The painful truth about Covid and the economy – Trump is to blame

The painful truth about Covid and the economy – Trump is to blame

“The recovery has been very strong,” Donald Trump said on Monday. Then the commerce department reported the US economy contracted between April and June at the fastest pace in nearly three-quarters of a century, which is as long as economists have been keeping track. The drop wiped out five years of economic growth. But pesky facts have never stopped Trump. Having lied for five months about the coronavirus, he’s now filling social media and the airwaves with untruths about the economy so he can dupe his way to election day. The comeback “won’t take very long”, he reassured Americans on Thursday. But every indicator shows that after a small uptick in June, the US economy is tanking again. Restaurant reservations are down, traffic at retail stores is dwindling, more small businesses are closing, the small rebound in air travel is reversing. What’s Trump’s plan to revive the economy? The same one he’s been pushing for months: just “reopen” it. He wants the public to believe the shutdown orders that began in March caused the economy to tank in the first place, so reversing them will bring the economy back. Rubbish. It was the virus that caused the downturn, and its resurgence is taking the economy down again. The virus is surging back because governors reopened prematurely, before the virus was under control – at Trump’s repeated insistence. The sequence of cause-and-effect is clear. The virus has surged most in states that were among the first to reopen, such as Florida ...
More on: www.theguardian.com