A Pandemic Policy Without a Plan
During a period requiring leaders, the US had politicians. Instead of addressing the problem in front of them, their eyes are fixed on the next election and placating their adoring masses. The long-term effect may be a lost generation. The short-term outcome may be needless hardship for those industries that are primarily hit. The immediate challenge is ensuring that consumer behavior doesn’t change permanently. The enduring challenge is to avoid crowding out programs and consumer spending from the required higher debt service and tax rates. A politician once said to never let a crisis go to waste. A leader would say never create waste during a crisis. The difference will determine the future.