Krugman Says Fiscal Response to Virus Has Been Insufficient on Several Fronts

The transcript discusses the insufficiency of the fiscal response to economic challenges, particularly the Paycheck Protection Program (PPP) and unemployment benefits. It highlights the need for better distribution of funds and suggests improvements such as federalizing unemployment benefits and providing aid to state and local governments. The speaker critiques the current measures and proposes solutions to enhance economic recovery during widespread shelter-in-place orders.

What does the speaker identify as a significant gap in the current economic relief measures?

In what ways does the speaker believe state and local governments are impacted by the current economic situation?