Writer. An health surely the most Immediate Impact of this crisis is the lives that are being taken from families and communities all over the world. Not focusing on the economics of it. It is very clear we will come out of this crisis with an enormous amount of debt. The debt story into three buckets. The first is government. The second is businesses and the third bucket is households. The federal government is on track to run budget deficits like we have never seen before. Last year we were hitting trillion dollar deficits, we thought that was eyeopening. Now we are talking about a 3 trillion deficit. And theral reserve central bank will play a very big role on financing that deficit. When you look at state and local governments, many of them by their own design have to run balanced budgets. For them in order to avoid accumulating debt, they will be doing a lot of cutting over the next several months or years. That will have economic impact. In the business sector, businesses came in
U. S. Economy. His plan called for phase return, outlining specific steps for state and local officials to follow. This is an hour and 15 minutes. Pres. Trump thank you very much. Our nation is engaged in a historic battle against the invisible enemy. To win this fight, we have thank you very much. Our nation is engaged in a historic battle against the invisible enemy. To win this fight, we have undertaken the greatest National Mobilization since world war ii. And that is exactly what it has been. We have marshaled every instrument of American Power and we have unleashed our most potent weapon of all, the courage of the American People. These have been trying times. A cruel virus from a distant land has unfairly claimed thousands of precious american lives. Is our pain. We mourn as one national family. Our country has come together. We draw solace from the faith that god has received the departed. He has taken the departed into his eternal and loving embrace. They will never be forgott
Been. We have marshaled every instrument of American Power and we have unleashed our most potent weapon of all, the courage of the American People. These have been trying times. A cruel virus from a distant land has unfairly claimed thousands of precious american lives. To every citizen that has lost a cherished loved one, your pain is our pain. We mourn as one national family. Our country has come together. We draw solace from the faith that god has received the departed. He has taken the departed into his eternal and loving embrace. They will never be forgotten. Over the last weeks and months, millions of americans have joined together in a shared national sacrifice to halt the spread of this horrible disease. The army built field hospitals in sports arenas and convention centers. The army corps of engineers is great. Over 20,000 beds in record time. The navy sailed hospital ships to our biggest cities. Lifesaving supplies and experimental medicines were rushed to the front lines as
Coming up with the plan that the president will recommend . I think that what we need to do, we need a nuanced approach. I think in pennsylvania weve got too far. The governor shut down construction, even online car sales. That is too much. We need to make sure were not hurting the economy unnecessarily while were still protecting Public Health. So for example, we should let local counties make the decision, even local muse municipalities where population is most dense, most rural, combat this with nuanced, balanced approach rather than painting with a very broad brush stroke. Elizabeth here is what the president is saying. Governors, you will call your own shots. You can start reopening before may 1st. Well give you county by county basis when it comes to outbreak of covid19 on a county by county basis. He will say the onus is on you, the buck stops with you governors to reopen. Half of u. S. Cities are facing lay offs of their own city workers, that means cops and firemen. No federal
Pres. Trump thank you very much. Is engaged in a historic radel against the invisible enemy. To win this fight, we have undertaken the greatest National Mobilization since world war ii. And that is exactly what it has been. We have marshaled every instrument of American Power and we have unleashed our more potent our most potent weapon of all, the courage of the American People. These have been trying times. Distant landfrom a has unfairly claimed thousands of precious american lives. To every citizen that has lost a cherished loved one, your pain is our pain. As one national family. Our country has come together. We draw solace from the faith that god has received the departed. Intos taken the departed his eternal and loving embrace. They will never be forgotten. Weeks and months, millions of americans have joined together in a shared national sacrifice to halt the spread of this horrible disease. The army built field hospitals in sports arenas and convention centers. The army corps o