Trump considers reopening U.S. economy despite coronavirus spread

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Trump considers reopening U.S. economy despite coronavirus spread

By Steve Holland and Jeff Mason

 

FILE PHOTO: U.S. President Donald Trump holds a news conference, amid the coronavirus disease (COVID-19) outbreak, in Washington D.C., U.S., March 22, 2020. REUTERS/Yuri Gripas

 

WASHINGTON (Reuters) - President Donald Trump is considering measures to reopen the U.S. economy, even as the highly contagious coronavirus is spreading rapidly and hospitals are bracing for a wave of virus-related deaths.

 

Trump senior economic adviser Larry Kudlow told Fox News on Monday: "The president is right. The cure can't be worse than the disease. We're going to have to make some difficult trade-offs."

 

The White House would look at "a number of things," he said.

 

Trump issued guidelines a week ago that he said aimed to slow the spread of the disease over 15 days, including curbing unnecessary travel. In the meantime, economic activity has ground to a halt in some states.

 

Late on Sunday, Trump tweeted: "We cannot let the cure be worse than the problem itself," adding that at the end of the 15-day shutdown period, "we will make a decision as to which way we want to go."

 

Trump, who had hoped to build his campaign for the Nov. 3 election on a booming U.S. economy, now is looking at the potential of millions of lost jobs, in addition to hundreds if not thousands of deaths from COVID-19. Many of his Republican allies fear the toll on the economy would make it harder for him to win another four-year term.

 

President Donald Trump is considering measures to reopen the U.S. economy, even as the highly contagious coronavirus is spreading rapidly and hospitals are bracing for a wave of virus-related deaths. This report produced by Chris Dignam.

 

Cases of coronavirus have grown more than 15 times since last week's guidelines. New York City hospitals are days from a crisis, Mayor Bill de Blasio said on Sunday. "If we don’t get more ventilators in the next 10 days, people will die who don’t have to die," he said.

 

Republican Senator Lindsey Graham, a Trump confidant, cautioned against prematurely lifting containment rules because of concerns about the economy.

 

“My advice would be to follow medical advice to contain the virus," he told reporters on Capitol Hill. "If we can take some pressure off the economy, fine, but my primary focus is to make sure the virus is contained and defeated. And we're just going to have to suffer through the economic consequences.”

 

The Trump administration has been pushing for aggressive monetary policy steps to stem the economic hit of the epidemic, after the president spent several weeks playing down the health risks and rapid spread.

 

The Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from sweeping restrictions on people and businesses that scientists say are needed to limit the spread of the coronavirus.

 

While Trump ponders ways to reopen at least parts of the economy, some advisers are warning that the spread of the virus is worsening.

 

"This week, it's going to get bad," Surgeon General Dr. Jerome Adams told NBC's "Today" show on Monday. Americans are not taking stay-at-home guidelines seriously enough, he said.

 

Treasury Secretary Steve Mnuchin said on Sunday the lockdown affecting large segments of the American public was likely to last 10 to 12 weeks, or until early June.

 

TRADE-OFFS

Over the last few days, some economic policy advisers have started to focus on how long lockdowns and other measures to contain the virus might last, said one adviser outside the administration.

 

Newly returned economic adviser Kevin Hassett’s team has determined that if the shutdowns continue much longer, the United States could slip into depression, he said.

 

One source said Trump began talking privately late last week about reopening the country after the 15-day shutdown. Trump believes "we are strong and need a strong economy as we deal with this crisis," the source said.

 

Stephen Moore, the economic commentator whom Trump tried to tap for a vacant Federal Reserve seat last year but who, facing staunch criticism, withdrew his candidacy, has been particularly influential, the adviser said. "He has the president's ear on this issue," he added.

 

Moore told Reuters on Monday there is a re-examination in the White House of the wisdom of “a full scale… shutdown of the economy.”

 

He said there were some who thought that “if we go on too long with the economy shut down, the human toll for that could be greater than the risk of the virus."

 

Medical experts say there is no way to return to more normal activity without knowing how widespread the virus is in the U.S. population.

 

"No one wants to see this go on a day longer that it has to," said Dr. William Schaffner, a professor of preventive medicine and infectious diseases at the Vanderbilt University School of Medicine. "But at the moment, the emphasis needs to stay on social distancing." The United States is still no where near meeting the demand for tests, so U.S. officials do not fully grasp how many Americans have been infected and where they are concentrated - crucial to containment efforts.

 

Former Republican Senator Bob Corker, who frequently had disagreed with Trump, said he backs the president's desire to resume some economic activity.

 

"We’re going to have, in my opinion, if it continues for long, because of the financial distress that people will have … a month from now, two months from now, three months from now when people are financially devastated, the domestic violence, suicides, deprivation that we’re inflicting upon ourselves," he said.

 

(Reporting by Steve Holland, Jeff Mason, Deena Beasley and Heather Timmons; additional reporting by Susan Heavey, Diane Bartz and Patricia Zengerle; Editing by Dan Grebler and Howard Goller)

 

-- © Copyright Reuters 2020-03-24

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[Puchaiyank]

Trying to strike a balance between protecting people from the virus while not devastating their lives with unmanageable financial burdens as a result of the general shutdown...a daunting task.

 

Tough job.  He will catch flack from the same hateful people who have maligned his Presidency...regardless of what direction he takes.

 

 

[Justgrazing]

The top and that overhangy fringe bit he's got going on at the front look pure syrup of fig ( wig ) .. but that side looks like it might be genuine thatch ..

 

[Cryingdick]

12 minutes ago, Puchaiyank said:

Trying to strike a balance between protecting people from the virus while not devastating their lives with unmanageable financial burdens as a result of the general shutdown...a daunting task.

 

Tough job.  He will catch flack from the same hateful people who have maligned his Presidency...regardless of what direction he takes.

 

 

 

I am for it. If a person is vulnerable they can stay home. If everybody stays home for the next 2 months there will be nothing left. Nobody is forcing anybody to go out and nobody is forced to stay in either. 

[bkk6060]

Yes, I am watching it now.

It appears in 7 days he will open things up again.

Seems mostly about the economic devastation that is taking place.

Still recommending people over 65 possibly stay self quarantine.

Not sure it is the best decision.

So, I guess we will have to see what happens.

 

[misterjames]

head of fema looks like he's gonna cry

 

 

Edited March 23, 2020 by misterjames

[Cryingdick]

2 minutes ago, bkk6060 said:

Yes, I am watching it now.

It appears in 7 days he will open things up again.

Seems mostly about the economic devastation that is taking place.

Still recommending people over 65 possibly stay self quarantine.

Not sure it is the best decision.

So, I guess we will have to see what happens.

 

 

We can't stay home hoping for government checks. The current batch of checks is  a bridge until April what happens in May? Again nobody is forced to go out. I can't see we have any choice. Businesses have it hard now, but once they close they won't simply pop back. 

[GinBoy2]

Thing is.

Trump and the Federal Government don't really have much control on what State Governors and City Mayors do with regard to their local communities.

 

I think a lot of Europeans don't quite understand, that unlike their countries, power is ceded to the Federal Government, not the other way round.

So if the State decides to lock everything down, there is precious little of Trump huffing, puffing and tweeting that can change that.

 

Gavin Newsom locking down California, or indeed my local Mayor in South Dakota closing non essential business' for what they consider the greater public health issue, takes precedent over anything the Fed's might say  

[AlexRich]

16 minutes ago, Cryingdick said:

 

Yes he is really worried about his hotels... don't you ever get tired of writing this tedious tripe?

Nope.

[Thailand]

Economy and a potential depression against a few thousand dead people and an election on the horizon, no brainer.

[Cryingdick]

8 minutes ago, GinBoy2 said:

Thing is.

Trump and the Federal Government don't really have much control on what State Governors and City Mayors do with regard to their local communities.

 

I think a lot of Europeans don't quite understand, that unlike their countries, power is ceded to the Federal Government, not the other way round.

So if the State decides to lock everything down, there is precious little of Trump huffing, puffing and tweeting that can change that.

 

Gavin Newsom locking down California, or indeed my local Mayor in South Dakota closing non essential business' for what they consider the greater public health issue, takes precedent over anything the Fed's might say  

 

Thing is there will be nothing Gavin can do if people choose to ignore his orders especially if the feds stay out of it. 

Edited March 23, 2020 by Cryingdick

[misterjames]

Just now, Thailand said:

Economy and a potential depression against a few thousand dead people and an election on the horizon, no brainer.

Few thousand? are you sure about that?

[Farangwithaplan]

31 minutes ago, Puchaiyank said:

Trying to strike a balance between protecting people from the virus while not devastating their lives with unmanageable financial burdens as a result of the general shutdown...a daunting task.

 

It certainly is. It does help to consider both the financial burden and the protection of people without bringing self image into the equation.

 

33 minutes ago, Puchaiyank said:

 

Tough job.  He will catch flack from the same hateful people who have maligned his Presidency...regardless of what direction he takes.

 

Well let's look at the facts and then decide if 'flack' is warranted.

 

• This is a president that up until just recently told people that this virus would simply go away.
• This is a president that advised people it was still okay for people to go to work with the virus.
• This is a president that almost daily is contradicting his medical experts and putting them in very compromising positions.
• This is a president that has taken it upon himself to tell people that certain drugs can be used to cure the virus. People have now started dying from complications with those drugs because they followed this president's reckless advice.
• This president is still standing still while basic medical needs and products are just not available.

 

That's to name a few. So which of these points are you disagreeing with? Because if you do, I will happily give you first hand video recordings to back my points.

 

I think the 'flack' is warranted from this 'leader'.

 

 

 

[roaming2019]

33 minutes ago, AlexRich said:

Not surprising, his hotels will be emptying, Mar A Lago will be as popular as a leper colony, and who in their right mind would be buying a Trump property.

 

Donny is weighing up self interest and US citizen deaths ... guess whose going to win that battle?

sorry mate but what a nasty thinking you got

[Cryingdick]

1 minute ago, Tug said:

Spot on Alex he has no empathy for others it’s about his legacy and survival all else is secondary that’s why the relief bill is held up in congress the dems are trying to close off the tax payer bailout to guys like trump Boeing the cruse ship industry and make it for the working folks

 

The working folks won't have a place to work if companies don't get aid. What do you propose? Anything constructive? You don't help Boeing Washington State loses a huge amount of tax revenue and jobs. Companies go under and nobody is left to pay taxes. It's funny that people think the government somehow makes money. 

 

The USA is two checks away from bankruptcy if they just give individuals checks. What does Tug do? If you were to rule today what's your plan? Give checks to the working folks that no longer have any place to work and will not have a place to work anytime soon? 

 

Also I love it when people use the word "folks" truly the term a politician calls people.

[Cryingdick]

5 minutes ago, roaming2019 said:

sorry mate but what a nasty thinking you got

 

They make those type of posts over and over like it is something really clever and they should be so proud. 

[Tug]

Just now, Cryingdick said:

 

They make those type of posts over and over like it is something really clever and they should be so proud. 

Just like some posters I know all about making money with no empathy for others lol 

[Cryingdick]

1 minute ago, Tug said:

Just like some posters I know all about making money with no empathy for others lol 

 

Beats sitting around waiting for checks. So what would you actually do? Do you have an opinion or idea with any merit? Tug is president how does Tug play it?

Edited March 23, 2020 by Cryingdick

[AlexRich]

1 minute ago, roaming2019 said:

Here comes the true color .   ????

Eh? Pointless comment.

[Tug]

2 minutes ago, Cryingdick said:

 

Beats sitting around waiting for checks. So what would you actually do? Do you have an opinion or idea with any merit? Tug is president how does Tug play it?

Geese I don’t know the wife and I were busy doing the spring planting in the garden today I wanted to re deck one of my trailers and I have work to do on one of my rentals but you know happy wife happy life that was my day how about yours?

[Cryingdick]

2 minutes ago, Tug said:

Alex ya forgot a few a sexual predator an accused rapist draft dodger coward corrupt his scam charity and scam university bilking contractors and vendors ripping off investors and on and on and on you got him nailed!

 

Aside from that it's his beautiful mind we all know and love. Man you are really obsessed. I actually tried to engage you to give a real opinion on this topic and this is the best you offer.

[Cryingdick]

2 minutes ago, Tug said:

Geese I don’t know the wife and I were busy doing the spring planting in the garden today I wanted to re deck one of my trailers and I have work to do on one of my rentals but you know happy wife happy life that was my day how about yours?

 

Pouring the foundations for my new house, did some light trading. All of that aside what would you do if you had to lead the USA. You are a lot of negativity and criticism but don't ever seem to have a constructive opinion on anything or any genuine insight. Should the USA stay locked down or not? Come on I know there is a smart charming man lurking somewhere under that hardened shell.

 

This could be our Matt Daymon Robin Williams moment. It's not your fault. It's not your fault. 

Edited March 24, 2020 by Cryingdick

[GalaxyMan]

50 minutes ago, Cryingdick said:

Yes he is really worried about his hotels...

The only thing Trump cares about is Trump. He makes that perfectly clear every time he opens his mouth. His only true loyalty is to himself. ????

[sezze]

24 minutes ago, Thailand said:

Economy and a potential depression against a few thousand dead people and an election on the horizon, no brainer.

A few 1000 ... hahah . Forget about it . Italy already got 6000 deaths . Italy being a tiny bit smaller then US . Also , Italy and all others are trying to slow the spread so they can cope . Somewhere else on the forum i already send the picture of the hospital in Spain ( official footage ) , where people lie on the floor in the hallway . Beds finished ... . Brace yourself for more then a few 1000 .

[Cryingdick]

1 minute ago, GalaxyMan said:

The only thing Trump cares about is Trump. He makes that perfectly clear every time he opens his mouth. His only true loyalty is to himself. ????

 

Thanks for making that clear. Now do you have any input of what should be done? Do we close the country or open up? 

[GalaxyMan]

Just now, Cryingdick said:

 

Thanks for making that clear. Now do you have any input of what should be done? Do we close the country or open up? 

I'm all for extreme lockdown and trying to ameliorate the spread, but it's too late for Thailand. The barn's on fire and they let all of the horses run away. And the only reason they allowed it to happen was because of money, tourist money. They just can't see past their wallets. Simply pathetic and ultimately deadly.

[Farangwithaplan]

What part of my posts in this post do you disagree with, UbonThani? Instead of a sad face, why not counter my points with fact? If I am wrong, it shouldn't be difficult to do.

 

[Cryingdick]

1 minute ago, GalaxyMan said:

I'm all for extreme lockdown and trying to ameliorate the spread, but it's too late for Thailand. The barn's on fire and they let all of the horses run away. And the only reason they allowed it to happen was because of money, tourist money. They just can't see past their wallets. Simply pathetic and ultimately deadly.

 

Thanks for a real response. We can use more of that in this sub-forum. In the USA I think we should open up. If we don't we aren't going to have the financial means to help anybody anyway. If we really want to lock down we will have to prioritize who get's treated and people will say that's cold. 

 

 

[GalaxyMan]

1 minute ago, Cryingdick said:

In the USA I think we should open up. If we don't we aren't going to have the financial means to help anybody anyway. If we really want to lock down we will have to prioritize who get's treated and people will say that's cold.

Couldn't disagree more. I'm not the least bit religious, but I do believe that I am my brother's keeper and all that that implies. Putting filthy lucre ahead of a single human life just disgusts me.

[Tug]

What can anyone say the horse is allready out of the gate the best we can do is limit the damage from this latest wound and change leadership to someone who is more forward thinking cares about the population of this country and upholds the oath of office.