the opportunities that can help meet these challenges, we talked about the cbo partnerships. we need to do strategic staffing within our own teams to make sure again that there's language concordance and as much as possible we are bringing in people who understand communities that are most at risk and can help us with our own internal pdsa work. the right to recover program is really wonderful and beer goingg to see the impact on people's ability to isolate safely at home for the entire time it's recommended. we're working now to coordinate testing and reducing barriers for the people who need it including contacts. and you know, we're also going to be working and are working with the unified command joint information group in order to really double down and have a message and quarantine and what the resources are to support people in doing that and that is all of us no matter what neighborhoods we should be doing this as second nature. coming our faces as the primary thing we can each do to reduce the spread of covid-19 and then, there's been a lot of interest and could it p

the opportunities that can help meet these challenges, we talked about the cbo partnerships. we need to do strategic staffing within our own teams to make sure again that there's language concordance and as much as possible we are bringing in people who understand communities that are most at risk and can help us with our own internal pdsa work. the right to recover program is really wonderful and beer goingg to see the impact on people's ability to isolate safely at home for the entire time it's recommended. we're working now to coordinate testing and reducing barriers for the people who need it including contacts. and you know, we're also going to be working and are working with the unified command joint information group in order to really double down and have a message and quarantine and what the resources are to support people in doing that and that is all of us no matter what neighborhoods we should be doing this as second nature. coming our faces as the primary thing we can each do to reduce the spread of covid-19 and then, there's been a lot of interest and could it p

. >>> welcome back we have a news alert for you from the cbo on its ten-year economic outlook >> the-partisan congressional office just out with its outlook suggesting the unemployment rate will peak at more than 14%. it will come back down and end the year at 10.5%. next year the unemployment rate would end the year at 7.6% 2022 could be at 6.9%. importantly, the cbo does find that the unemployment rate will remain elevated above pr pre-pandemic levels throughout the ten-year window. as for gdp, the cbo projecting that gdp will end this year at negative 5.9% but rebound in 2021 to 4.8% real gdp over the course of the next seven years would hover around 2.1 to 2.2% below what they expected during the pre-pandemic time period this just shows you how long the impact of the virus could stay with us. >> thank you >>> u.s. coronavirus cases just hi hit a record high. testing in stiemome states is getting pushed to its limts. >> these are record numbers of new coronavirus cases that we're seeing states reporting more than 50,000 across the whole country and florida, this morning reporting

report from the congressional budget office it releases 10 year forecast for the nation today, the cbo is a non-partisan government agency. >>it estimates that unemployment will not return to pre pandemic levels for at least 10 years. the cbo is also revising his forecast for overall economic growth and it is predicting that the deficit could quadruple this year. stocks closed higher today with a number of jobs increasing the nasdaq composite soared to a new closing record of 10,207 points. that was a 53% climb, the dow gained 92 points and the s and p 500 jumped 14 points the market will be closed tomorrow for the independence day holiday coming up on kron 4 news today officials in hayward are blaming the pandemic for the amount of trash piling up on city streets. >>what is behind the growing problem. >>i don't believe they're taking this as seriously as they need to. >>sounds like trouble in tuscaloosa what students are doing that is the complete opposite of orders from health officials and up next dozens of school officials in the south bay forced to shelter in place after potential

i don't know the cbo estimates. but what different marginal propensityies to spend out of income that goes to different groups in the economy. there is a vast amount of work on that and as ben said unemployment compensation to low wage workers virtually all of that is spent and it will be similar for state and local government spending that are among our top priorities, very high impact on spending in the economy. >> thank you. i'm out of time and yield back. >> thank you, mr. foster. the chair now recognizes mr. kim for five minutes. >> thank you all for gathering and talking about this. i want to start by responding to a comment made earlier in the hearing. another member of the committee was pressing his point about schools citing the american academy of pediatrics about next steps with our kids. i was interested in learning more about this. i quickly researched this and found an important clarifying comment made by the academy regarding the statement being misunderstood and misrepresented. i wanted to read it fo

i think that the cbo is extremely pessimistic in that regard. but what we're looking for, ali, is something that economists are now calling scarring. in other words, we had a lot of people go on temporary layoff. a lot will come back. but for some of these places, the business may not be there anymore. the job may not be there anymore. on the plus side, there may be new jobs if people continue to get more stuff online rather than in retail stores. but some of those retail stores, they may never reopen. some of the restaurants, they can't survive at 50% capacity until we go back to 100%. so there's going to be scarring in the economy, the extent of which i think the cbo may be too pessimistic. but the idea we're going back to the way it was a couple months ago in short order is almost certainly too optimistic. >> steve, i know it's something you think about a lot because i know you guys talk about it a lot at cnbc. how do you reconcile the record stock market performance? we're in very strong territory. if a martian popped into earth and looked a

your comment about cbos is important. they are a link. when you have a teacher that is teaching families in different languages. doing zoom with families in latin and viet nam in the classroom. i have done more work with cbos to bring them up to speed as partners. we need the city and we also need the cbo partners and family leaders and volunteers to help us make those connections, especially for the vulnerable communities. we are rely on. part of the resolution as well talking about violence, supervisor fewer was mentioning about. how we prevent, you know, how we support community wellness and prevent violence. we wrote a resolution to remove police from schools. we wanted the money from sro to helping schools to really connect families with resources. we were asking for a community school coordinator. what we saw the two schools that pivoted the best online were schools identified as community schools. mlk middle school had staff and infrastructure when families were in need they got them devices and helping them get online. if there is

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. >> and you mentioned the cbos, community-based organizations, they were so ready to put their footoldiers on the ground and start pounding the pavement. but, of course, the pandemic has changed everything. are they still able to do something other than having to knock on doors? you want to go to churches and get the attention, but you just can't do that right now. >> they are actually. we have so many different groups that understand -- you know, before covid, they knew the importance of gettingmunity bec that's how we get federal funding for the next ten years. but the pandemic i think really highlighted the importance of a complete count, not only for responding to the pandemic to know where the populations, the populations who are most at risk who need the most services are at, how to get to them, what languages they speak, and so forth, how many children. but i think that need is highlighted. they are the ones who are our foot soldiers right now. they're district information via their food distribution methods, for example. the catholic diocese has been very important. we need

the cbo expects job markets will improve, albeit weaker than before the virus hit the economy. president trump's top economic advisers says they administration -- the administration is increasingly displeased with china. larry kudlow is concerned about high tech transfers with companies linked to the chinese military. he expects one trade deal is making progress, but washington will take action. jeffreyer girlfriend of epstein has been arrested on sex charges in new hampshire. she is accused of assisting him to abuse minors and groom victims known to be underage. maxwell previously denied all involvement. eckstein was found dead -- epstein was found dead in jail, it was ruled a suicide. ahead, hong kong exchange is rushing off the political upheaval, the stock is at a record driven by a flood of ipos. we will talk about the outlook for listings. this is bloomberg. ♪ yvonne: taking a look at asian stocks, we will get more on the markets. the u.s. jobs report was the catalyst of all of this, it was a pretty stunning blowout figure. will this trend continue? what do you see from t

your comment about cbos is important. they are a link. when you have a teacher that is teaching families in different languages. doing zoom with families in latin and viet nam in the classroom. i have done more work with cbos to bring them up to speed as partners. we need the city and we also need the cbo partners and family leaders and volunteers to help us make those connections, especially for the vulnerable communities. we are rely on. part of the resolution as well talking about violence, supervisor fewer was mentioning about. how we prevent, you know, how we support community wellness and prevent violence. we wrote a resolution to remove police from schools. we wanted the money from sro to helping schools to really connect families with resources. we were asking for a community school coordinator. what we saw the two schools that pivoted the best online were schools identified as community schools. mlk middle school had staff and infrastructure when families were in need they got them devices and helping them get online. if there is

i'm speaking on behalf of cbo and in solidarity with many nonprofit partners. we firmly believe in racial equity and we are also speaking out in strong opposition to budget cuts for community-based organizations. we are intentional to getting san francisco through covid-19 pandemic and protect the trump administration from the attack. the pandemic struck as one of the worst possible time for the community. san francisco needs cbos to continue helping families to avoid going hungry, maintain access to the labor market and be protected from being torn apart by deportation. we are the first place many sf residents turn to in a crises. when the city shut down in march the number of families for food pantries skyrocketed. when our clients get sick with covid-19, we the first place to turn to for support. at the same time, our legal team continue providing urgent services even as the trump administration is using the pandemic as cover. >> thank you for the opportunity to speak today. i work in san francisco mission district in community services where the coordinate

if you're on the verge of an agreement but it has to be reviewed by the cbo and the legislative counsel, go to the rules committee, take the day to bring to the floor, take the -- god knows in the senate, how many days it takes to bring something to the floor there. to bring members an adequate amount of time to review things in there and perhaps 72 hours. then you go to the rules process and the rest. then it takes -- then the president's signature. so a week would be a time for that if you have a bill. what are we going to do in a week? what are we going to do in a week? first of all, they don't have the votes for it in the senate. let's get real about what -- who says what. we passed a bill ten weeks ago. it was bipartisan. we passed a bill over ten weeks ago. they couldn't even get a shell bill. they couldn't even get a $200 which we totally reject. they couldn't even pass something like that among their own members. forget 60 votes. talk 51 votes. so it's no use -- why don't we get the job done. why don't we just get the job done. there's just -- the only accommodation that such a

what does former cbo director think? he'll join us and new woes for wirecard investors as the roenn of europe case continues we are back after this 300 miles an hour, thats where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me that i'm protected. during turbulent times, consider protected lifetime income from an annuity as part of your retirement plan. this can help you cover your essential monthly expenses. learn more at protectedincome.org . ♪ ♪ now is the time to support the places you love. spend 10 dollars or more at a participating small business and get 5 dollars back, up to 10 times with american express. enroll now at shopsmall.com. save without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when y

cbo: that was the paribas speaking to bloomberg earlier today. parent company and owns 25% of it. they are weighing whether or not to sell part of the state or all of it. alex webb, bloomberg opinion columnist, joins us now. with this willie happened -- with this really happened? ?id softbank own nvidia why would they want to get back in? alex: softbank does not own all of arm, it is the vision fund which owns 25% of that stake. all of it is controlled by softbank entities. softbank faces pressure from investors, not the least of which is elliott. some investments are less than the enterprise value. that is something they are trying to correct. arm is something they acquired four years ago with the intention of holding onto it for a decade or more. on its books it is still valued at the $32 billion it paid. carrying out a transaction like this, particularly with stock as well as cash brings better visibility into the value of the investment and will help rerate the shares. if i am amd, if i am samsung, if i'm qualcomm, if i am broadcom, the list

state and federal grants and all of those grants have continued and we're working with all of the cbos to provide the distance and where we can outdoor that's part of coordinating if it's possible, like we did this summer to do some outdoor activities as well as online. >> those contracts are school based, generally speaking so each site determines if they're going to contract out with them annually so i don't know if we have the answer of what the sites have decided going forward into the new year but maybe there's an opportunity to be part of the after school programming with those grants. i've had play works and i hope we can work with them if we could. >> i love play works. i love play works. >> all right. thank you for the time. >> all right. thank you commissioner cook. student delegate hines-foster. >> you have a series of questions. one thing that was already brought up but i'd like to highlight it again, what's the plan for upper grades like middle school and high school. commissioner cook asked the question about grades and i'm pretty sure superintendent responded they're wor

these are folks like cbo's and federal reserve board of governors. economist at morgan stanley and goldman sachs. the range of what they're predicting, with our economy would shrink somewhere between 4.6 and 8 percent. this is causing economic devastation. if a real t human toll and real people. as a result of that, congress happened. we have to a fast. that move swiftly. we want to provide financial help to individuals who are unemployed all of us a sudden through no fault of their own. what if help businesses. who can hopefully survive and rehire and help us recover from this covid-19 recession. i also want to make sure that we provide an aftermarket so we wouldn't see any kind of teasing up and see some real financial devastation. the result of all of that, and within a very short period of time by the end of april. we are already past four different relief packages totally a big amount. we had no oversight meeting go. some of our witness and sent it should closer to $3.6 trillion in learning to use the 2.9 trillion and relate that to what i just

these are folks like cbo and federal reserve board of governors, economists at morgan stanley and goldman sachs. the range of what they are predicting will shrink somewhere between 4.6 and 8%. this is causing economic devastation. real toll on young people and as a result of that, congress acted. we acted fast, swiftly, massively. we want to provide financial help to individuals that are unemployed all of a sudden through no fault of a their own. we want to help provide financial need to businesses to hopefully survive and rehire him help us recover from this covid recession. we also want to provide enough liquidity so we wouldn't see any kind of seizing up and see some real financial devastation so the result of all of that in a short time by the end of april we had already passed for differentff packages totaling $2.9 trillion. we sat on an oversight hearing in my committee two days ago. some of the witnesses said it's close to $3.6 trillion but i'm going to use the $2.9 trillion at a minimum and to relay that to what i talked about, that represents about 13.5% of the economy. so thso a

a former cbo director. maybe a quick word on what edward is talking about.we'll get into president trump's plans for a potential second term in his agenda. this state aid fight wit be interesting to watch the way it kind of plays out because you will have the democratic-run states really pushing hard, we need the money, you want us to open up schools, wonder if the republicans will give in or dig in on that, what do you think? >> i think they're pretty dug in, but in the end there will be more money for states whatever comes out of congress. there are legitimate reasons. they bore the brunt of the response on public health front. send money on emergency responders and the like. there is a revenue hit. congress set up something called the municipal liquidity facility at the fed to allow states and localities to borrow against the loss revenue and pay off the next four years. that is way to get a bridge through. given there is real need on one hand and another source of money on the other, hard to figure out what the right number is. that is it what the fight

what cbo is projecting right now, if we do nothing and we don't continue to try to make gains in the deficit over the next ten to 12 years. the one thing that the vice president joins, he is offering some solution as to how he will pay for it. which includes tax increases on the wealthy. but the bottom line is, we know, it won't come out of the sky. we are going to have to be able to get it from someplace. at least the vice president is putting forth plans to create jobs for the future and make sure american people can get back to work. >> bill: okay. it sounds like a lot of people to be paying taxes under the plan. but defense secretary marcus been in the room so maybe this event at the white house about to get underway. while we await that my two clips, tomorrow barack obama and joe biden with an extended i don't know if it was an interview or conversation. socially distant. we have a clip of that but then we cross row a segment, chris wallace's interview with the president of the white house fox news sunday. then we will talk about this. >> can you imagine standing up as a preside

economy to recover from the coronavirus pandemic the cbo estimates unemployment will not return to pre pandemic levels for at least 10 years kron 4 state of the psac ii talked with local economic experts about the recent jobs report and the congressional budget office has forecast an. >>she joins us now live from the city was very actions. taylor. >>well as we've already seen a lot can change in a month, even just a week so predictably the experts that i spoke with say that these projections are also dependent upon many uncertainties and unknowns but with that said they say that the area is already seeing some concerning trends that could impact our recovery. >>the coronavirus has flipped twenty-twenty upside down. but now experts say the pandemic will likely have a lasting impact on the country's labor market over the next decade in its latest report, the congressional budget office projects a 4.4% unemployment rate at the end of 2030 which is higher than pre pandemic levels of 3.5% in february this year as a long-term projections are filled with uncertainty all the time and even more

cbo noted the riddled with uncertainty because of the virus itself.gton lawmakers hint at growing mow 34e7b9 um to shape another round of stimulus before the august recess. in new york, i'm christine romans. >> announcer: "before the bell" brought to you by -- [squeaky shopping cart] [sniffing] is the salmon wild-caught? she only eats wild caught. [cash register beeps] uh, i need a price check on honey. don't get mad. get e*trade and get more than just trading. investing. banking. guidance. can match the power of energizer. because energizer ultimate lithium is the longest lasting aa battery in the world. [confetti cannon popping] energizer. backed by science. matched by no one. >>> welcome back. more than a year after house committees demanded president trump's financial records, we could soon know as soon as tomorrow whether the president's bankers or accountants will finally be forced to cooperate. and house democrats aren't the only ones demanding to see what the president doesn't want you to see. the manhattan district attorney is waiting to hear

>> on the current course, the cbo is predict will get back to where we were before -- where we would have been if e pandemic hadn't hit and get back so if we keep doing what we are doing, it is going to be a very long, slow recovery, and the people who -- in the most disadvantaged will be the ones who ffer the most. and their kids, because their kids are not going to be able to get an education this fall. >> woodruff: you mean in terms getting back to where we would have otherwise been if it hadnth been for pandemic, that's a long time to wait. >> it is. it is a terribly long te, but the sad thing is, is that if we could just o enough teing to find out the roughly 2 million people who are infected right now, quarantine them for two or three weeks, the pandemic would come to a screeching halt. this is all we ne to do is figure out who is infected, gt them into ice isolation, the halt and we just no haveeching the commitment to just start doing it. woodruff: very tight connection between business, between jobs and the economy and finding out who has this covid it.nd then dealing with >

. >> and we've been hearing estimates from the cbo, too, not just about the job terms, but the unemploymente in general, about how bad it could be for the next decade. >> the congressional budget office really making it clear that it could take a full decade to completely recover from all of this and get all of those people back to work. when you see where the jobs gains have been in the past couple of months. they were -- you know, the tip of the spear for where we lost the jobs. you know, in retail and in hospitality. and if you have a resurgence of the virus and you have more shutdowns, you could see those jobs disappear again. i think the virus really clouds the outlook here for how strong the recovery will be for the jobs market in the near-term. >> one of the things that's interesting, is as the pandemic gets worse, discussion in washington about a stimulus increases and the markets actually seem to like that. so in some way, when the pandemic situation gets bad, wall street thinks more money will be pumped into the economy. where are discussions right now about a new stimulus? >> and

the cbo made a forecast before we saw this recent uptick. would take us until 2028 to get back to where we would have been if the pandemic hadn't hit. now what we've seen since that forecast came out is this acceleration and the spread of the virus and another slowdown so at this point we're looking to now beyond 2028 to get back to where we need to go. frankly, we're never going to get there until we take the other measures that will get the virus under control. >> we'll see if that lesson is learned. grateful for your time and insights. the car analogy is a bit jarring but appreciate you sharing it with us today. >>> coming up, a look at the sunbelt's role in the summer coronavirus surge. (birds singing) (bouncy keyboard music) - [announcer] food delivery just got more rewarding. (package crashing into ground) now that gruhhub gives you rewards when you order. (dog barking) did you order tacos again? (device beeping) boom, rewarded with a perk like $5.00 off. ordering dinner for the family? voila! rewarded with free delivery and a side of

your comment about cbos is important. they are a link. when you have a teacher that is teaching families in different languages. doing zoom with families in latin and viet nam in the classroom. i have done more work with cbos to bring them up to speed as partners. we need the city and we also need the cbo partners and family leaders and volunteers to help us make those connections, especially for the vulnerable communities. we are rely on. part of the resolution as well talking about violence, supervisor fewer was mentioning about. how we prevent, you know, how we support community wellness and prevent violence. we wrote a resolution to remove police from schools. we wanted the money from sro to helping schools to really connect families with resources. we were asking for a community school coordinator. what we saw the two schools that pivoted the best online were schools identified as community schools. mlk middle school had staff and infrastructure when families were in need they got them devices and helping them get online. if there is

larger point, that we won't actually recover a lot of the lost output for sabia decade if you go to the cboorecasts. the way we have been looking at global macro is this multi-phased framework. phase one being the rapid rebound. exports in august where base effects and mechanically, -- that is what happens when you shutdown an economy and then reopen. plus, we have had immense apport from the monetary third -- monetary and fiscal authorities. we could be entering phase ii, the still that phase. .he improvements will stall out our expectation is that the focus will shift from improving towards moreanges depressed levels of activity. it could be precrisis levels. yvonne: when it comes to the market indications, does that mean i need to start reducing my risk now in the third quarter? thisarket has been eyeing trade and wondering if it can continue. could the fed deploy some yield curve control later on this year? verywe have gone from undervalued over the last few --ths and shifting back to from that perspective, a more neutral stance between equities and cash would be prudent. phaseare embar

it has not been -- by cbo, but to say that it's ridiculous. especially since less than six months later, he talked about putting up a bronze plaque with the va motto on it at all 170 va cemeteries around the country, which would come to me at a hugely significant cost. it belies his claim that, you know, changing the motto has anything to do with finances. and let me just say that, you know, it's not that difficult to connect the fact that women are not included and recognized in the va's motto, with the fact that they get sub-par -- beyond sub-par treatment from their male colleagues. if you ever expect to do anything substantive and address the chronic epidemic of sexual harassment against women and men in the military, you have to start by not just actions that you take, but the words that represent the very institution that they are charged with defending. so i really hope that you will reconsider your position and stop making reference to words that were spoken many years ago because the reality of the military in 2020 is very different,

the cbo expects the job market to improve, although weaker than before the coronavirus hit the economyliament is at a legal standoff, backing a program seen as a key component of the euro area's rescue plan. joinedlor merkel pro-liberal business democrats seen as a clear signal that berlin intends to keep the market in one piece. germany's top court ruled the buying plan could be illegal. the former girlfriend of convicted pedophile jeffrey epstein has been arrested on sex charges in new hampshire. ghislaine maxwell has been accused of abusing minors by helping to recruit and groom victims known to be under age. maxwell priestley denied all involvement. -- previously denied all involvement. epstein's death was ruled a suicide. global news 24 hours a day on air and on quicktake on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm karina mitchell. this is bloomberg. shery: the u.s. senate has given its final approval to legislation that would impose sanctions on chinese officials cracking down on dissent in hong kong. the bill heads to president

i'm speaking on behalf of cbo and in solidarity with many nonprofit partners. we firmly believe in racial equity and we are also speaking out in strong opposition to budget cuts for community-based organizations. we are intentional to getting san francisco through covid-19 pandemic and protect the trump administration from the attack. the pandemic struck as one of the worst possible time for the community. san francisco needs cbos to continue helping families to avoid going hungry, maintain access to the labor market and be protected from being torn apart by deportation. we are the first place many sf residents turn to in a crises. when the city shut down in march the number of families for food pantries skyrocketed. when our clients get sick with covid-19, we the first place to turn to for support. at the same time, our legal team continue providing urgent services even as the trump administration is using the pandemic as cover. >> thank you for the opportunity to speak today. i work in san francisco mission district in community services where the coordinate

>> here is the thing, it is like cbo estimates. you can have a lot of expertise generally and still get predictions wrong. predictions are not facts. what happened here is you had a lot of people making educated guesses to the best of their ability, we might say, but they were just guesses, yet we were expected to treat them like they were certainty. >> thanks. my own personable weighing in, my little world and individual congressman gets, is there is a growing body of information that the way to avoid covid is have more vitamin d in your body. it is a strong correlation between vitamin d and not getting covid. are you familiar with that sort of thing? and would it perhaps be better off rather than analyzing the chance of getting covid by race, analyzing the chance of getting covid by the amount of vitamin d in your body? >> as you know, correlation is not causation. the reason i mention that in this context, we do not know if the better response in people with high vitamin d is due to the presence of vitamin d or the fact that the

cbo estimates unemployment will be 8.6% at the end of 2021, which is far more than double the precrisis level. in history shows us the labor market can remain weak far longer for black workers than white workers. so many black households will struggle longer with no, no earnings. if additional rental assistance is not made available, community across the country will struggle to address the impact of covid-19. the heroic effort to safely sheltered thousands of vulnerable people at risk of covid-19 will be squandered it people wind up back on the street because they can't get rental assistance to transition to more permanent solutions. large numbers of unsheltered people who want to come inside one continued to be criminalized and underserved. it's going to was of households can't pay rent, we might see a wave of evictions once the moratorium on evictions and. some household will pay rent but stopping other bills like utilities which would put them at high risk of losing to housing in the future. these indicators of what might come highlight an important point. covid-19 has created a per

the model of having some youth at schools and some they'll lean on the cbos to give them a place to go for additional support. we're setting up one of the youth rooms with brand new chrome books, protected internet ensuring we have the services so the kids can come and get access. if they're not at school they'll be able to come to the y to get services and support so they're not missing out on too much more education. we have 24 youth enrolled and averaging 17 a day and if they miss they have to be dropped and with the 17 of the 24 showing up, we provide breakfast, lunch and supper and they get breakfast in the morning, a full lunch and then supper if they need it in the afternoon and the cool thing with the program is we're also able to offer it to any youth up to the age of 18. they can come and pick up their hot meals during these lunch times at any point that works with them and they can come and get it. no identification needed just come and get it themselves. that's a service we have available for any of the youth along with supporting the program and they condition also get a h

ashley: well the cbo, the congressional budget office, is predicting a strong second half and even improvedsaying that is a little optimistic? >> no, i think that's right but again it is like trumping off a cliff on the trampoline the bounce is impressive but the fall is very important. but as serious matter, the way we look at it we'll be down 35, 40% of real gdp in the second quarter. we'll bounce that 25% or so. that means it would be the fourth quarter of 2021 by the time gdp back to where it was, fourth quarter, 2019. it is a plunge, bounce, a crawl. the speed which we recover from here on out, depends on the ability determined as a people to crush the virus, and be disciplined in doing so. ashley: i still figure that image, david of jumping off a cliff on to a trampoline, i get your point. quite effective. thank you. pete hegseth, come back in. we are heading, pete, into the holiday weekend and the president is slipping in the polls. i mean all the polls we've seen has joe biden ahead. do you put much store in those polls and what does the president have to do? we talked about messagi