By Emily Martin
Do you know or have you heard of just one person who has felt the economic impact of COVID-19?
Hear Joe Biden in his own words:
Does this make any sense to you? pic.twitter.com/Z4kcDpokUQ
— Brandon Darby (@brandondarby) March 24, 2020
“Are you at all concerned, as Trump said, that we cannot let the cure be worse than the problem itself?” Haines asked. Joe Biden noted in his reply that the COVID-19 cure “will make the problem worse, no matter what.”
This statement was out of touch. How does Biden describe the more than 30 million Americans who have filed for unemployment benefits since mid-March? We can give it to Mr. Biden, this statement was said in mid-March, but wouldn’t a former vice president be educated on the government reaction for the potential economic impact and the projections of the potential economic impact of COVID-19?
Even at the beginning of March, the Federal Reserve executed a cut to the federal-funds rate, yet the stock markets still fell. Even initial claims for state unemployment benefits the week that ended March 14 rose 70,000 to a seasonally adjusted 281,000. And, at this same point in time, the projection for the week following the debate was that economists expect unemployment claims to jump to more than 1 million.
The predictions from the National Restaurant Association were even more dire. The lobby group projected that the industry could lose 5 million to 7 million jobs over the next three months.
Wouldn’t a former vice president and hopeful presidential candidate realize the impact of COVID-19 would have on the average American? Or is he so far removed that he lacks the understanding of the impact that the virus has, or was going to have, on our country?
A presidential hopeful who wants us to trust him with our health care, foreign policy, and economy, ought to have more insight than Biden has displayed.
