Will Republicans doom Trump by declaring premature economic victory?

The coronavirus depression is not remotely over

President Trump.
(Image credit: Illustrated | Getty Images, iStock)

For the first time since the coronavirus pandemic struck, we now have a pretty decent jobs report. There were 2.5 million new jobs in May, the biggest number recorded since statistics started being recorded in 1939. The unemployment rate fell somewhat to 13.3 percent. Republicans were jubilant. "It’s a stupendous number. It’s joyous, let’s call it like it is. The Market was right. It’s stunning!" President Trump posted during his usual morning cable news live-tweet. White House economic adviser Stephen Moore told the Washington Post's Jeff Stein that no more rescue was needed: "There's no reason to have a major spending bill. The sense of urgent crisis is very greatly dissipated by the report." A Senate Republican aide added: "This definitively kills any chance of trillions of new spending."

However, we are plainly still light-years from full economic recovery, and America will need further economic rescue to avoid becoming trapped in a severe depression. If Republicans keep declaring premature economic victory, they will do untold damage to Trump's re-election prospects.

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