5 Ways the Trump Administration’s Policy Failures Compounded the Coronavirus-Induced Economic Crisis

Center for American Progress logoLast week, the total coronavirus death toll in the United States surpassed 100,000—a grim milestone in a battle that the Trump administration was not adequately prepared to fight. The United States now accounts for more than a quarter of the world’s COVID-19 deaths despite only accounting for roughly 4 percent of its population. The Trump administration’s failed public health response is mirrored by its failure to respond to the economic crisis, which has led to an economic fallout that sets the United States apart from other high-income nations.

With some 37.6 million Americans filing for unemployment insurance since the beginning of March and the official unemployment rate reaching 14.7 percent in April—a level not seen since the Great Depression—the American economy is in a disastrous state, with repercussions expected for years to come. The level of economic and public health pain that Americans are now experiencing, however, was not inevitable, but rather the consequence of a series of policy failures that started well before the coronavirus outbreak. The Trump administration’s past actions weakened the United States’ ability to respond to the pandemic, and its current actions continue to exacerbate the dual public health and economic crises. Although Congress was able to pass a series of stimulus measures that have blunted the economic pain for families, this relief happened in spite of the Trump administration, not because of it. Continue reading “5 Ways the Trump Administration’s Policy Failures Compounded the Coronavirus-Induced Economic Crisis”

Paul Krugman: A stronger GDP won’t help Americans if they’re dead

AlterNet logoLiberal economist Paul Krugman, in his New York Times column, has been stressing that the better a job the United States does with social distancing policies now, the better off the U.S. economy will be in the long run. In his Thursday column, Krugman warns that a premature reopening could hurt the U.S. both economically and from a health standpoint.

“America is now engaged in a vast, dangerous experiment,” Krugman writes. “Although social distancing has limited the spread of the coronavirus, it is far from contained. Yet despite warnings from epidemiologists, much of the country is moving to open up for business as usual.”

President Donald Trump and his allies, Krugman notes, have been asserting that a speedy reopening is necessary in order to “save the economy.” But Krugman emphasizes that a strong GDP isn’t going to help Americans who die needlessly. Continue reading.

Five factors to watch in the meat supply chain crisis

The Hill logoThe fragility of the nation’s meat supply chain is being exposed by the coronavirus pandemic, creating challenges for the industry to get food on American tables.

Processing plant closures have disrupted the supply chain and put a spotlight on worker safety.

President Trump sought to head off further disruptions by invoking the 1950 Defense Production Act to declare the plants “critical infrastructure.” The order compels facilities to remain open during the pandemic. Continue reading.