The US is in a recession. Here’s what that means 01:19 (CNN)The head of the House’s select committee on the coronavirus crisis is demanding unemployment and economic projections that the Trump administration had planned to leave out of its traditional mid-session economic forecast.
Democratic Rep. Jim Clyburn, the committee chairman, sent a letter on Wednesday requesting “the unemployment and economic projections that the White House has reportedly decided to omit from the annual mid-session budget update so Congress can seek effective solutions to help struggling Americans and prevent further economic damage.”
The “mid-session review” usually comes over the summer after the winter release of the President’s budget proposal, and includes updated projections on unemployment and growth.
Clyburn sent the letter to Treasury Secretary Steven Mnuchin, acting Chairman of the Council of Economic Advisers Tomas Philipson and acting Director of the Office of Management and Budget Russell Vought, requesting that they tell the committee by June 21 “whether the Administration will include a comprehensive set” of the projections consistent with previous years.
If they don’t confirm the projections’ inclusion, Clyburn added, the committee requests that they provide by July 2 “all economic projections for calendar years 2020 to 2030,” projections by industry or sector […]
read more here —> www.cnn.com