Pelosi admits US could go into a ‘depression’ because of coronavirus shutdowns

House Speaker Nancy Pelosi (D-CA) admitted to CNBC’s “Mad Money” host Jim Kramer that the U.S. could go into an economic depression because of government shutdowns intended to slow the spread of coronavirus. Meanwhile, her party is currently blocking aid to small businesses intended to prevent them from going bankrupt or laying off more of their workers.

Kramer asked Pelosi whether she thought the economy could get moving again in May, with younger workers and those who have already had the virus being allowed to go back to work.

“I’m getting worried about not a recession, but a depression,” Kramer told Pelosi, Breitbart reported.

Pelosi didn’t offer Kramer much hope of reopening the economy in May, and agreed that a depression was possible. “We could have the depression because so many people are out of work,” she said.

Pelosi: Government is the answer

Pelosi made it clear to Kramer that she saw government as the answer to staving off a depression, if it was possible to do so.

“Let’s get out those unemployment checks. Let’s get out those direct payments. Let’s get these loans freed up,” she said.

The only problem is, Pelosi and the Democrats are currently delaying efforts to expand a program aimed at helping small businesses get forgivable loans to keep paying their workers until the shutdowns can end.

Does she really think Americans won’t notice that she is talking out of both sides of her mouth about coronavirus aid?

More doublespeak from Pelosi

The doublespeak from Pelosi also extended to the timeline for reopening the economy. To Kramer, she said, “Let’s be hopeful that it will be soon.”

But Pelosi also warned President Donald Trump that he had better not try to reopen the economy in May without Congressional approval.

Only trouble is, Congress is unlikely to come back from its recess on April 20 as scheduled if guidelines are in place that groups of more than 10 should not meet. So how is Congress supposed to give its approval?

For his part, Trump said Friday that he will be forming a second task force to handle reopening the economy. “I want to get it open as soon as possible,” Trump said, but added that he is working closely with health officials on that decision. “We’re not doing anything until we know that this country is going be healthy,” he said.

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