The Coronavirus Will Hit The U.S. Service Economy Harder Than China’s Agricultural-Based Economy

Congress asked the U.S. Court of Appeals for the D.C. Circuit to rehear the McGahn case after another appeals court ruled in favor of the president. That court told Congress the courts shouldn’t settle the fight between Congress and the president. The 2-1 decision said Congress has other ways to get McGahn to talk. They can arrest McGahn, or they can’t shut down the government until Trump gives in.

Those options didn’t make sense, so the case is still up in the air. Congress and presidents clashed before this president decided to ignore subpoenas and withhold documents. In those cases, Congress won. But thanks to Mitch McConnell and the president, conservative judges play a pivotal role in helping Mr. Trump keep his questionable decisions under wraps, according to the New York Times.

Mr. Trump’s tax cases will hit the Supreme Court docket on March 31st. The conservative majority on that court could also give the president a pass, even though Congress was able to get Jimmy Carter’s and Richard Nixon’s tax returns. If the Supreme Court rules in Trump’s favor, several legal experts fear the judicial system will lose credibility, and the Rule of Law will have no meaning.

Mike Pence tried to clean up the president’s comments about the coronavirus outbreak. People across the United States wonder why there are not enough test kits available, even though the president told the press there are enough test kits to test everyone who needs a test. Pence claims there are not enough kits in the pipeline, but by the end of next week or the week after, the CDC will have the situation under control.

The messages coming from Pence and Trump don’t help the eroding economy, according to economists. Gross Domestic Product growth will take a huge hit in the first quarter. The U.S. economy could take a bigger hit than China’s economy in the long run, according to Business Insider.

The U.S. economy thrives on consumer spending and the service market, and both sectors face a major coronavirus beating. China’s economy thrives on agriculture and manufacturing. Those sectors should bounce back quickly when the coronavirus threat ends, according to Chinese news reports.

The airline industry and cruise ship industry, as well as consumer spending, are prime coronavirus targets. Once those industries go South, it might take more quantitative easing from the Feds to bring them back to life, according to former Fed member Sheila Bair. Bair thinks interest rate cuts alone won’t stimulate the economy enough to keep a recession away.

Dil Bole Oberoi