobs loss for March was the worst monthly drop since the bottom of the Great Recession, when the NFP count plunged by 706,000 in December 2008.

Based on today’s shocking 6.6 million of new unemployment claims, we’d bet they’ll be some explosive political fireworks soon in this country about Covid-containment versus keeping the main street economy alive. There have now been an unprecedented, off-the charts 9.96 million new unemployment claims in the last two weeks.

Could we please keep Chris Cuomo quarantined in his basement without any CNN cameras, the Donald’s big fat motor mouth locked hard on idle, the US Congress on self-isolation as far away from the Imperial City as possible and the Fed heads on home arrest without email, phones or smoke signalling equipment?

When it comes to the Covid-19 pandemic itself, there are actually two Americas—the tri-state region of New York, New Jersey and Connecticut and all the rest of the USA. The rates of testing, positives, hospitalizations and deaths are in two different ball parks.

When it comes to pandemics, we can see what appears to be light at the end of the tunnel with respect to Covid-19. But owing to Washington’s hysterical efforts to spend it into submission, what we also see in the tunnel is a runaway budgetary train heading hard upon the wall of national fiscal solvency.