Paul Krugman

@paulkrugman ↗

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Last Checked July 15, 2020

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Sat Jun 27 16:30:21 +0000 2020

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Paul Krugman @paulkrugman

If the jobs don't come roaring back, which they won't, cutoff of benefits and failure to provide aid become huge problems. The economy has been ugly, but cld have been much uglier — and is set to become so unless there's very quick action 4/ — PolitiTweet.org

Posted June 27, 2020

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Paul Krugman @paulkrugman

What makes this especially problematic is that GOP policy — both Trump and McConnell — has been based entirely on assuming that jobs will come roaring back. No need to extend special unemployment benefits; no need to aid state and local govts 3/ — PolitiTweet.org

Posted June 27, 2020

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Paul Krugman @paulkrugman

Case in point: wage and salary income fell $800 billion (at an annual rate) between Feb and May, but this was more than offset by $1.2 trillion in unemployment benefits. This kept lockdown of contact-intensive sector from spilling over into a much wider slump 5/ — PolitiTweet.org

Posted June 27, 2020 Hibernated