Paul Krugman

@paulkrugman ↗

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Last Checked July 16, 2020

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Sat Jun 27 16:34:03 +0000 2020

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Paul Krugman @paulkrugman

But expanded benefits are set to expire at the end of next month, and for technical reasons will actually vanish for most workers on 25 July. There was supposed to be OK bc of a rapidly recovering economy — but the failure on virus control means slow recovery instead 6/ — 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

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Paul Krugman @paulkrugman

In effect we're set to impose devastating austerity on an economy not remotely ready to handle it — and to head that off we'd need major policy action in *less than a month*. With the White House still in denial, what are the odds of that happening? 7/ — PolitiTweet.org

Posted June 27, 2020