We’ll Need to Keep the Vital Organs of the Economy Alive While We Hunker Down Waiting for the Pandemic to End

A $1,000 check isn’t enough to flatten the recession curve

by Rex Nutting
Market Watch

We can do it. We can minimize deaths from COVID-19 without destroying the economy. If we can protect vulnerable workers’ and businesses’ incomes, the vital organs of the economy will survive so there are jobs to go back to when the pandemic is gone.

The answer to our coming macroeconomic failure is not a payroll tax cut, or a $1,000 check or a bailout of this sector or that company. Those ideas may have merit, but they aren’t nearly bold enough, because they would inevitably leave millions of people and small businesses bereft, without the ability to remain solvent until the economic machinery can be turned back on.

We have to bend the recession curve as well as the infection curve.

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