This morning, regardless of where one lived daily newspaper(s) told the story of what has happened to our economy from a failure of national leadership to deal with COVID-19. With those headlines comes the continuing drama from Republicans who want to punish elected officials who care enough to stem the spread of the virus with mask mandates. While much of the nation wants to confront the virus in effective ways, conservatives are pushing Free-dumb. There is no better example as to why education matters.
The nation’s gross domestic product fell 9.5 percent in the second quarter of the year as consumers cut back spending, businesses pared investments and global trade dried up. The drop — the equivalent of a 32.9 percent annual rate of decline — would have been even more severe without trillions of dollars in government aid to households and businesses.
With Republicans not willing to participate in helping with cash infusions into local units of government, a necessary part of any future COVID relief bill, the next GDP report in October—just weeks before the election–will be most troubling. The V-shaped swing in the economy that this White House claimed was going to happen clearly did materialize. Frankly, no one ever thought it would. But the economic implosion is much deeper than anyone would have dared predict. Without the federal power of the purse, and with the climbing numbers of new virus cases, and the pall that places on business requires conservatives to pull their head from the sand.
This weekend is not likely to produce any great compromise in Congress as the Republicans are so politically screwed come November they are more concerned about positioning themselves within their caucus for the post-Trump world. That political footwork does not bode well for the economy or unemployed workers.
Trump meanwhile has not done anything meaningful for the economy. He lumbered into the office and profited from the Obama economy. When given a chance to lead on the virus he instead called it a hoax and stated that the virus would just go away.
There is only one reaction that this nation can have regarding Republicans and conservatives when it comes to their lack of concern about the health and well-being of the citizenry and economy. They all simply need to be severely rebuked.