Pelosi: ‘We Could Have a Depression’

House Speaker Nancy Pelosi (D-CA) said Thursday on CNBC’s “Mad Money” that the United States could slip into a depression as a result of the coronavirus pandemic shutdown’s impact on the economy.

Host Jim Cramer said, “You are a natural optimist. If we can get this additional money, which I think is certainly warranted, and we get some breaks in science, do you think, is it possible to say— I know you don’t want to put a date on it, but we can stay closed—is it possible that maybe enough people in May, enough younger people, enough people who have already had it, enough people who tested, tested, tested, get the country moving? I’m getting worried about not a recession, but a depression.”

Pelosi said, “We could have the depression because so many people are out of work. And that’s why we have to get the system really energized and working. Let’s get out those unemployment checks. Let’s get out those direct payments. Let’s get these loans freed up to let the banks about the friends to the whole system they are this is entrepreneurship like we’ve never seen before because of the challenge to small businesses let’s recognize what that is, that optimism is to America. I don’t think anybody can tell you what date unless you just take it a week at a time. Let’s be hopeful it will be soon.”

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