NewsColony

It’s Not 9/11 or a Housing Crash. So What’s the Coronavirus Fiscal Playbook? NewsColony The government can’t prevent the coronavirus from damaging the U.S. economy. The usual tools that economic policymakers rely on, like tax cuts and stimulus spending, won’t restore canceled conferences, unclog supply chains or persuade wary consumers to go out to bars and restaurants. Even if such policies would help, they conflict with the advice of health officials who are urging “social distancing” to slow the spread of the virus. But that doesn’t mean policymakers are powerless. Economists say well-designed programs could limit the damage and help ensure a quick rebound. President Trump said Monday that he would meet with congressional leaders to discuss a “very substantial” payroll tax cut and other measures. Many economists are skeptical of that approach, arguing that a payroll tax cut would be too small and too poorly targeted to be of much help. Instead, they recommended a variety o...