COVID-19 and the U.S. Economy

The second installment of the series focused on the U.S. Economy – the current state of affairs, long-term economic damage on small businesses, and the effects of the $2.2 trillion stimulus package. Featured experts Dr. Lawrence Lindsey, CEO of The Lindsey Group, and Drew Maloney, Vice Chair of the Wilson Center’s Board of Trustees and CEO of American Investment Council, helped parse out which sectors will be most affected.

Selected Quotes

Dr. Lawrence Lindsey

“This isn’t just about money. More importantly, it's about health…domestic violence rises, alcoholism rises, drug addiction rises, and suicides rise, during periods when people are unemployed.”

“We're already pushing the envelope as to what you can do before you really begin to create problems. Where our most fundamental problems is, is going to be in the small business sector... about 56% of the workforce works there… If they start shutting down, you are going to start to see holes appear in the economy, and any one business entity is not just the entity, it is a supplier to many, and it is a buyer for many. And once that hole appears, it is very hard to fill.”

“I am of the view that it would be devastating to keep our economy shut - as much as it is shut now - much past the end of April and certainly past the end of May.”

“We should have a reasonably quick rebound… the gains in the 3rd and 4th quarters should wipe out the losses in the 2nd quarter. And we should end the year about where we started the year… Assuming that we do start to re-open at the end of April.”