Resilience after recession: 4 ways to reboot the U.S. economy
Tuesday, April 14, 2020
The COVID-19 pandemic is already affecting the lives of hundreds of thousands of Americans, and it’s poised to get worse before it gets better. Our primary concern is for the health and welfare of all those affected.
The COVID-19 outbreak’s economic impacts also will be staggering and long-lasting. Every sector of the economy — from finance to airlines, retail to restaurants — is feeling the effects. Layoffs are happening across the United States. Jobless claims are skyrocketing.
No doubt, the economic hardships faced by many Americans need to be addressed. The recently passed $2 trillion stimulus package is a much-needed short-term response. My colleague Dan Lashof recently outlined three principles that should shape how the United States structures its stimulus. As he noted, we need to start looking beyond this immediate crisis to think about the future of the U.S. economy.