The second-quarter gross domestic product report issued Thursday showing the U.S. economy shrank by 9.5 percent from April through June wasn’t pretty.
But while it’s no surprise that the coronavirus pandemic has hurt the economies of virtually every nation in the world, our economy is now on the rebound and the damage it suffered was not nearly as bad as it could have been.
Let’s start with an important fact: the economic shutdown in the U.S. was bipartisan, just as shutdowns around the world had the support of multiple political parties.The coronavirus originated in China and spread to every corner of the globe without regard to which political parties were in power.