How to Get the Post-Election Economy Back to Full Strength
If you think the election is tough to sort out, wait until Congress turns to fixing the economy. Donald Trump ran with a pledge of a quick bounce back from the pandemic-wounded economy, but Joseph Biden, the declared winner, may be able to manage only a long slog of a recovery. To get back faster, an infrastructure finance program should be among the first stimulus ideas taken up. Combined with public health initiatives that keep as much of the economy open as possible, this kind of stimulus could go a long way to relieve fears that hinder confidence and imperil a broad recovery.
Some categories of businesses—aviation, hotels, restaurants, amusement parks and higher education—and jobs are unlikely to quickly return to prior levels. We don’t know yet the future of office buildings or when the commuter transportation systems will pack in riders the way they did before the coronavirus pandemic.