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The long-term price of the pandemic is just barely beginning to emerge

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Photo: Evan Vucci/APEven if you believe every optimistic scenario about how the coming months could unfold, America is still looking at a hole in our finances and society that could take generations to dig out of.Why it matters: President Trump and his top officials keep telling viewers that the economy will come roaring back within months of getting the virus under control. But the long-term price of the pandemic is just barely beginning to emerge.Consider these projections, just three months into the crisis — with untold months of twists and pain ahead: Business borrowing also is setting records: Companies including ExxonMobil and Walgreens, "which binged on debt over the past decade, now are exhausting their credit lines and tapping bondholders for even more cash," the WashPost . On top of all that is the human cost:The bottom line: When the health crisis ends, the effort to rebuild America will just be beginning. The coronavirus has infected more than 2.4 million people and killed over 165,000 worldwide, per What's new: New Zealand Prime Minister Jacinda Ardern she was extending by five days the country's level 4 lockdown measures requiring non-essential workers to stay home, as she announced nine new cases. NZ will move to level 3 at 11:59 p.m next Monday. It has and 1,440 confirmed and probable cases.The number of confirmed coronavirus cases in the U.S. on Sunday, while total deaths surged past 40,400.Driving the news: President Trump will use the Defense&nbsp;Production Act "to increase swab&nbsp;production in one U.S. facility&nbsp;by over 20 million additional swabs&nbsp;per month," he told a briefing Sunday, adding they'd encountered difficulties with another firm but this action would mean "we'll be getting swabs very easily." He didn't name the companies.Global: Total confirmed cases as of 3:30 a.m. ET: — Total deaths: — Total recoveries — — .U.S.: Total confirmed cases as of 3:30 a.m. ET: — Total deaths: — Total recoveries— — Total tested: — .Administration latest: Mnuchin says could come as soon as today.States latest: Governors at Trump's call to "liberate" states in defiance of stay-at-home orders — Some say is not where it needs to be to reopen states.Public health latest: Americans gather to — Parents' spikes — Worries mount over of child abuseWorld latest: Thousands of Israelis government while social distancing in public — Massive U.K. investigation finds Boris Johnson , ignored warnings from scientists Business latest: Neiman Marcus for bankruptcy — The biggest is a lack of visibility.1 sports thing: will see their checks reduced by 25% starting May 15.What should I do? — — —&nbsp; — — — .Other resources: CDC on , , .Subscribe to to follow our coronavirus coverage each morning from your inbox.

Photo: Evan Vucci/APEven if you believe every optimistic scenario about how the coming months could unfold, America is still looking at a hole in our finances and society that could take generations to dig out of.Why it matters: President Trump and his top officials keep telling viewers that the economy will come roaring back within months of getting the virus under control. But the long-term price of the pandemic is just barely beginning to emerge.Consider these projections, just three months into the crisis — with untold months of twists and pain ahead: Business borrowing also is setting...

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Jim VandeHei

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The long-term price of the pandemic is just barely beginning to emerge

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