Trump is sabotaging his own reelection
Trump prefers to think the economy is recovering like a rocket ship. In reality, his passive approach to the coronavirus outbreak and his aversion to a muscular testing program are prolonging a huge spending contraction and imperiling his own reelection.
At his Tulsa rally on June 20, Trump said he has ordered federal officials to slow down coronavirus testing, because it increases the case count and makes the spread of the virus seem more pronounced. The White House later said that’s not true, yet Trump has repeatedly declined to establish a national testing program, as many top health experts have called for. Instead, he has deferred to state and local officials on testing, while calling on states to relax coronavirus restrictions and allow businesses to quickly reopen.
The problem with reopening is that while lockdowns are easing, customers aren’t returning. New research led by Harvard economist Raj Chetty finds that business reopenings aren’t enough to lure shoppers worried about the virus. In states that reopened early, such as Minnesota, spending hasn’t picked up more robustly than in states that stayed closed longer, like neighboring Wisconsin. And spending fell the most before lockdown orders went into effect, suggesting consumers were locking themselves down because of health concerns, a trend that seems to be continuing even as restrictions ease.
“If health concerns are the core driver of reductions in spending rather than government-imposed restrictions, governments may have limited capacity to restore economic activity through reopenings,” the Harvard study finds. “Especially if those reopenings are not interpreted by consumers as a clear signal of reduced health risks.”
https://finance.yahoo.com/news/trump-is-sabotaging-his-own-reelection-bid-143849530.html
Good job Donny. Keep it up.
