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The Political Scene | The New Yorker

Can Trump Avoid a Post-Coronavirus Great Depression?

The Political Scene | The New Yorker

The New Yorker

President, Barack, News, Politics, Wnyc, Obama, Lizza, Washington, Wickenden

4.33.9K Ratings

🗓️ 9 April 2020

⏱️ 24 minutes

🧾️ Download transcript

Summary

Two weeks ago, Congress passed a two-trillion-dollar stimulus bill aimed at mitigating the damage the coronavirus is doing to the American economy. With the stock market flagging and unemployment reaching historic highs, further government intervention will almost certainly be needed to stave off financial devastation. But even as COVID-19 cases quickly rise around the country, President Trump says that business should return to normal this spring. John Cassidy joins Dorothy Wickenden to discuss the dangers of Trumponomics, lessons from other nations about how to respond to pandemics, and how to put American back to work without precipitating a rebound of the virus.

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Transcript

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0:00.0

Hi there, I'm Lale Arikoglu, and this podcast is brought to you by Wilderness, a conservation-driven

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hospitality company that offers intimate world life encounters in extraordinary remote landscapes.

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Last year, I embarked on two separate solo adventures with Wilderness, one to Botswana and the other

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to Namibia, where the expert guides delivered a truly once-in-a-lifetime

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experience. I promise you, whatever you watch and see before you go won't prepare you for the thrill

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of a wilderness adventure. eBay, it's a place to fall in love with new pre-loved vintage and rare

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fashion over and over again.

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Your favorite designers, expertly authenticated.

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Yeah, eBay.

0:44.0

Things people love.

0:48.3

This is the political scene, a weekly conversation with New Yorker writers and guests about politics.

0:54.4

It's Thursday, April 9th.

0:56.4

I'm Dorothy Wickenden, executive editor of The New Yorker.

1:00.1

Two weeks ago, Congress passed the biggest stimulus bill in American history

1:04.7

to address the devastation the coronavirus is bringing to workers and the economy.

1:10.4

It will send $2 trillion to the unemployed businesses and medical providers.

1:16.1

Despite the size of the bill, economists and infectious disease specialists mostly agreed

1:21.7

that it is not enough.

1:23.5

And members of Congress are discussing a second bill that would authorize another $250 billion

1:28.9

in aid to small businesses. The administration, though, continues to push to reopen the economy

1:35.6

as soon as possible. Larry Kudlow, Trump's most publicly accessible economic advisor,

1:42.4

told Politico this week that it could be as soon as the next four to

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