Home
/
RELIGION & LIBERTY ONLINE
/
A recipe for economic recovery from COVID-19
A recipe for economic recovery from COVID-19
Dec 29, 2025 5:22 PM

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
Lebanon’s Grand Mufti on Islamic Reformation, Clash of Civilizations
Abdel-Latif DerianJoe Carter put up a very good clarifying post on Wednesday about Western politicians and religious leaders envisioning a moderate Islam that might follow the template of the Protestant Reformation. In “Let’s Stop Asking Islam to Be Christian,” Carter wrote that what Western elites really want is for Muslims “to be like liberal mainline Christianity: all the trappings of the faith without all that pesky doctrine that might stir up trouble.” Indeed, Christians and Muslims hold radically different notions...
Fossil Fuels: The Best Hope for the World’s Poor
Writing for The Federalist blog last week, American Energy Alliance Vice President of Strategic Initiatives Dan Ziegler remarked: The environment isn’t getting worse—it’s rapidly improving, even as our economy grows and our energy use increases. The EPA recently released new data on air quality showing that total emissions of the six major air pollutants have dropped by 68 percent since 1970. This is all the more impressive considering that during this same period, America’s population has grown by 54 percent,...
Indiana’s Religious Freedom Restoration Act: What’s The Deal?
Last week, Indiana Governor Mike Pence (R) signed his state’s Religious Freedom Restoration Act. Social media went a bit, well, bonkers. Hillary Clinton tweeted, “Sad this new Indiana law can happen in America today. We shouldn’t discriminate against ppl bc of who they love #LGBT.” The CEO of SalesForce, headquartered in Indiana, says they will pull out. Tim Cook, the chief executive of Apple, has called religious freedom laws “dangerous” and likens them to Jim Crow laws. What’s all of...
7 (More) Essential Articles on Religious Freedom Restoration Acts
There is something about Indiana’s new religious freedom protection law that is causing otherwise reasonable people to lose their minds. As Elise Hilton pointed out earlier today, everyone from presumptive presidential candidates (Hillary Clinton) to corporate CEOS (Apple’s Tim Cook) to your ill-informedfriends on social media have been claiming the law allows discrimination against homosexuals. It does not. (In most parts of the country, discrimination based on sexual orientation is legal—and always has been.) Elise produced a helpful explainer with...
Audio: Samuel Gregg on God, Reason, and Our Civilizational Crisis
On Friday Afternoon, Acton’s Director of Research Samuel Gregg joined hostSheila Liaugminas on Relevant Radio’sA Closer Look to discuss his recent article at the Public Discourse entitledGod, Reason, and Our Civilizational Crisis. They discuss how differences between how societies view the divine will often cause tension and conflict between, and even within, cultures. The full interview is available via the audio player below. ...
Bob Geldof: Trade Not Aid for Ethiopia
Good story in the Wall Street Journal today about rocker-activist Bob Geldof and how he’s spearheading a push by private-equity firms into Ethiopia to effect a “historic shift from aid to trade.” Investments are flowing into private sector projects such as a flower farm, a pany, pipeline building modity exchanges. A number of high-profile investors have recently shown up here. KKR & Co., the New York-based private-equity firm, last summer bought control of a rose farm, Afriflora, for about $200...
Local Government Can Be Big Government Too
Small-government conservatives often share a regrettable trait with their big-government liberal opponents: they frame the issue almost exclusively in terms of the size and scope of the federal government. Although conservatives sometimes expand their view and include state governments, the focus tends to miss the local governments, city and county municipalities, that can have a considerable impact on an individual’s life. But in Texas they’re beginning to take notice—and are doing something about it: Texas Gov. Greg Abbott, a Republican,...
The Smile Curve and the Future of the Middle Class
The smile curveis an idea came from puter industry, but it applies broadly. It’s a recognition, in graph form, that there is good money to be made (or more value to be added) in research and development, and, at the other end, in marketing and retailing. It’s also a recognition that there is almost no profit to be made, except in high volumes, in the middle areas of manufacturing (assembly or shipping). This has hurt the American middle class because...
G.I. Joe Vs. the Pentagon’s Crony Industrial Complex
When es to spending on national defensethe political debate is oftenpresented as a simplistic, binary contest between those who want to spend more and more (often conservatives, who want a strong military) and those who want to spend less and less (often liberals, who want to use the money for social welfare purposes).While those discussions are important, they are also plete. Conservatives, inparticular, should be more cognizant of the way cronyism can undercut military readiness. In an article today atThe...
Women Of Liberty: Mercy Otis Warren
It is not often that women of the American Revolutionary War era are described as “formidable” and “intellectual,” but Mercy Otis Warren is such a woman. Born to wealthy Cape Cod family in 1728, Warren received no formal education but was tutored by her uncle. In 1754, she married James Warren, who became a Massachusetts state senator. It was the murder of her brother at the hands of colonial revenue officers that drove Warren to political writings and action. Combining...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved