Home
/
RELIGION & LIBERTY ONLINE
/
A recipe for economic recovery from COVID-19
A recipe for economic recovery from COVID-19
Dec 30, 2025 3:17 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
Economic Freedom Isn’t Enough
We know that, for economies to thrive, people must be free to start their own businesses without taxing regulations, that free trade must be the de facto means of doing business, and that cronyism and corruption must be eradicated. But that’s not enough. At the Institute for Faith, Work & Economics, blogger (and former Acton intern) Elise Amyx says we have to have human flourishing as well. Economic freedom is only ponent of human flourishing. We should think about it...
Florist Chooses Conscience Over Settlement
Last year Washington State’s Attorney General sued Arlene’s Flowers & Gifts on the basis of consumer protection. Florist Barronelle Stutzman had refused to sell flowers to a long time customer when the arrangements were to be used for a same-sex marriage ceremony. Although Stutzman did not have any qualms about serving serving gay customers, she “didn’t want to be involved in a same-sex marriage.” “I just put my hands on his and told [the customer who made the request] because...
First Comprehensive Health Study Of Trafficking Victims Reveals Complex Needs
The London School of Hygiene and Tropical Medicine and the International Organization for Migration has just published the prehensive study regarding the health of human trafficking victims. The study, which looked at men, women and children, reveals that victims of both labor and sex trafficking have severe plex health concerns. The study was carried out in Cambodia, Thailand and Vietnam, working with people who had been rescued and were entering programs for victims of human trafficking. Researchers asked participants about...
Does Innovation Triumph Over Regulation?
Do government regulations squelch marketplace innovation? A new study from the U.S. Census Bureau’s Nathan Goldschlag and George Mason University’s Alex Tabarrok says, “Not really.” According to Ryan Young at the Competitive Enterprise Institute: …the underlying institutions of social cooperation, market exchange, and dynamism are strong enough that federal regulation has, according to Goldschlag and Tabarrok’s analysis, so far been unable to squelch them. Just as a balloon pressed on one end pushes air to the other end, people will...
Marie Harf May Have Stumbled Into Something
I do not believe Marie Harf is an eloquent speaker, but I did think her “jobs for ISIS” remarks made some sense. We know that in American cities, for instance, if young men do not have education and jobs, they get into mischief. The kind of mischief that includes gangs and drugs and violence. Why would we expect that young men in Libya, Iraq, and elsewhere would be any different? Apparently, I’m not the only one. While others have sneered...
Radically Communitarian Islam
Graeme Wood’s excellent piece in The Atlantic has justly been making the rounds for the past week or so. It is well worth reading with a number of insights and points that strike at the heart of the contemporary conflict between modernity and religious violence. mend “What ISIS Really Wants” to your reading. (Rasha al Aqeedi’s “Caliphatalism,” which looks more closely at the situation in Mosul, makes a panion read.) One of the elements of Wood’s piece that stuck out...
What Patricia Arquette Should Have Said About the Wage Gap and Women’s Rights
During last night’s Oscar ceremony, Best Supporting Actresswinner Patricia Arquette used her acceptance speech to rail against unfair pay for women: To every women who gave birth to every taxpayer and citizen of this nation, we have fought for everybody else’s equal rights. It’s our time … to have wage equality once and for all and equal rights for women in the United States of America. The wage equality that Arquette is referring to is the gender wage gap—the difference...
How Anti-Catholic Bias From 140 Years Ago Affects Our Religious Freedom Today
Eleven years ago this week, the Supreme Court handed down a ruling in Locke v. Davey that continues to have a detrimental impact on religious liberty. But the seeds for that ruling were planted 140 years ago, in another attempt to curb religious liberty. When James Blaine introduced his ill-fated constitutional amendment in 1875, he probably never would have imagined the unintended consequences it would have over a hundred years later. Blaine wanted to prohibit the use of state funds...
Death And Redemption In Ukraine
Bohdan Solchanyk was not a materialistic young man. He did not seek worldly pleasures, but rather took delight in his studies, his fiancee, his faith. What Bohdan wanted -what they both wanted – was live in the Ukraine with dignity and freedom. Bohdan’s dream died last week at a peaceful protest against the government, where he and 80 others were “brutally shot and killed by government snipers in the central square of the capital of Ukraine, as the world’s TV...
Religious Activists Push Back Against ‘Blunt Instrument’ of Fossil Fuels Divestment
Your faithful correspondent last week exposed the fossil-fuel divestment endgame of religious shareholder activists. As You Sow President Danielle Fugere sees her group’s activities as awareness-raising exercises for climate change, but AYS’s alignment with environmentalist and divestment firebrand Naomi Klein suggests they’d settle for nothing less than nationalizing panies. This week, I’m happy to report another group frequently called to task in this space, the Interfaith Center on Corporate Responsibility, opposes the AYS divestment onslaught. Reporting in last week’s Wall...
Related Classification
Copyright 2023-2025 - www.mreligion.com All Rights Reserved