We don’t envy the decisions that policy-makers have to make in light of the Coronavirus crisis. We’re not going to pretend there are any easy decisions here. Or that there are any magic-bullet answers. Because there aren’t. It hardly benefits anyone if the entire system collapses at once. But, how we approach those decisions, how we apply them going forward, and how (if at all) we learn from and deal with the inevitable fallout from those decisions, will say much about our values as a society (or at least, the values of those in charge of making the decisions?).
History will be the judge on this one. As will all the people watching – and their reactions once the dust settles. The question will be – are enough even paying attention?
AP: Hawks no more: Fiscal conservatives embrace rescue package
“This is a response to an invasion,” he told reporters. “This is the kind of thing you’d have to do if we were at war.”
“Failing to take dramatic action now, Toomey said, “would be a wildly imprudent thing, and it would probably result in such a severe recession — it might very well be a depression — and it could take decades to come out of this.”
“The future will be more painful,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.”
Still, she added: “This is definitely not the time to worry about the deficit. This is the time to be borrowing as much as we need to deal with the huge health crisis.”