The Second Great Depression

CARES was nowhere near enough. Congress will have to turn on the spending firehose, with aid to families and businesses, to avoid collapse.

The Trump administration has repeatedly argued that there is a trade-off between the country’s economic health and its public health. But economists and physicians have repeatedly argued that that is untrue: Ending the pandemic would have been the single best thing the federal government could have done to preserve the country’s wealth, health, and economic functioning. The Trump administration, in its hubris, obstinacy, and incompetence, failed to do it.…

Mitch Wagner @MitchWagner