May 22, 2020      11:12 AM

With unemployment at historic highs, a recovery is likely two years away

The consensus among economists is this isn’t the time to worry about public debt and government should spend whatever it takes to get people comfortable spending money again since about 70% of the economy is based on people “buying stuff”

This past week's news of Texas unemployment at 12.8 percent is nowhere near the end of the bad economic news, per experts.

During a biweekly Zoom conference of the Texas Business Leadership Council, economist Jason Schenker warned that the US economy will most likely not reach December 2019 levels until the middle of 2022. Schenker also reported that US unemployment is really about 25.8% with Texas unemployment about 17.3%.

By Jon Fisher

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