Economic recovery from coronavirus is a ‘long way away,’ Joe Biden says

Former Vice President Joe Biden said Friday that an economic recovery from the coronavirus pandemic looks “a long way away.” 

In an interview with CNBC’s “Squawk Box,” the apparent Democratic presidential nominee criticized the 2017 Republican tax cuts and questioned what the U.S. could use the lost revenue for as it tries to lift a devastated economy. More than 38 million people have filed jobless claims since states started widespread lockdowns to slow the virus, and GDP is expected to go into freefall in the second quarter. 

“Imagine if we had that $2 trillion now as we go into, God willing, a recovery which is a long way away as I see it right now,” Biden told CNBC’s Andrew Ross Sorkin in describing his proposals to raise capital gains taxes and roll back the GOP plan. 

He criticized President Donald Trump for a pandemic response that he argued has “cost lives” and “cost jobs.” As the president and many of his GOP allies push to restart businesses now to boost growth, Biden said “the way to fix the economy is get the public health response correct.” 

Trump’s rival in the 2020 election condemned the president’s GOP party for its reluctance to send more relief money to state and local governments, some of which could struggle to pay first responders or teachers as they face budget crunches. 

Article source: https://www.cnbc.com/2020/05/22/economic-recovery-from-coronavirus-is-a-long-way-away-joe-biden-says.html