Paul Krugman, arguing that direct Federal intervention this year not only worked, but proved the wrong-headedness of Reaganism:
All this big-government intervention worked. Despite a lockdown that temporarily eliminated 22 million jobs, poverty actually fell while the assistance lasted.
And there was no visible downside. As I’ve already suggested, there was no indication that helping the unemployed deterred workers from taking jobs when they became available. Most notably, the employment surge from April to July, in which nine million Americans went back to work, took place while enhanced benefits were still in effect.
Nor did huge government borrowing have the dire consequences deficit scolds always predict. Interest rates stayed low, while inflation remained quiescent.