4.6 • 32K Ratings
🗓️ 2 April 2020
⏱️ 53 minutes
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0:00.0 | Well, I think the goal from the beginning was the right one. |
0:04.8 | How do we shore up the economy during a period of shutdown? |
0:09.7 | As you likely know, last week, Congress passed and the President signed the CARES Act |
0:14.2 | that's coronavirus aid, relief, and economic security at a cost of $2 plus trillion. |
0:21.6 | This is not familiar territory for many politicians who normally think about, quote, stimulus |
0:28.0 | packages. Rather, it's an economic, I don't know how you would say, a freeze frame package. |
0:33.8 | What does it take to keep the economy simulating as normal while we work out the health problem? |
0:40.5 | The health problem, as you also know, is that the US has become a global hot zone for |
0:45.6 | COVID-19. |
0:46.6 | Look, the first rule of virus economics is that only by slowing the spread of the virus |
0:53.8 | can you do anything to fix the economics. |
0:57.7 | How well can the economics be fixed? |
1:00.1 | Today on Freakonomics Radio, we try to answer all your questions about the CARES Act with |
1:04.5 | the help of seven guests. |
1:06.8 | They include one US Senator, a Democrat from New Jersey, a former senior adviser to President |
1:12.4 | Trump, and five economists, each of whom has worked in the White House, two under Republicans |
1:17.9 | and three under Democrats. |
1:19.8 | All the economists had crisis experience during their White House tenures. |
1:23.9 | For some, it was the global financial meltdown. |
1:26.8 | The consequences of doing the wrong thing just feel absolutely enormous. |
1:32.5 | For others, it was the 9-11 terrorist attacks. |
1:35.7 | Obviously, it's a human tragedy. |
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