Analysis How the U.S. Got It (Mostly) Right in the Economyâs Rescue Though the recession has been painful, policymakers cushioned the pandemicâs blow and opened the way to recovery. Shoppers at a mall in Los Angeles. Consumer spending is nearly back to its prepandemic level.Credit...Mark Abramson for The New York Times March 15, 2021 When the coronavirus pandemic ripped a hole in the economy a year ago, many feared that the United States would repeat the experience of the last recession, when a timid and short-lived government response, in the view of many experts, led to years of high unemployment and anemic wage growth.