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A Resurgence of the Virus, and Lockdowns, Threatens Economic Recovery
Hopes for a rebound are endangered by prolonged closures of schools, renewed state restrictions on business and fears of a difficult autumn and winter.
The front doors of Public School 23 in the Bronx.
We are where we are today because.....
The Trump administration did not take the novel coronavirus seriously in January, February, and March.
The Trump administration closed the US to flights from Asia/Europe far too late.
Donald Trump dumped the responsibility for fighting COVID to 50 different state governors.
Donald Trump was never "wartime president" serious about providing ample testing, contract tracing, and the manufacture of sufficient PPE.
To enhance his reelection odds, Donald Trump pressed red state governors to reopen their states far too quickly, before they even met the cupcake White House guidelines.
The Trump administration set bad public examples regarding wearing face masks, social distancing, etc.
There has never been a national plan to battle COVID. Donald Trump - "I take no responsibility at all."
The Trump administration has no viable plan on how to safely reopen schools to students, teachers, and staff.
It seems Generation Z doesn't really care much about the health of their parents and grandparents.
What we have now are 50 states doing 50 different things. Some states are zigging while others are zagging. No national leadership. The military calls such a situation FUBAR.
Hopes for a rebound are endangered by prolonged closures of schools, renewed state restrictions on business and fears of a difficult autumn and winter.
The front doors of Public School 23 in the Bronx.
7/15/20
WASHINGTON — The United States economy is headed for a tumultuous autumn, with the threat of closed schools, renewed government lockdowns, empty stadiums and an uncertain amount of federal support for businesses and unemployed workers all clouding hopes for a rapid rebound from recession. For months, the prevailing wisdom among investors, Trump administration officials and many economic forecasters was that after plunging into recession this spring, the country’s recovery would accelerate in late summer and take off in the fall as the virus receded, restrictions on commerce loosened, and consumers reverted to more normal spending patterns. But failure to suppress a resurgence of confirmed infections is threatening to choke the recovery and push the country back into a recessionary spiral — one that could inflict long-term damage on workers and businesses large and small, unless Congress reconsiders the scale of federal aid that may be required in the months to come. The nation’s biggest banks also warned this week that they are setting aside billions of dollars to cover anticipated losses as customers fail to pay their mortgages and other loans in the months to come. Companies that used small-business loans to retain or rehire workers are now beginning to lay off employees as those funds run out while business activity remains depressed.
Expanded benefits for unemployed workers, which research shows have been propping up consumer spending throughout the spring and early summer, are scheduled to expire at the end of July, while more than 18 million Americans continue to claim unemployment. Many states are already renewing lockdowns, including California, where officials have ordered indoor bars, restaurants, gyms and other establishments to close. College sports conferences are beginning to cancel fall sports. Most economists abandoned hope for a “V-shaped” recovery long ago. Now they are warning of an outright reversal, with mounting job losses and business failures. And this time, much of the damage is likely to be permanent. Some of the nation’s largest school districts, including Los Angeles and San Diego, have announced that they will not immediately return to in-person classroom instruction when the new school year begins. Driving all the damage is the resurgence of the virus. The federal government is nowhere close to the testing and tracing capacity that some economists have long warned are needed to restore consumer confidence until a vaccine is found. The White House and lawmakers at every level, on school boards and in Congress, have not coalesced around a unified approach to getting as many Americans as possible back to work safely by the fall.
We are where we are today because.....
The Trump administration did not take the novel coronavirus seriously in January, February, and March.
The Trump administration closed the US to flights from Asia/Europe far too late.
Donald Trump dumped the responsibility for fighting COVID to 50 different state governors.
Donald Trump was never "wartime president" serious about providing ample testing, contract tracing, and the manufacture of sufficient PPE.
To enhance his reelection odds, Donald Trump pressed red state governors to reopen their states far too quickly, before they even met the cupcake White House guidelines.
The Trump administration set bad public examples regarding wearing face masks, social distancing, etc.
There has never been a national plan to battle COVID. Donald Trump - "I take no responsibility at all."
The Trump administration has no viable plan on how to safely reopen schools to students, teachers, and staff.
It seems Generation Z doesn't really care much about the health of their parents and grandparents.
What we have now are 50 states doing 50 different things. Some states are zigging while others are zagging. No national leadership. The military calls such a situation FUBAR.