For Biden, how to help mangled economy is next obstacle
BALTIMORE (AP) — Joe Biden will inherit a mangled U.S. economy — one that never fully healed from the coronavirus and could suffer again as new infections are climbing.
The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve says factory output dropped.
Parents cannot return to work as childcare centers have shuttered. Restaurants and local retailers are draining whatever cash reserves are left--with many owners wondering if the next week might be their last. One in six restaurants was already closed in September, according to an industry survey.
Biden will also be facing an American public with decidedly different views about their own financial well-being, with higher income families weathering the pandemic reasonably well and those earning far less in increasing economic peril.
https://apnews.com/article/joe-biden-technology-pandemics-virus-outbreak-financial-markets-ea99dbedb22ae7818c241ce52d0974b0
