Paul Krugman says he’s done the math — and the risk Trump and McConnell pose to the economy is ‘terrifying’ 

Very much a student of New Deal economics, New York Times columnist Paul Krugman has often stressed that helping the unemployed during an economic downturn not only helps those who are out of work — it also benefits the economy on the whole. Krugman made that point many times during the Great Recess

Source: Paul Krugman says he’s done the math — and the risk Trump and McConnell pose to the economy is ‘terrifying’ – Alternet.org

What Lies Ahead 

Through mid-June to mid-July, the COVID-19 infection rate, hospitalization rate, and soon the death rate, have all begun to escalate once again. Daily infections consistently now exceed 60,000 cases—i.e. more than twice that of the earlier worst month of April 2020. Consequently, states are beginning to order a return to more sheltering in place and shutdowns of business, especially retail, travel, and entertainment services. The direction of events cannot but hamper any initial rebound of the economy, let alone generate a sustained economic recovery. Exacerbating conditions, a second wave of job layoffs is clearly now emerging—and not just due to economic shutdowns related to the resurging virus.  More

Source: What Lies Ahead – CounterPunch.org