I Don't Think They'll Notice

Goldman Sachs projecting a 🚨24% decline🚨 in second-quarter GDP.
"Nearly two-and-a-half times the size of the largest quarterly decline in the history of the modern GDP statistics”

— Steven Dennis (@StevenTDennis) March 20, 2020

Oh, they might.

“Trump allies say that, for the time being at least, his reelection hopes hinge almost entirely on his ability to manage the crisis,” said the report. “While they acknowledge his initial response was lacking and that the virus poses a mortal threat to his 2020 prospects, they foresee a possible silver lining. If the virus passes and businesses and schools reopen before the election, they say, the president could present himself as the protagonist in an American comeback story.”

So, just how long "before" the election does this "recovery" have to happen?  If the virus just "goes away" before October, is that good enough?  Fauci says we need to settle in for a long time of self-quarantine:

“If you look at the trajectory of the curves of outbreaks in other areas, it’s at least going to be several weeks,” Fauci told NBC “Today Show” host Savannah Guthrie.

“I cannot see that all of a sudden, next week or two weeks from now, it’s going to be over,” he continued. “I don’t think there’s a chance of that. I think it’s going to be several weeks.” 

That extends the GDP decline into the 3rd quarter, at least.  And the economy is rather like the stock market; even if it has the "greatest rise in history," that sudden gain doesn't replace losses.  Gains take time; losses can be immediate, and the damage long-lasting.  And even $1200 per person won't be enough to stave off that kind of fall-off in the economy:

The four points of the plan are:
1. Direct relief for families, including checks of as much as $1200 for individuals; $2400 for couples.
2. assistance for small businesses & their employees.
3, steps to stabilize the economy
4 more support for patients, health professionals.

— Sheryl Gay Stolberg (@SherylNYT) March 19, 2020

And guess who's gonna be blamed?  Damned near everybody in authority right now.