Clear. 51.9   F New York
AI-Powered News Summarizer
Top Stories

Opinion: Why the US economy won't gain any traction until 2021

October 21, 2020. Summarized by summa-bot.

WASHINGTON, DC - OCTOBER 20: A pedestrian walks past the U.S. Capitol on October 20, 2020 in Washington, DC. Senate Republicans are looking to hold a confirmation vote for Supreme Court nominee Amy Coney Barrett on Monday, October 26, approximately one week before the Presidential election.(Photo by Stefani Reynolds/Getty Images)

This has been a rotten year, and any chance of it ending on a high note has faded. The Covid-19 pandemic is intensifying, rancor over the US presidential election is mounting, and lawmakers haven't come to terms on another fiscal rescue package to shore up the fragile economy. It is difficult to see how the economy will be able to gain any traction until next year when the pandemic and election are hopefully in the history books.

The Covid-19 pandemic is intensifying, rancor over the US presidential election is mounting, and lawmakers haven't come to terms on another fiscal rescue package to shore up the fragile economy.

It is difficult to see how the economy will be able to gain any traction until next year when the pandemic and election are hopefully in the history books.

There is a clear relationship between the health care crisis created by the pandemic and the economic crisis: More infections result in a weaker economy.

Europe had meaningfully brought down infections with its stringent lockdowns early on in the pandemic, and its economy had begun a strong comeback in the summer, but that recovery looks to be flagging with the re-intensifying pandemic.

However, our election model of the state Electoral College, which takes into account a range of political factors, including previous state voting patterns and the President's approval rating, and a range of economic factors, such as unemployment, housing and stock prices, suggests the results will be much closer.

But perhaps the most serious blow to the economy as this monumental year ends will be the failure of President Trump and Congress to come to terms on providing more help to those hit hardest by the pandemic.

Summarizer is on Google News. Now you can get the latest AI summarized news on your favorite news platform.

Don't like Google News? We have an RSS Feed for you.

Suggestions