The U.S. economy is on the verge of a 'lost year'
Workers and business owners are craving some certainty about the path forward. But the White House and Congress are failing to act.
Brian Hartman has spent a lot of time this summer pacing his restaurant, Bixlers Lodge in Reading, Pa., with a tape measure. Whatever way he places it, he comes to the same conclusion: He cant safely fit any more tables inside his small eatery.
Bixlers Lodge is doing less than a third of its pre-pandemic business. The bar that Hartman spent years perfecting is now empty. The dining room has six tables, down from 15. Hes tried to become a takeout spot, but customers know its not the same. Hartman lives in constant fear that even this limping existence will be shuttered again.
Right now you cant plan more than a week ahead, Hartman, who has run Bixlers Lodge for three decades, said. You dont know if they will close you back up or if you will stay open or what.
The U.S. economy is facing one of its most uncertain moments ever as the deadly coronavirus remains a constant threat. According to Pew Research, people are growing more pessimistic about how Americas leaders have handled the virus and the nations ability to contain it, which only digs a deeper hole for the economy. As soon as the virus flares in a part of the country, cellphone data show people immediately stay home instead of instead of venturing out to restaurants, stores and entertainment.
https://www.washingtonpost.com/business/2020/08/07/us-economy-is-verge-lost-year/