Monday, April 6, 2020

U.S. Economy In The Face Of Coronavirus

There is a growing question that is being asked all across the United States, how long can our economy keep this up? Although it is still early in timeline for the pandemic's presence in the United States the virus has already killed more than 9,000 Americans. According to economists interviewed by the New York Times "there won't be a fully functioning economy again until people are confident that they can fo about their business without a high risk of catching the virus". The lack of data as well as a lack of understanding regarding the risk and spread of the virus only further complicates the economic situation as we cannot give people solutions and reopen the economy. Predictions made my health professionals that make predictions about when infection rates will peak have piled on the pressure that Americans are forced to feel. Economists have calculated that as business continue to close more that 10 million Americans have been pushed into unemployment with more to come.

President Trump has pushed back his expected date for reopening the economy to the end of April. However, he has received much push back from state and local authorities who have stated that stay at home orders will last through June 10th. Other states like Florida have set more aggressive targets for reopening (April 30th). What do you think is the best strategy for the President to take in regard to reopening the government?

2 comments:

Unknown said...

I don't think we are still at the right time to think about reopening the government. I do want to go back to normal life and I am sure many people do too. But, I think for right in the United States, the cases are still pilling up and it keeps growing day by day. I think the President's strategy right now is to consult with his health experts to tackle this virus and contain it so that it doesn't grow anymore. I also think he needs to have a strong order to all the states about the stay at home order. Once all of this is done properly, I believe the cases will go down and he can talk about reopening the economy again. On the bright side though, Wuhan just reopened their long lockdown yesterday.

Anonymous said...

I would also agree that we are not yet ready to reopen the economy. This is a pandemic and because of that the economy should not be the most important thing at this current time. We must get this to slow down and flatten the curve and then get the number to drastically decrease. If we were to open up the economy too soon, then we will have to go right back into the quarantine and probably for a longer time and no one wants that.