The economic crisis sparked by the COVID-19 pandemic has exposed deep structural flaws in our economy and society. We need large-scale government intervention to stabilize the economy and put us on a long-term path to resiliency and broadly shared prosperity.
- The crisis has laid bare that decades of rampant inequality, attacks on public institutions, and blind faith in markets to solve public problems has left our workers, families, and economy deeply vulnerable.
- This crisis is acute in part because millions of individuals lack good jobs and adequate health care and child care—especially the Black and brown women who are filling what are only now recognized as essential roles in our economy—and because government agencies tasked with pulling people from the brink are operating on threadbare budgets.
- Decades of misguided focus on the deficit and debt played a major role in making our economy susceptible to this crisis, and a continued focus will only lengthen and deepen the severity of the crisis.