Insight - Apr. 30th, 2020
Insight
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30-Apr-2020
Today on Insight, Josh Rosenstern updates us on the United State’s federal debt. As it is climbing, now over 23-trillion; due to the tax revenue falling and federal spending rising in response to COVID19. Brother Josh says we must look to our Congressmen and women to make the right decisions to stop this before any more damage is done. Brother Josh explains the GDP, which is the official scorecard for economic growth. Due primarily to the outbreak, the Gross Domestic Product is down 4.8 percent for the first quarter of this year, which is the biggest drop since 2008. Before the crisis, the U.S. had been expanding at a steady 2 percent pace during what had become the longest expansion in history; as is obvious, the drop in spending is the result of the quarantine where people are not eating out, shopping, traveling and even healthcare spending has dropped due to any non-life threatening procedures being postponed.
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