Varney: Economy can’t take a second coronavirus shutdown
US can’t expand rapidly with restrictions on economic activity
FOX Business’ Stuart Varney argues America should not implement a total shutdown again despite an increase in cases due to the possible negative economic impacts a second lockdown could cause. Then, FOX Business’ Charles Payne joins to weigh in on the subject.
FOX Business’ Stuart Varney, in his latest “My Take,” argues America should not implement a second nationwide lockdown.
“It sure looks like a second wave," Varney said. "We can argue all day long about whether it’s a spike in new cases or a surge, or a 'serious' increase'. But the fact is, the number of new cases is going up, especially in some of the states that started to reopen.”
Varney pointed to governors in Texas, Florida and California who have imposed some restrictions again.
“Miami closes the beaches for the July 4 weekend,” Varney noted. “Sec. Azar says the window is closing to curb the surge.”
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A restaurant advertises a re-opening Saturday, June 27, 2020, in Huntington Beach, Calif. (AP Photo/Marcio Jose Sanchez)
Varney asked, should we have a second lockdown at the state or national level?
“In my opinion, no,” he said. “Quite simply, the economy couldn't take it. Nor could all those people who have been locked in with abusive relationships. And all those people denied life-saving medical tests and elective surgery. We can't go back to that.”
Varney noted how President Trump is reacting to this new “wave.”
“The president says no new national lockdown. Instead, put out the fires at the local level,” Varney said. “That’s what the bar and beach closings are all about. Wear masks, keep your distance, wash your hands. That’s the policy. Contain the outbreaks. Limit the spread.”
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Visitors crowd the beach Saturday, June 27, 2020, in Huntington Beach, Calif. (AP Photo/Marcio Jose Sanchez)
Young people will have trouble sticking to the rules during the summer, Varney believes.
“They've already missed college and high school graduation ceremonies,” he said. “It will not be easy to get them off the beach and out of the bar.”
Varney said the economy will take a hit from these new rules.
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“There will be some impact on the pace of the economic recovery,” he said. “You can't expand rapidly if there are still restrictions on economic activity. The virus will not go away completely any time soon. There are going to be local outbreaks. There will be local shutdowns. That’s the way it is. That’s what we have to live with.”
Varney said under no circumstances should America shut down again.
“Once was enough,” he said.
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