We are one week away from a huge election which will determine both our President for the next four years and whether either party will control one or both Houses of Congress. National elections are always exciting, but this one is characterized by heightened intensity, as it is being contested in the shadow of a world-wide pandemic and the recession it has induced. The stakes could not be any higher.
On the other hand, the election will not eliminate the pandemic nor heal the economy. That will take medical advances and economic policies that are geared to help those who are affected the most by our economic malaise. We are already down the road with regard to the development of vaccines and therapies. We have also applied many therapies to the economy as well. These have included low interest rates, stimulus checks, business loans and more.
This pandemic has lasted longer than most have expected, and it looks like it will be here for some time to come, even if we have an effective vaccine. That means that there will be a need for more economic medicine. That could be more stimulus checks, tax credits for homebuyers, grants for rebuilding our infrastructure and/or rescues for certain industries. The outcome of the election may not have any affect upon medical breakthroughs, but it may affect which way we turn with regard to economic therapies.
Dave Hershman is the top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School. Want to send this commentary and other news in a personalized format to your sphere database or on social media? Sign up for a free trial at www.OriginationPro.com.