Sharp contractions in personal consumption, exports, inventories, investment and spending by state and local governments all converged to bring down GDP, which is the combined tally of all goods and services produced during the period.
https://www.cnbc.com/2020/07/30/us-gdp-q2-2020-first-reading.html
Bubble UP Economics. How Does it Work? Simply Raise the Minimum Wage to Fifteen Dollars an Hour. Then all Those people will spend the extra money in their paychecks at American Businesses. Increasing Profits. Making Stockholders Happy! Then those businesses will have to hire more people to handle the extra Customers. Decreasing Unemployment Insurance Payments. Everybody WINS! With EMPLOYMENT AT A JOB becoming a Viable Alternative to Selling Drugs for a Street Gang, Some teenagers will choose Employment... Reducing CRIME... Reducing Costs for Prisons... Reducing Costs for Law Enforcement... People will buy more food for their Children. Causing Better Health and Smarter Kids... Starvation is Not Good for Children's Brains... Farmers will sell More. Truckers will move more merchandise to stores. Increased Competition for Workers will cause Everybody's Wages to Go Up. All those Workers will pay more in Income Taxes... That would make the Government happy... Right NOW, we are having a National Debt Ceiling Crisis because the Government is Spending More that it Takes in with Taxes... Bubble UP Economics would reverse that trend... The Money Bubbles UP Through Every Layer of Society... With a rising tide, every boat floats! We Tried Ronald Reagan's "Voodoo" Economics and It Has Failed... "People" Say That Bubble UP! Economics WILL MAKE Employers LAY OFF Workers... However... Employers HAVE ALREADY LAID OFF EVERYONE THEY POSSIBLY CAN... Have you Ever Seen a Business where People Work There but Have Nothing To DO? Never!
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