Health / Economy / Congress

Opinion | If You Want to Save the Economy, Stop the Pandemic

Posted On: Jul 10, 2020   |   Posted By: Politico

Opinion | If You Want to Save the Economy, Stop the Pandemic

America is trapped in a health crisis. We are, once again, facing rapidly rising coronavirus infection rates, reading headlines decrying shortages of tests and personal protective equipment and witnessing government experts call for state shutdowns.
Unfortunately, Congress and the administration seem poised to return to a tired playbook which isn't working: ramping up government spending as if we are stuck in a pure financial crisis. Financial aid, while vitally important for reducing the economic pain caused by Covid-19, will not hasten the end of the pandemic.
The only way to end our financial crisis and restore the economy is to address the pandemic itself.
By our calculations, less than 8 percent of the trillions in funding that Congress has allocated so far in response to the virus has been for solutions that would shorten or mitigate the virus itself: measures like increasing the supply of PPE, expanding testing, developing treatments, standing up contact tracing, or developing a vaccine. A case in...

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