Note: This thread is related to #Coronavirus #COVID19

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Paul Krugman+ Your Authors @paulkrugman Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” "Arguing With Zombies," + more. Jul. 20, 2020 1 min read + Your Authors

How to think about the current economic policy impasse, the one that is about to cut off tens of millions of desperate families: the WH and Dems have fundamentally different visions of current reality (Dems are right) 1/

In the WH view, Covid-19 is old news and not a problem, so we should push everyone back to work with tax cuts — and financial punishment for anyone who hesitates out of fear of, you know, dying 2/

In the D view, we're still in the middle of the pandemic, because premature opening wasted the gains of the spring. A lot of the economy has to stay locked down, or even returned to lockdown 3/

And the task of economic policy isn't "stimulus," it's emergency relief to let both families and essential govt services survive the months of difficulty ahead. Cutting payroll taxes for people who can't work is worse than useless 4/

Hard to see any quick agreement when one side is living in a fantasy world. And for many workers, the $600 supplement ends SATURDAY 5/


You can follow @paulkrugman.



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