Douglas Holtz-Eakin: ‘No One Would Argue That the Stimulus Has Done Nothing’
Republicans are pushing back hard against today’s unemployment report, which showed a lowerr-than-expected 247,000 new jobless and the overall unemployment rate
Author:Kelly HayesReviewer:Celeste PearlJul 31, 2020193.7K Shares6.4M Views
Republicans are pushing back hard against today’s unemployment report, which showed a lowerr-than-expected 247,000new jobless and the overall unemployment rate falling 0.1 points to 9.4 percent. Former McCain campaign economic adviser Douglas Holtz-Eakin spoke to reporters on a Republican National Committee-sponsored call to make the wonk’s case against reading too much into the report
“No real earnings growth in this report that would suggest sustained upward growth in this economy,” Holtz-Eakin said. “It cannot be considered good newsthat people left the labor force. If not for that, the unemployment rate might have creeped up to 9.6 percent, is my guess.”
Holtz-Eakin challenged Democratic rhetoric about the effect their policies have had in mitigating economic problems, though he allowed that “no one would argue that the stimulus has done nothing.” The problem: Some Republicans have argued exactly that. In February, Dick Armey, the former House GOP majority leader who now leads FreedomWorks, predicted that the stimuluswould actually worsen the economic picture. “Taking money out of the private economy,” Armey wrote, “either through taxes or inflation… and spending it in a way that doesn’t offset the loss of money with real economic gains is worse than doing nothing.” In July, Sen. Jon Kyl (R-Ariz.), the GOP’s whip in the Senate, suggested cancelingthe rest of the stimulus in a column that ran down the ways it seemed, to him, to be failing and wasting money.
Kelly Hayes
Author
Kelly Hayes is a seasoned journalist with over 10 years of experience, specializing in news reporting and horoscope analysis. She holds a Bachelor's degree in Journalism from New York University, enhancing her credibility and expertise in the field.
Kelly's writing style is characterized by clarity, depth, and a commitment to delivering credible information. Her published works across various platforms showcase her knack for engaging storytelling and insightful analysis.
Readers trust Kelly's expertise in both current events and astrological interpretations, making her a sought-after authority in journalism.
Apart from her professional activities, Kelly enjoys exploring new cultures, practicing yoga, and engaging in philanthropic activities.
Celeste Pearl
Reviewer
Celeste Pearl is an accomplished writer and expert in numerology, astrology, and spirituality.
With a Bachelor of Arts in Journalism and over 6 years of writing experience, Celeste brings a wealth of expertise to her articles, making complex topics accessible and engaging for readers.
Her passion for metaphysical sciences is evident in her insightful content, where she explores the depths of these subjects with clarity and depth.
Beyond her professional pursuits, Celeste enjoys delving into spiritual practices and connecting with nature for inspiration.
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