Mary J. Miller, a former Treasury Department official, is a candidate for mayor of Baltimore. Treasury Department photo
As the number of confirmed COVID-19 cases rises in Baltimore and Maryland, public health services are working around the clock to save lives.
At the same time, our elected leaders should be doing all they can to stem the economic impact of this pandemic.
This is not a slow-moving recession. This is a body blow to the local economy that demands a decisive response.
A sharp contraction of economic activity – mass cancellations of gatherings at sports events, entertainment venues, conferences, church services, and now all non-essential businesses – is having many spiraling effects already. As with the virus itself, our most vulnerable residents are most exposed to the pandemic’s economic damage.
Federal Bureau of Economic Analysis data shows that Baltimore’s 2018 total GDP – a measure of annual economic output – was $52 billion. A 10% drop in economic activity for the second quarter could translate into economic losses of over a billion dollars – significantly impacting Baltimore residents, many of whom are already struggling. Unemployment is rising sharply, adding thousands of lost jobs and income.
