North Carolina State Treasurer Dale Folwell recently voiced concerns over the ongoing and long-term effects of the continued restrictions placed on the state in response to the novel coronavirus. | Stock Photo
North Carolina State Treasurer Dale Folwell recently voiced concerns over the ongoing and long-term effects of the continued restrictions placed on the state in response to the novel coronavirus. | Stock Photo
North Carolina State Treasurer Dale Folwell recently voiced concerns over the ongoing and long-term effects of the continued restrictions placed on the state in response to the novel coronavirus, especially as it affects those near the bottom of the economic ladder.
“This could create an economic inequality that will take years to recover from,” Folwell said, the Rhino Times reported on May 15.
Folwell noted the disproportionate impact of restrictions on people who perform manual labor, the Rhino Times reported.
“People who make their livings with their hands, their backs and their feet, are losing their upward mobility and the joy of achievement in life," he said, the Rhino Times reported.
Blanket restrictions across the state also are disproportionate to the needs of different communities, particularly rural ones, he said, the Rhino Times reported.
Additionally, with states such as South Carolina reopening sooner than North Carolina, the state is losing consumer spending as residents travel elsewhere to use their money, he said, the Rhino Times reported.
While the state has a $4 billion surplus in addition to the $4 billion it received in federal aid — as well as another $1.5 billion in the rainy day fund — that money can’t make a difference until people are able to get back to work, he said, the Rhino Times reported.
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