The spin is in! The Trump administration’s economic ‘message bearers’, Treasury Secretary Steven Mnuchin and Kevin Hasset, the president’s senior economic adviser, have launched a coordinated effort to calm the growing public concern that the current economic contraction due to the COVID-19 pandemic may be as bad (or worse) than the Great Depression of the 1930s.

It can be expected that the COVID-19 virus will have a large negative impact on the standard of living and wages of millions of working class American families. They will have to bear the burden of the cost with little help from their government. Meanwhile, businesses and investors will get bailed out, ‘made whole,’ once again.