Trump is culpable for impacts of coronavirus
By Neil Baron, opinion contributor — 03/13/20 11:30 AM EDT
Donald Trump’s mishandling of the coronavirus has shattered his favorite argument for getting reelected: the strong economy and buoyant stock market. The payroll tax cut he floated on Monday and the tax filing deadline extension he floated Wednesday won’t repair the virus’s economic damage —nor will it obscure his culpability for recklessly cutting health funding and trying to downplay the risks.
Even before Trump's dismal performance in this week's Oval Office address rattled markets and sowed confusion and chaos, he had already contributed to strangling the bull market by sowing uncertainty. He repeatedly contradicted his public health officials about the virus’s reach in the U.S. His administration missed the bulk of U.S. cases, leaving us without an accurate estimate of how far the virus had spread. That made it impossible to gauge how aggressive we should be in taking precautions. So many people and companies are acting out of an abundance of caution, which itself fuels economic contraction.
Trump depended on the stock market as a reason for voters to support him. So he sent National Economic Council Director Larry Kudlow to CNBC to restore confidence in stock values. Kudlow told investors “Stocks look pretty cheap to me,†and the markets “have gone too far.â€
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https://thehill.com/opinion/white-house/487401-trump-is-culpable-for-impacts-of-coronavirus