Krugman writes: "Covid-19 has killed tens of thousands of Americans, and will clearly kill many more. The lockdown needed to contain the coronavirus is causing an economic slump several times as deep as the Great Recession."
Economist Paul Krugman. (photo: Getty Images)
26 April 20
Blocking federal aid is vile, but it’s also hypocritical.
ovid-19 has killed tens of thousands of Americans, and will clearly kill many more. The lockdown needed to contain the coronavirus is causing an economic slump several times as deep as the Great Recession.
Yet this necessary slump doesn’t have to be accompanied by severe financial hardship. We have the resources to ensure that every American has enough to eat, that people don’t lose health insurance, that they don’t lose their homes because they can’t pay rent or mortgage fees. There’s also no reason we should see punishing cuts in essential public services.
Unfortunately, it’s looking increasingly likely that tens of millions of Americans will in fact suffer extreme hardship and that there will be devastating cuts in services. Why? The answer mainly boils down to two words: Mitch McConnell.
