Everyone needs to change their mental model of the scope of the coronavirus rescue package, Hamilton Place Strategies partner Matt McDonald tells Axios.
The state of play: Federal spending as a share of GDP this year is already closer to World War II levels than it is to the financial crisis, and that is only going to increase.
Sources: JPMorgan, CBO. Graphic: Hamilton Place Strategies
Why it matters: This event will result in big societal changes, big policy changes, and big political changes, Matt says.
- We're going to see reflection, investigation, accountability and reform.
- The changes to come will be commensurate with the size of the event. For example, WWII resulted in the establishment of the Defense Department.
