Paul Krugman: Trump's Executive Orders Are The Hydroxychloroquine Of Economic Policy
Nobel Prize-winning economist Paul Krugman is so unimpressed with President Donald Trump’s latest efforts to boost the economy amid the coronavirus crisis that he has declared it to be the hydroxychloroquine of economic policy.
The four executive actions Trump signed on Saturday included deferring payroll taxes — which fund Social Security and Medicare — from Sept. 1 until the end of the year for workers earning less than $100,000 annually. Trump also warned that he might terminate the tax if he’s reelected, which would kill the longstanding social service programs.
Deferring payroll taxes was such a “known bad idea” that it had already been dismissed by the GOP in the Senate, Krugman explained on CNN Sunday.
“Even Senate Republicans basically said, ‘Let’s forget about that. That’s a really stupid idea.’ And then Trump comes out with it,” Krugman said.
https://www.yahoo.com/huffpost/paul-krugman-donald-trump-hydroxychloroquine-covid-19-economic-aid-073028132.html