Home
/
RELIGION & LIBERTY ONLINE
/
A recipe for economic recovery from COVID-19
A recipe for economic recovery from COVID-19
Jun 24, 2026 7:18 AM

With the focus on COVID-19 shifting from the health emergency (easing) to getting the economy going again (glimmers of hope), it’s easy to forget just how good the economy was before the pandemic hit. Recall that in mid-February, financial news organizations were reporting that the S&P 500 and the Nasdaq Composite indexes were hitting record highs.

In “Getting America Back to Work.” (Encounter Books, 2020), Andy Puzder has drawn a sharp contrast between the eight-year stagnation and regulatory overkill of the Obama administration and what he calls the Trump Economic Boom that followed. Among the many indicators he cites in his 43-page broadside is the National Federation of Independent Business optimism Index, which “blasted off” the day after President Trump’s November 2016 election and remained at historic highs right through February.

“Although massive government interventions that Barack Obama pursued following the Great Recession might presently appear beneficial or even essential, a return to Obama’s ‘new normal’ of stagnant growth would lead to disastrous and persisting economic damage,” he writes. “We must instead return, as soon as is safely possible, to the Trump model of economic prosperity that produced the strongest labor market in modern history.”

Puzder is a senior fellow at the Pepperdine School of Policy and was President Trump’s first nominee for Secretary of Labor. He withdrew the nomination in February 2017. He is the former CEO of CKE Restaurants Inc., pany of, among other fast food restaurants, Carl’s Jr. and Hardee’s.

So how do we get the economy going again? Will this be a short, sharp downturn, or a long agonizing stretch of slow growth and weak employment?

Puzder’s recipe is for more of the same policies that encouraged the “Trump boom” in the first place: regulatory relief, certainty, and tax policies that allow businesses and individuals to keep most of what they earn. That’s not a sure thing given that many on the left are intent on using the economic crisis to permanently expand government reach into the economy and prolong the labor market agony. To back that up, Puzder cites, among others, ment by House Majority Whip James Clyburn, D-S.C., that the coronavirus crisis is “a tremendous opportunity to restructure things to fit our vision.”

What that vision is doesn’t take much guesswork. You just have to listen to the actual words of those not wanting to let the coronavirus crisis go to waste. Here’s the response of Gov. Gavin Newsom, D-Calif., when asked in early April if the crisis was creating the potential for a new progressive era. “Yes,” he answered, “we see this as an opportunity to reshape the way we do business and how we govern.”

But you have to wonder how the Clyburn or Newsom vision could improve on the Trump numbers for those at the low-wage end of the labor market, which were at historic highs before the pandemic overturned the gains. If the dignity of work means anything at all, it has to be within the grasp of those in hourly wage jobs in sectors such as retail, hospitality, manufacturing, construction and the like.

“In 2019, unemployment hit lows not seen since the government began reporting the data for African Americans, Hispanics, Asians and people with only a high school education,” Puzder writes. “For women, the unemployment rate hit a sixty-five-year low and for teenagers (aged 16-19) it hit a fifty year low.”

Economic growth under Trump policies was strong, but what about the trade war with China? Fed economists estimated that the trade disruptions with China may have cost the United States 1 percentage point in growth. Still, under Trump, GDP growth hit 2.9% in 2018 and 2.3% in 2019. Puzder says that under Obama GDP failed to achieve a single year of 3% GDP growth, and only grew at a 1.6% rate in his last year in office.

“The same recipe that produced the strongest labor market in modern history can restore the wealth we lost because of the pandemic,” Puzder predicts. “If government helps people now, as it should, but otherwise gets out of the way and empowers the private sector, the impact of the virus will be a short-term hit from which we will recover rapidly. If the government keeps its heavy hand on the economy, we may never fully recover.”

How we handle this crisis going forward will make all the difference now. And that’s on all of us. “When this crisis ends, the choice will be ours,” Puzder concludes.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
In a pandemic, the poor need global markets more than ever
The coronavirus global pandemic has scrambled everything from economic policy to geopolitics. This disruption has created space for many to reconsider the world’s pre-coronavirus arrangements. Trade and globalization will undoubtedly be on the menu for renegotiation. As the world again considers the extent to which it wants to be interconnected, we must continue to forge a path that connects as many people to markets as possible. It is this arrangement, and this arrangement alone, that has led to the greatest...
La situación del coronavirus en América Latina
Traducido por Joshua Gregor Este artículo se publicó originalmente en . Hasta ahora el coronavirus ha causado menos caos en América Latina que en Europa y los Estados Unidos. Pero incluso si el calor del verano ayuda a erradicar el virus en el hemisferio norte, será casi imposible que el movimiento de personas entre Norteamérica y Sudamérica vuelva a la normalidad si los países latinoamericanos no logran detener el virus. La incertidumbre más grande en Norteamérica es lo qué pasará...
Rev. Sirico: How to heal soul, body and economy after a pandemic
The government-focused debate over how to emerge from the coronavirus shutdowns has been too dismissive of faith and private initiative, says Acton Institute President and Co-founder Rev. Robert A. Sirico in a new radio interview. In a wide-ranging discussion on Respect Life Radio, hosted by Deacon Geoff Bennett, Rev. Sirico began by outlining a wholistic response to the global pandemic. The public square has been dominated by petencies: science, economics, and faith, he says. “The extremes that people can take...
The making and unmaking of European democracy
If there is anything that we have learned over the past five years of political turmoil in Western countries, it is that large numbers of people across the political spectrum are increasingly dissatisfied with the workings of modern democracy. These trends reflect, as numerous surveys illustrate, deep distrust of established political parties and, more particularly, those individuals whose careers amount to a series of revolving doors between elected office, government service, the academy, and politically-connected businesses. What’s often missing from...
We must cure the global pandemic of loneliness
Millions of people within our country are experiencing extreme social isolation and loneliness. In a time defined by a pandemic and lockdowns, one would naturally expect people to feel this way, being cut off from family, friends, and neighbors. In actuality, the coronavirus has just exacerbated an existing pandemic that had been plaguing the United States for many years: a broad cultural trend of increased social isolation and alienation. Long before the coronavirus started, large segments of our society were...
DeVos’ Title IX regulations restore justice to campus
On May 6, Secretary of Education Betsy DeVos unveiled new Title IX regulations concerning sexual harassment and sexual assault on campus. Despite outraged cries of “turning back the clock” that echo across both sides of the Atlantic, the 2,033-page code reasserts the moral, ethical and legal norms that formed the basis of Western society. The prior definition of wrongdoing was so tantalizingly vague as to be infinitely elastic. “Sexual harassment is e conduct of a sexual nature,” said a 2011...
COVID-19 dynamism? New study explores innovation amid crisis
Amid the economic pain and disruption of COVID-19, much public attention has focused on the growing assortment of government interventions—from ever-increasing rules and regulations, to direct economic relief, to a mix of price controls and “stimulus” programs. Yet as governments continue their attempts at stabilizing the situation, we observe many solutions arising elsewhere. Across the economy and society, inventors, entrepreneurs, and workers are continuing to innovate and explore—reimagining their industries and businesses to address new constraints and meet human needs...
Rev. Robert Sirico: COVID-19 lockdown orders are the state-mandated ‘marginalization of religion’
Perhaps nowhere is the disconnect between private citizens’ views and those of the government clearer than when es to the role of religion in society. Acton Institute President and Co-founder Rev. Robert A. Sirico told a nationally syndicated radio program that state orders that effectively ban clergy from caring for sick patients represent “the marginalization of religion as a non-essential service,” and this “flies in the face of our entire history as an American republic.” “Who knows best what is...
What’s behind COVID-19 racial health disparities?
Soon after COVID-19 infection rates began to skyrocket in New York City and other densely populated urban areas, progressives and Democrats demanded data on the racial disparities of testing, treatments, and deaths. The data showed that blacks and Latinos were much more likely to die from the virus than whites and Asians. As expected, progressives moved to explain these disparities in terms of structural, systemic injustice in America’s health care system: Such injustice follows the country’s material and economic inequality....
Acton Line podcast: Rev. Robert Sirico on the church’s response to COVID-19
As the United States continues to wrestle with the fallout of COVID-19, many people are falling back on their faith and the church for peace. Many churches have decided to hold services online, and local governments have also stepped in and put parameters around church attendance to help mitigate the spread of the virus. Some actions taken by local governments have been appropriate, but some others leave us wondering if the government has overstepped. How can we tell the difference...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved