For Biden, how to help mangled economy is next 障害

BALTIMORE (AP) - Joe Biden will 相続する a mangled U.S. economy - one that never fully 傷をいやす/和解させるd from the coronavirus and could 苦しむ again as new 感染s are climbing.

The once 強健な 回復 has shown 調印するs of gasping after 連邦の 援助(する) lapsed. Ten million remain 失業 and more layoffs are becoming 永久の. The 連邦の Reserve says factory 生産(高) dropped.

Parents cannot return to work as childcare 中心s have shuttered. Restaurants and 地元の retailers are draining whatever cash reserves are left--with many owners wondering if the next week might be their last. One in six restaurants was already の近くにd in September, によれば an 産業 調査する.

Biden will also be 直面するing an American public with decidedly different 見解(をとる)s about their own 財政上の 井戸/弁護士席-存在, with higher income families 天候ing the pandemic reasonably 井戸/弁護士席 and those 収入 far いっそう少なく in 増加するing 経済的な 危険,危なくする.

It will in some ways be a reprise of when Biden became 副/悪徳行為 大統領,/社長 at the depths of the 財政上の 危機 in 2008-09, with かもしれない より小数の 道具s and いっそう少なく political てこ入れ/借入資本 to 圧力(をかける) an 協議事項 to both corral the ウイルス and stoke 経済成長.

He is 推定する/予想するd to somehow 注入する enough 援助(する) to 支える 労働者s, 商売/仕事s and 明言する/公表する and 地元の 政府s, without やむを得ず having enough congressional partners who 株 his 関心s. All of this could be the difference between a successful 大統領/総裁などの地位 and a floundering one.

FILE - In this Friday, March 27, 2020, file photo, a man walks past the closed Cafe Du Monde restaurant in the French Quarter of New Orleans. President-elect Joe Biden will inherit a mangled U.S. economy, one that never fully healed from the coronavirus and could suffer again as new infections are climbing. 
The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve found that factory output dropped.  (AP Photo/Gerald Herbert, File)

FILE - In this Friday, March 27, 2020, とじ込み/提出する photo, a man walks past the の近くにd Cafe Du Monde restaurant in the French 4半期/4分の1 of New Orleans. 大統領-elect Joe Biden will 相続する a mangled U.S. economy, one that never fully 傷をいやす/和解させるd from the coronavirus and could 苦しむ again as new 感染s are climbing. The once 強健な 回復 has shown 調印するs of gasping after 連邦の 援助(する) lapsed. Ten million remain 失業 and more layoffs are becoming 永久の. The 連邦の Reserve 設立する that factory 生産(高) dropped. (AP Photo/Gerald Herbert, とじ込み/提出する)

It´s 不明瞭な whether his victory was enough to tip the 上院 to the 民主党員s - with two 上院 seat runoffs in Georgia - and 供給する a clearer pathway for the money. This means that any 成果/努力s to 安全な・保証する another 一連の会議、交渉/完成する of 援助(する) may depend on 共和国の/共和党のs who were already 発言する/表明するing 関心s about a rising 予算 赤字 before the 選挙.

上院 大多数 Leader McConnell of Kentucky 以前 said a 手段 should be passed before year-end, but it's unknown in the 影響 of the 選挙 what a 妥協 would look like or whether 大統領 Donald Trump would 支援する it. The longer that 援助(する) gets 延期するd, the greater the 脅し for the economy.

"The 危険 is that the 回復 goes into 逆転する," said Gregory Daco, an 経済学者 for the consultancy Oxford 経済的なs.

AP VoteCast, a 調査する of more than 110,000 投票者s, 設立する that the 後退,不況´s 害(を与える) has mostly struck lower-income 世帯s, though most people were 保護物,者d in large part by 初期の 一連の会議、交渉/完成するs of 援助(する) that nearly totaled $3 一兆.

Twenty-nine パーセント of 投票者s in 世帯s 収入 いっそう少なく than $50,000 毎年 said they´re 落ちるing behind 財政上の ly. Their misfortune is a sharp contrast to what´s happening for those with incomes above $100,000. Not only are higher-earners いっそう少なく likely to be struggling, but 26% said their 財政/金融s are 改善するing.

Biden received more support than Trump from 世帯s 収入 いっそう少なく than $50,000. 投票者s in higher income 世帯s were more closely 分裂(する) between the two 候補者s.

の中で Biden 投票者s, 89% said it was more important to 含む/封じ込める the pandemic than 限界 any 現在進行中の 損失 to the economy. This is likely because they see no 貿易(する)-off: the economy will never 安全に 回復する so long as the 脅し of the coronavirus 存在するs.

"To get the economy under 支配(する)/統制する, you need to get the ウイルス under 支配(する)/統制する," said Amanda Fischer, 政策 director at the Washington 中心 for Equitable Growth, a 自由主義の think 戦車/タンク. "It´s the K-形態/調整d 回復-we see a divide between the wealthiest and everyone else."

The economy was objectively 傷つけるing as 投票(する)s were cast, even if it has 改善するd since April. The 失業率 was 6.9%, compared to 4.7% when Trump took office. 小売 sales slipped 0.8% since the start of 2020, with a 崩壊(する) at restaurants, clothiers and furniture 蓄える/店s.

"The labor market still has a long way to go to 回復する to where it was before the pandemic," said Jed Kolko, 長,指導者 経済学者 at the 職業 地位,任命するing 会社/堅い Indeed. "雇用 is 負かす/撃墜する in almost all 産業s, 劇的な 負かす/撃墜する in 産業s that depend on travel and large 集会s."

The nation's 最高の,を越す public health 公式の/役人s are 警告 that the ウイルス is likely 増大するing - 記録,記録的な/記録する numbers of 事例/患者s have been 報告(する)/憶測d this week - and are beseeching Americans to wear masks, 持続する social distance, and 避ける large groups, 特に indoors. The より悪くするing 病気 could 軍隊 more 商売/仕事s to の近くに.

Still, 43% of 投票者s believed the economy was excellent or good. This 含むs about three-4半期/4分の1s of 投票者s 支援 Trump, who (選挙などの)運動をするd on the idea that the economy was にわか景気ing and would continue to do if he remain ed 大統領,/社長. With Biden in the White House, these once-楽観的な 投票者s may suddenly switch and say the economy is troubled.

"That´s what we saw in 2016 - a 逆転 by party in 経済的な 信用/信任," Kolko said. "It was 劇の and very quick after the 選挙. I wouldn´t be surprised if we saw the same."

Alec Phillips, an 経済学者 at Goldman Sachs, wrote in a 公式文書,認める Wednesday that 支配(する)/統制する of the 上院 will 決定する how much 付加 援助(する) gets 認可するd. He 心配するs 共和国の/共和党の 支配(する)/統制する means a 刺激 一括 under $1 一兆, but a 上院 Democratic 大多数 with Biden in the White House would 押し進める that up to $2.5 一兆 to $3 一兆.

連邦の Reserve Chairman Jerome Powell said at a Thursday news 会議/協議会 that the pace of any 回復 will depend on 認可するing more 援助(する), though he 公式文書,認めるd that the path of the economy will likely mirror the path of the 病気.

"We´ll have a stronger 回復 if we can just get at least some more 会計の support," Powell said.

AP VoteCast 示すs that there is little to no 貯蔵所 of bipartisanship for (手先の)技術ing 政策s to help the country. The 広大な 大多数 of Trump 投票者s, 85%, believe that 汚職 would be a "major problem" in a Biden 大統領/総裁などの地位. Likewise, 92% of Biden 投票者s say 汚職 would be a "major problem" if Trump 安全な・保証するd a second 称する,呼ぶ/期間/用語.

There is also a philosophical divide: Most Biden 投票者s believe the 政府 should do more to solve the nation´s problems, while most Trump 投票者s say the 政府 is already doing too much.

Brian Riedl, a 上級の fellow at the 保守的な Manhattan 学校/設ける for 政策 研究, 見積(る)s that the 民主党員s and 共和国の/共和党のs have about $500 billion 価値(がある) of 株d 優先s for 付加 援助(する). That might leave House (衆議院の)議長 Nancy Pelosi with little choice but to 受託する that sum, if 共和国の/共和党のs 保存する their 上院 大多数.

"共和国の/共和党のs have little 推論する/理由 to budge," he said. "So the question is whether 民主党員s will 受託する a $500 billion 一括 and come 支援する later for more, or continue the 行き詰まらせる."

Part of the challenge is not just the size of any 援助(する) 一括, but whether it helps 明言する/公表する and 地元の 政府s that are 餓死するing for 税金 歳入 and whether it can be passed quickly enough to help the families most in need. Trump has already colored that 審議 by 説 that 民主党員s want to bailout 貧しく managed 明言する/公表するs, a talking point echoed by some 共和国の/共和党のs.

The problem for Biden is that the group he 解除するd up during the 選挙 - the poor and the working class - are the ones who will 耐える the most 苦痛 from any gridlock.

"The U.S. economy is operating at around 80% of total capacity to produce and 消費する," said Joe Brusuelas, 長,指導者 経済学者 at RSM, a 税金 (a)忠告の/(n)警報 and 顧問.

"The U.S. can afford to wait on 付加 会計の 援助(する)," he said, but "the poor and working class are going to 支払う/賃金 a terrible price."

___

AP 投票ing reporter Hannah Fingerhut 与える/捧げるd to this 報告(する)/憶測 from Washington.

A real estate sign hangs in front of a home, Tuesday, Oct. 27, 2020, in Westwood, Mass. President-elect Joe Biden will inherit a mangled U.S. economy, one that never fully healed from the coronavirus and could suffer again as new infections are climbing. The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve found that factory output dropped.  (AP Photo/Steven Senne)

A real 広い地所 調印する hangs in 前線 of a home, Tuesday, Oct. 27, 2020, in Westwood, 集まり. 大統領-elect Joe Biden will 相続する a mangled U.S. economy, one that never fully 傷をいやす/和解させるd from the coronavirus and could 苦しむ again as new 感染s are climbing. The once 強健な 回復 has shown 調印するs of gasping after 連邦の 援助(する) lapsed. Ten million remain 失業 and more layoffs are becoming 永久の. The 連邦の Reserve 設立する that factory 生産(高) dropped. (AP Photo/Steven Senne)

FILE - In this Oct. 6, 2020, file photo, city worker Randy Greice, foreground, unloads a pallet of food at a food distribution event in Opa-locka, Fla. President-elect Joe Biden will inherit a mangled U.S. economy, one that never fully healed from the coronavirus and could suffer again as new infections are climbing. The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve found that factory output dropped. (AP Photo/Wilfredo Lee, File)

FILE - In this Oct. 6, 2020, とじ込み/提出する photo, city 労働者 Randy Greice, foreground, 荷を降ろすs a pallet of food at a food 配当 event in Opa-locka, Fla. 大統領-elect Joe Biden will 相続する a mangled U.S. economy, one that never fully 傷をいやす/和解させるd from the coronavirus and could 苦しむ again as new 感染s are climbing. The once 強健な 回復 has shown 調印するs of gasping after 連邦の 援助(する) lapsed. Ten million remain 失業 and more layoffs are becoming 永久の. The 連邦の Reserve 設立する that factory 生産(高) dropped. (AP Photo/Wilfredo 物陰/風下, とじ込み/提出する)

FILE - In this Oct. 1, 2020, file photo, a woman walks past a personal finance loan office in Franklin, Tenn. Pres
ident-elect Joe Biden will inherit a mangled U.S. economy, one that never fully healed from the coronavirus and could suffer again as new infections are climbing. The once robust recovery has shown signs of gasping after federal aid lapsed. Ten million remain jobless and more layoffs are becoming permanent. The Federal Reserve found that factory output dropped. (AP Photo/Mark Humphrey, File)

FILE - In this Oct. 1, 2020, とじ込み/提出する photo, a woman walks past a personal 財政/金融 貸付金 office in Franklin, Tenn. 大統領-elect Joe Biden will 相続する a mangled U.S. economy, one that never fully 傷をいやす/和解させるd from the coronavirus and could 苦しむ again as new 感染s are climbing. The once 強健な 回復 has shown 調印するs of gasping after 連邦の 援助(する) lapsed. Ten million remain 失業 and more layoffs are becoming 永久の. The 連邦の Reserve 設立する that factory 生産(高) dropped. (AP Photo/示す Humphrey, とじ込み/提出する)

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