Elections 2020

In first presidential debate, what will we hear about the economy?

Justin Ho Sep 28, 2020
Heard on: Marketplace Morning Report
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Alex Wong, Win McNamee/Getty Images
Elections 2020

In first presidential debate, what will we hear about the economy?

Justin Ho Sep 28, 2020
Alex Wong, Win McNamee/Getty Images
HTML EMBED:
COPY

The U.S. economy is among the six topics selected for the first presidential debate tomorrow night in Cleveland, Ohio.

When it comes to the economic response to the COVID-19 pandemic President Trump and his Democratic opponent former Vice President Joe Biden are likely to agree on the basics.

“It’s hard to disagree that we need aid from the federal government,” said Frank Caliendo, academic director of the Center for Growth and Opportunity at Utah State University.

The two parties differ on extending the government’s enhanced unemployment insurance benefits, which expired in August.

“There seems to be some agreement that some enhanced benefit should be put back into place, but how much, I think, could be a point of disagreement,” said Josh Bivens, research director with the Economic Policy Institute.

Also contentious is whether the government should provide more aid to state and local governments.

Bivens said that’s where the stakes are high. “If state and local governments really do start cutting in serious earnest, that’s going to be a really big drag on recovery,” he said.

Bivens said the two candidates are actually likely to spar most on the pre-COVID economy, tax reform, Social Security and protections for people with preexisting conditions.

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