Varney: Coronavirus lockdown ‘economic pain' gets worse by the day
'The economy at a standstill. We are in the depths... we have to climb out and quickly.”
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FOX Business’ Stuart Varney, in his latest “My Take,” argues that as lockdowns continue, the economic pain and hidden costs of coronavirus become more clear.
“You've seen the numbers: 30 million suddenly unemployed. Whole industries crashing,” Varney said. “The economy at a standstill. We are in the depths. When it’s this bad, surely, we have to climb out and quickly.”
VARNEY: REOPENING ECONOMY PUTS CORONAVIRUS LOCKDOWN ORDERS TO THE TEST
Varney believes there have been some optimistic headlines regarding reopening the country.
“In California today, some retailers can open, with curbside pickup. Well, it’s a start!” he said. “Gov. Newsom may have been pushed into it by the open revolt of some retailers who told him point-blank: if we can't open, we're bankrupt. Even California has to deal with that.”
Varney also noted that Dallas salon owner Shelley Luther is out of jail after being sentenced for reopening her business despite lockdown rules.
“She was hauled into court,” he said. “Refused to apologize and was sentenced to jail. Uproar! And rightly so!”
Luther, Varney added, is a "clear example" of lockdown orders leading to bankruptcy.
“Luther stands for economic sanity, and she's getting a lot of support,” he added. “Her GoFundMe account took in $500,105 in a matter of hours and has now stopped taking donations!”
Varney believes Democrat-run states with large populations have been "dragging their feet" in the opening-up process.
“Back to work is on the backburner,” he said. “Understandable, perhaps, because states like New York and New Jersey have the most cases. But they too will face heavy pressure from businesses desperate to stay in business.”
VARNEY: CORONAVIRUS LOCKDOWN 'DEFIANCE' IS IN THE AIR
Varney added that lockdowns cause issues beyond just financial ones.
“There are the hidden costs of the lockdown: child abuse, domestic violence, alcoholism, drug addiction,” he said. “These are serious problems which get worse the longer the lockdown goes on. Financial stress gets worse the longer you're off the job. Your medical condition is not improved when you can't see your doctor or have a procedure.”
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A sign in the widow of The Framing Gallery shows they are closed due to the new coronavirus COVID-19 pandemic, in Grosse Pointe, Mich., May 7, 2020. (AP Photo/Paul Sancya)
Varney said America can’t stay locked down because the "frustration" of staying home and "economic pain" gets worse by the day.
“Call it tough love, and that’s what it is. It’s not easy facing the virus risk. That’s tough,” Varney said. “But worse is the destruction of our economy, our way of life. We have to climb out of the abyss that we're in. Back to work... soon please.”
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