Congress Needs To Reverse Course To Improve The Economy
Businessman struggling to move data arrow upwards
getty
Recession talk has dominated the news lately with an endless supply of pundits debating whether the United Sates is in a recession. It’s good to have that debate, but virtually everyone seems to have forgotten the incredibly abnormal circumstances fueling the dispute.
That’s not to say that anyone should ignore the bad policies–there are tons of them–contributing to economic turmoil, but policymakers will just make things worse if they lose sight of what’s happened. The obvious starting point is early 2020.
When COVID-19 started spreading across the country, state and local governments issued stay-at-home orders and effectively shut down the economy. The resulting drop in consumer purchases was unlike anything the nation has previously experienced.
Between the fourth quarter of 2019 and the second quarter of 2020, nominal gross domestic…
