This is contrary to the views of most economists, including myself. The numbers in June, and likely July, were positive because of the massive dose of economic adrenaline the Fed pumped into the stock market and Congress injected into main street, resulting in much of the deficit the author laments. There are no more Fed infusions happening now, and the stimulus has stopped. The houses are fighting, but if they come up with another stimulus it will continue the false propping up of the economy, and it will continue to slog along based on false support. But eventually this will end, spending will slow, and the recession will deepen.

Furthermore, this event has changed the economy. Thousands of mom-and-pop businesses will be gone forever. The big box stores will make up some of the slack, and that could bolster the GDP, but it will also exacerbate the growing income and wealth inequality, so any post-Covid rebound is going to boost the uber-riche, but will not help the average American.