Trump Administration will not release economy forecasts in mid-season economic review

[essentialsaltes]

In a bid for greater transparency, Trump will not release the economic forecasts in the mid-season review document. After all, the February budget proposal is probably still pretty accurate, apart from the trillions of dollars of additional debt and rampant unemployment.

White House officials have decided not to release updated economic projections this summer, opting against publishing forecasts that would almost certainly codify an administration assessment that the coronavirus pandemic has led to a severe economic downturn, according to three people with knowledge of the decision.

The White House is supposed to unveil a federal budget proposal every February and then typically provides a “mid-session review” in July or August with updated projections on economic trends such as unemployment, inflation and economic growth.

Budget experts said they were not aware of any previous White House opting against providing forecasts in this “mid-session review” document in any other year since at least the 1970s.

 

[Kentonio]

Are they hoping no-one noticed the 40m new unemployment claims in just 10 weeks?

 

[Paulos23]

Just another thing they are putting behind the curtain. Nothing to see here.

 

[iluvatar5150]

The officials said the White House will release the annual deficit for the year by the end of the fiscal year in October.

How's that for an October Surprise?

Will that be enough to shut the TrumpFans up about Obama's deficits?

 

[pdudgeon]

That was a smart move on two counts:
1. There hasn't been a time like this in our Country or our World for about 4 generations, so there are very few people still left who could remember what it was like to live through a pandemic.

2. The unemployment figures are updated on a regular basis, so releasing them again in a different format would not help.

 

[TLK Valentine]

In a bid for greater transparency, Trump will not release the economic forecasts in the mid-season review document. After all, the February budget proposal is probably still pretty accurate, apart from the trillions of dollars of additional debt and rampant unemployment.

White House officials have decided not to release updated economic projections this summer, opting against publishing forecasts that would almost certainly codify an administration assessment that the coronavirus pandemic has led to a severe economic downturn, according to three people with knowledge of the decision.

The White House is supposed to unveil a federal budget proposal every February and then typically provides a “mid-session review” in July or August with updated projections on economic trends such as unemployment, inflation and economic growth.

Budget experts said they were not aware of any previous White House opting against providing forecasts in this “mid-session review” document in any other year since at least the 1970s.

It's a lot easier to look perfect when you hide your imperfections.

 

[wing2000]

That was a smart move on two counts:
1. There hasn't been a time like this in our Country or our World for about 4 generations, so there are very few people still left who could remember what it was like to live through a pandemic.

2. The unemployment figures are updated on a regular basis, so releasing them again in a different format would not help.

...sorry, but neither of those reasons explain why it's a "smart move" to with hold economic data. I can only conclude the POTUS does not trust the American people with the information.

 

[essentialsaltes]

...sorry, but neither of those reasons explain why it's a "smart move" to with hold economic data.

It's not regular-smart. This is Trump-smart, as in

'That makes me smart' when talking about not paying taxes.

Cheating for your own benefit. That kind of smart.

 

[Yttrium]

How do you even come up with economic forecasts in this situation? I realize the methods of forecasting are arcane normally, but everything has been thrown out of whack by the epidemic. Their unrealistically sunny estimates would be replaced by unrealistically sunny wild guesses.

 

[essentialsaltes]

How do you even come up with economic forecasts in this situation?

FTA: "Budget experts say there is no reason the White House would be unable to release its own economic projections. The Congressional Budget Office, for instance, updated its economic projections in both April and May as the coronavirus rippled through the U.S. economy."