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Where and how to watch the launch of Apple's iPhone 12

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An expected event since it will be the presentation of the new 5G smartphones and the Apple AirPods Studio.

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October 8, 2020 2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

October arrived full of surprises, some good and others not so much, but although it is still the strangest and most complicated year that we have had to live, there is still positive news. One of the most anticipated events for Apple fans and industry watchers is almost here.

With the slogan “Hello, speed”, the company informed that the Apple Event will be very soon. Save the date, on October 13 at 12:00 pm Mexico time will be the launch of iPhone 12 , which promises many new features.

But, not only the new Smartphone will be unveiled, but other new products are also expected such as the new AirPods Studio , AirTag , among others.

Of course, the star will continue to be the successor to the iPhone 11 Pro and Pro Max . This model is believed to have support for the 5G network , a chip with faster processing, as well as being larger, similar to the iPad , a large number of rear cameras and more colors, of course.

This would be the first major renewal of the iPhone since 2017, that is, since the iPhone X , which had face unlock and better technology on the screen.

Where to watch the launch

The streaming will be completely free from the Apple.com page, so you can watch it from the comfort of your home.

Generally, these types of launches are made in the month of September, however, due to the pandemic and the logistical problems that this represented, that date passed without there being a new iPhone.

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Former Milly Designer Michelle Smith Has a New Line, and a New Life

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The wind was whipping around a makeshift outdoor SoulCycle studio at Manhattan’s Hudson Yards the other day, but the fashion designer Michelle Smith pulled off her “Legalize Equality” sweatshirt, baring toned limbs. She was hot. For the second time that day, she was front row and center in a spin class taught by her girlfriend, the platinum-haired star instructor Stacey Griffith.

“You are the pebble, you are the water, you are the ripple,” Ms. Griffith said into a headset, as tourists gawked and snapped pictures and Ms. Smith pedaled diligently.

The power couple had more glamorous outings before the pandemic — holding hands leaping into the water on the Côte d’Azur in France last fall, posing for bikini-clad selfies on the beach of Saint Barths in February. But an exercise session in a troubled mall was paradise compared to what Ms. Smith was going through 18 months ago at a corporate office in Midtown.

It was April 2019, and some 20 or so men were bidding for Milly, the contemporary fashion line known for brightly colored, boldly patterned dresses that she had built with Andrew Oshrin, whom she married in 2003 and separated from in 2017.

Carried in Barneys, Saks Fifth Avenue and Bloomingdale’s, Milly had a flagship boutique on Madison Avenue. The brand was a favorite of Jennifer Lopez, Mika Brzezinski and Michelle Obama, who wore a white stretch cotton poplin maxi sundress with a print that conjured the quilts of Gee’s Bend for her official portrait, by the artist Amy Sherald.

But even as the portrait was unveiled in February 2018, showering favor on the designer and the brand, Milly was in trouble.

Credit…Ángel Franco/The New York Times
Credit…via Michelle Smith

In its heyday, Milly had generated $50 million in annual wholesale revenue. But costs associated with trying to navigate the changing retail economy had brought it to auction, which concluded with its sale in 2019 to a subsidiary of S. Rothschild & Co., an apparel company, for $5.7 million.

After the last bid, Ms. Smith slipped out of the office, in tears. “I left quietly, not wanting to be noticed. I felt stripped and raw,” she said.

This week, though, she is introducing a new fashion line, named simply Michelle Smith. It diverges from Milly in nearly every way and is a reflection both of the current moment and her own new life.

In the penthouse apartment in Harlem that she shares with her children, ages 13 and 11, and often Ms. Griffith, Ms. Smith described relief from the pressures of the old fashion cycle. “Instead of working from a place of, ‘I need to make a camisole that’s on-trend,’ I am asking myself, ‘How can I express myself most honestly through this fabric,” she said.

Milly was a comer in the contemporary market of the aughts, alongside brands like Alice + Olivia and Marc by Marc Jacobs. It was introduced to a New York defined for women by the ladylike polish of Kate Spade and the lustful adventures of Carrie Bradshaw. The aesthetic of Michelle Smith is that of a more mature New York woman who’s done with norms of office dressing (just let a man criticize her for what she wears to work — not that she’s leaving home to work these days anyway). It is not exactly androgynous, but it is less overtly ladylike. Women won’t wear it to look pretty for others; they’ll wear it to feel comfortable and sexy to themselves.

Bright and flowy dresses have been replaced by comfortable and sexy loungewear: sweaters with extra long sleeves and chill-out slip-on pants, all in cashmere, to be paired and layered with silk camisoles and slip dresses for the dressing-up version of dressing for your couch.

In muted colors (beige, black and a few pops of maroon) the entire new line was hanging on racks in Ms. Smith’s apartment, which doubles as her studio and office. A bolt of black sparkly fabric sat idly in a corner, awaiting a different moment in the culture. “I was excited to use it, then Covid happened and I literally went back to the drawing board,” she said.

Starting a business of luxury casual wear with pieces that cost between $600 to $1,000 during a pandemic marked by a steep economic downslope for the average American isn’t ideal. She is using all her own money to get started, is selling directly to her customers online, and will take pre-orders that will dictate how much she produces.

After decades of the runway-to-department-store churn, Ms. Smith is now interested in conserving resources, both material and psychological. “This is not a time of excess and Michelle’s sensitive to the fact that she is launching a luxury brand when the country is under a lot of strain,” said Stephanie Ruhle, the senior business correspondent for NBC News and the anchor of “MSNBC Live With Stephanie Ruhle,” who has been a friend of Ms. Smith’s and a Milly customer for years.

“People are not going to spend money for the sake of spending money right now. We’ve all trimmed down our lives and so has Michelle. With her, you have a designer that truly lives her brands. Michelle Unzipped” — the Instagram handle adopted by Ms. Smith as she separated herself from Milly — “is the brand I followed much more than a label.”

On that Instagram account, Ms. Smith has chronicled her metamorphosis from creative director of a corporate brand and wife to unbound, freehanded designer and champion of personal freedom, love and L.G.B.T.Q. rights.

Image“Instead of working from a place of, ‘I need to make a camisole that’s on-trend,’ I am asking myself, ‘How can I express myself most honestly through this fabric,” Ms. Smith said.
Credit…Simbarashe Cha for The New York Times

Now 47, Ms. Smith first came to New York in 1990 at 18, enrolling at the Fashion Institute of Technology. She’d wanted to be a designer since she was a little girl drawing dresses on the kitchen floor of her family’s middle-class homes in Connecticut, New Jersey and Ohio — wherever she, her siblings and her stay-at-home mother moved for her father’s job as a factory plant manager.

While still a student, Ms. Smith got a retail job at the flagship Hermès boutique on 57th Street which she parlayed into an internship with the brand in Paris. Smitten with the French city and language, she landed another internship at Louis Vuitton and then enrolled at ESMOD, the French fashion school.

The next internship was at the haute couture atelier of Christian Dior on the Avenue Montaigne. Ms. Smith worked on the second floor, illustrating gowns in watercolor: one copy for the client, one for the archives. “It was such a dream,” she said.

Missing the energy of New York, though, she decided to return in 1996.

She got an entry-level job on the design team at Gallery, an outerwear company. “I love coats,” she said. “A coat is the first impression you make.” She was brought in by Mr. Oshrin, an executive on the company’s business side who was impressed by her portfolio.

By 1998, Ms. Smith moved to a design role at Helen Wang, a contemporary brand. “It was a new market sector that I was excited about, with brands like DKNY, Anna Sui and Rebecca Taylor. I wanted to be able to create beautiful fashionable clothing that I could almost afford.”

She carefully tracked the progress of her designs, sold in the department stores that were not yet seriously threatened by e-commerce. “The designs I worked on were doing well and one even got on the cover of a Neiman Marcus catalog,” she said. “It was building my confidence.”

In 2000, Ms. Smith and Mr. Oshrin, who’d begun dating and ideating, started Milly as a wholesale brand. “I handled the design and creative aspects and Andy handled the financial side and production,” she said. The business plan called for Milly to do $1.2 million in wholesale sales in the first year. They hit the target in three months.

“I think Michelle has always done a great job at knowing how to design in a way that is relevant and shifting as things shift in time,” said Tracy Margolies, the chief merchant for Saks Fifth Avenue.

Milly spread across the country, to Neiman Marcus and Fred Segal in Los Angeles. “We were coming out of the minimalist ’90s with the dark Prada and Calvin Klein looks. What I was doing was super-colorful and printed with a little ironic wink to vintage,” Ms. Smith said. “It was totally different from what was going on at the time.”

In 2011, Milly opened its store on Madison Avenue and, a few years later, another in East Hampton. Ms. Smith began to develop close relationships with her customers.

“I would go to the store on Madison Avenue and we would sit in the dressing room and talk about our bodies and our lives and everything women talk about,” said Ms. Brzezinski, who hosts “Morning Joe,” on MSNBC with her husband, Joe Scarborough, whom she married in a dress designed by Ms. Smith. “Michelle can feel your vibe and has an ability to help you translate that into your own personal style that is just so spot on.”

But supplying the contemporary market, which demanded new product every month, could be dizzying. “By the end, I was designing 27 collections a year with over 100 styles per collection,” Ms. Smith said. “It was a crazy carousel and it was going so fast.”

In 2013, the stressed-out designer followed the advice of her friends and started taking SoulCycle classes. She especially enjoyed those of Ms. Griffith, a favorite of Kelly Ripa and the former trainer of Madonna who wrote a book about going from alcohol and drugs to fitness, “Two Turns From Zero.”

“I couldn’t believe Stacey’s energy and personality and the way she lit up the room,” Ms. Smith said. The two became friends outside of class, collaborating in 2015 on a collection of T-shirts with Ms. Griffith’s motivational catchphrases like, “No One Remembers Normal.”

But Milly’s expenses and debt were growing as the brand tried to expand its e-commerce footprint while continuing to meet its department store obligations. Its founders quietly decided to separate while still living and working together, but the situation was untenable. “It just became a dysfunctional environment,” Ms. Smith said, of the company. “I don’t think the right decisions were getting made, because you had one person who said ‘black’ and one person who said ‘white.’”

Mr. Oshrin is currently working as a apparel industry consultant. “It’s a tough time to start any business,” he said, “but Michelle is a talented designer and has tremendous creative instincts.”

Ms. Griffith declined to be interviewed for this article, saying that she wanted the spotlight on her girlfriend.

Credit…David Benthal/BFA

At the end of 2016, Ms. Smith heard from Meredith Koop, the stylist for Michelle Obama. Ms. Koop had been selecting pieces from Milly for the first lady for years, first buying things off the rack and then working directly with Ms. Smith on pieces like an off-the-shoulder dress Mrs. Obama wore on the cover of Essence in 2016, and a prom dress for Malia Obama. Ms. Smith “is a woman who designs for women,” Ms. Koop said in an interview. “It’s a cliché thing to say, but it’s true in her case.”

The white dress Ms. Koop wanted for the official portrait “was very authentic to what Mrs. Obama would actually wear in her personal life,” the stylist said.

Ms. Smith worked on sketches, adjustments and pulled the dress from her collection to keep it special, but still wasn’t sure it would be selected. “I had made coats for the second inauguration that weren’t chosen, so I didn’t think it was a slam dunk,” she said. Its choosing “was the most exciting moment in my entire design career.” (The dress will be on display in the Smithsonian’s National Portrait Gallery exhibit, “Every Eye Is Upon Me: First Ladies of the United States,” which opens on Nov. 13.)

It is the only piece of her past professional life that Ms. Smith hangs on to, and she finds it irritating when Milly’s new owner seems to claim credit for the dress, as it has on Instagram on occasions like Mrs. Obama’s birthday. “It’s cheesy,” Ms. Smith said. (“We bought all the assets of Milly and that dress is an asset of Milly,” said Mark Friedman, the president and chief executive of S. Rothschild. “I feel bad that she’s irritated, but she shouldn’t be.”)

In August 2018, Ms. Smith was invited to a barbecue in Montauk. Ms. Griffith was there. “We both felt really happy to be in each other’s presence and we started spending more time together,” Ms. Smith said.

When the relationship became serious enough to tell her children, Ms. Smith said overheard her son tell a friend, “Wait till you hear this one: My dad has a new girlfriend and so does my mom.”

Last year, the couple made it Instagram-official, posting photos of themselves in embrace at the New York City Ballet. Ms. Smith captioned hers “#lovewins.”

Department stores are falling. Fashion is flailing. Winter is coming. But her wheels are turning, and she finally feels comfortable in her own skin.

“Going through everything I’ve been through, going from a young woman to an adult in my late 40s, I have found my own voice and my confidence to freely express myself in my personal life and my creativity,” she said. “For the first time, everything has aligned and it feels amazing and true.”

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UnitedHealth Ships Flu Kits to Medicare Recipients

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With Covid-19 hospitalizations spiking again in many parts of the country, public health officials have expressed concerns about a perennial source of strain on the health care system: seasonal flu. As threats of a “twindemic” loom, health care workers have stressed the need for vaccination and other preventive measures to slow the spread of flu.

One insurance company is going further to try to mitigate the effects of flu season: UnitedHealthCare, the country’s largest health insurance company, plans to provide at-risk patients with 200,000 kits that include Tamiflu, the prescription antiviral treatment; a digital thermometer; and a coronavirus P.C.R. diagnostic test. People can take the test at home and then mail it in for laboratory analysis, helping patients and doctors determine the cause of their symptoms, which is particularly important because the coronavirus and flu have similar symptoms but differ in treatment.

“These viruses have proven themselves highly capable of putting strain on our health care system alone,” said Dr. Kelly Moore, an associate director of the Immunization Action Coalition. “Their combined impact is really worrisome.”

In late September, UnitedHealthcare began inviting its Medicare Advantage members to sign up for the kits either online or by phone, starting with a focus on those at highest risk of complications from Covid-19 and the flu based on their age and health status. Since then, 120,000 people have enrolled, and the company has begun shipping the kits. The company has more than 5 million Medicare Advantage members.

The company said supplying people with Tamiflu in advance could help to mitigate the severity of flu infections because the antiviral medication gets less effective with every hour that passes from onset of symptoms and is virtually ineffective after 48 hours. Tamiflu on average shortens the duration of illness by one to two days if taken rapidly, according to Dr. Moore. It can also help prevent illness in someone at high risk of complications who has been exposed to the flu, but is not routinely recommended for preventive use in most populations.

All members signing up for the flu kits had to confirm the state where they live so that the Tamiflu prescription could be dispensed by a physician in their state. They had to attest, either over the phone or through an online form, that they would wait to take the prescription drug or the coronavirus test until after receiving direction from a physician through a telemedicine appointment, though there is no additional system for verifying this process once they receive their kits. Members also had to agree not to give the medication to others.

“We thought, ‘Imagine if you start getting sick and already had a mini pharmacy at home,’” said Dr. Deneen Vojta, executive vice president for research and development at UnitedHealthcare. The goal, she added, is to decrease the number of emergency room visits, hospitalizations and deaths resulting from seasonal flu.

There is no charge for the Tamiflu or the coronavirus test, as long as people receive advice from a doctor via telemedicine. A company spokesman said that the kits could produce savings by reducing hospitalizations through preventive care.

Flu kit recipients will be directed to schedule virtual doctor’s appointments if they experience viral symptoms. The initiative has become possible largely because of the public’s increased acceptance of telemedicine amid the pandemic. A national survey from Deloitte released in August found that the proportion of health care consumers using virtual doctor’s visits rose to 28 percent in April 2020 from 15 percent in 2019, as patients have avoided in-person visits to clinics where they are at increased risk of coronavirus exposure.

UnitedHealthcare’s initiative targeted Medicare patients because the elderly are more at risk of severe infection from both the coronavirus and the flu. Covid-19 patients who are over the age of 80 are hundreds of times more likely to die from the disease than those under 40. They are also more likely to die from the flu — between 70 and 85 percent of flu-related deaths occur in people 65 or older, according to data from the Centers for Disease Control and Prevention.

UnitedHealthcare also plans to collect data on co-infection with the coronavirus and flu. Analysis from Public Health England showed that people infected with both viruses were more than twice as likely to die, and most cases of co-infection were in elderly populations.

While no other insurance company has said it plans to send out prescription antiviral drugs, Aetna announced it would send its 2.7 million Medicare members kits containing a thermometer, hand sanitizer and face masks. Anthem has partnered with community organizations to create 500 local pop-up clinics administering free flu vaccines.

There is some cause for optimism about efforts to mitigate the spread of the flu this year, according to Dr. Marc Lipsitch, an epidemiologist at Harvard. Australia reported a 99 percent decrease in reported flu infections this year compared with 2019, partly as a result of widespread social distancing.

Americans should still be making every effort to prevent flu infection through vaccination. “If there’s an overlapping demand from the two viruses, it will compound the problem of delivering health care,” Dr. Lipsitch said. “Our health systems are already usually stretched by flu season, and could be even more stretched by Covid.”

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Trump’s Biggest Economic Legacy Isn’t About the Numbers

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BETHLEHEM, Pa. — To understand how much President Trump has altered the conversation around the economy, just listen to Bruce Haines, who spent decades as an executive at U.S. Steel before becoming a managing partner of the elegant Historic Hotel Bethlehem.

The steel mills that still dominate Bethlehem’s skyline have long been empty. And now, so are the tables in the Tap Room, the hotel’s restaurant, a sign of the economic hardship caused by the coronavirus pandemic. “It’s been very difficult,” Mr. Haines said.

The president’s management of the pandemic is a prime reason many voters cite for backing his opponent. But Mr. Haines, who lives in a swing county in a swing state, is struck most by a different aspect of Mr. Trump’s record.

“I spent 35 years in the steel business and I can tell you unfair trade deals were done by Republicans and Democrats,” Mr. Haines said. Both parties, he complained, had given up on manufacturing — once a wellspring of stable middle-class jobs. “Trump has been the savior of American industry. He got it. He’s the only one.”

ImageBruce Haines, co-owner of Hotel Bethlehem, said the business has lost 40 percent of its income because it is unable to host large events and gatherings.
Credit…Hannah Yoon for The New York Times

In perhaps the greatest reversal of fortune of the Trump presidency, a microscopically tiny virus upended the outsize economic legacy that Mr. Trump had planned to run on for re-election. Instead of record-low unemployment rates, supercharged confidence levels and broad-based gains in personal income, Mr. Trump will end his term with rising poverty, wounded growth and a higher jobless rate than when he took office.

Still, despite one of the worst years in recent American history, the issue on which Mr. Trump gets his highest approval ratings remains the economy. It points to the resilience of his reputation as a savvy businessman and hard-nosed negotiator. And it is evidence that his most enduring economic legacy may not rest in any statistical almanac, but in how much he has shifted the conversation around the economy.

Long before Mr. Trump appeared on the political stage, powerful forces were reshaping the economy and inciting deep-rooted anxieties about secure middle-income jobs and America’s economic pre-eminence in the world. Mr. Trump recognized, stoked and channeled those currents in ways that are likely to persist whether he wins or loses the election.

By ignoring economic and political orthodoxies, he at times successfully married seemingly contradictory or inconsistent positions to win over both hard-core capitalists and the working class. There would be large tax breaks and deregulation for business owners and investors, and trade protection and aid for manufacturers, miners and farmers.

In the process, he scrambled party positions on key issues like immigration and globalization, and helped topple sacred verities about government debt. He took a Republican Party that preached free trade, low spending and debt reduction and transformed it into one that picked trade wars even with allies, ran up record-level peacetime deficits and shielded critical social programs from cuts.

Credit…Mark Makela for The New York Times

“He completely moved the Republican Party away from reducing Social Security and Medicare spending,” said Michael R. Strain, an economist at the conservative American Enterprise Institute.

On immigration, Mr. Trump remade the political landscape in a different way. He has accused immigrants of stealing jobs or committing crimes and — as he did in Thursday night’s debate — continued to disparage their intelligence. In doing so, he rallied hard-line sentiments that could be found in each party and turned them into a mostly Republican cri de coeur.

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The Democrats changed in turn. Former Vice President Joseph R. Biden Jr. has positioned himself as the champion of immigrants, pledging to reverse Mr. Trump’s most restrictive policies, while rejecting more radical proposals like eliminating the Immigration and Customs Enforcement agency.

He has also been pushed to finesse his position on fracking and the oil industry, promising not to ban the controversial drilling method on private lands, and trying — with mixed success — to walk back comments he had made during the presidential debate about transitioning away from fossil fuels.

Shifts on trade were more momentous. Mr. Biden and other party leaders who had once promoted the benefits of globalization found themselves playing defense against a Republican who outflanked them on issues like industrial flight and foreign competition. They responded by embracing elements of protectionism that they had previously abandoned.

No matter who spends the next four years in the White House, economic policy is likely to pay more attention to American jobs and industries threatened by China and other foreign competition and less attention to worries about deficits caused by government efforts to stimulate the economy.

The reshuffling is clear to Charles Jefferson, the managing owner of Montage Mountain Ski Resort near Scranton, Pa.

“Those were not conversations we were having five years ago,” he said. “The exodus of manufacturing jobs, that was considered a fait accompli.”

Mr. Jefferson, 55, grew up in North Philadelphia in a blue-collar union family and remembers the hemorrhaging of jobs that many Democratic leaders said was unstoppable in a globalized world — even though such positions were deeply unpopular with many rank-and-file Democrats.

Manufacturing revived after bottoming out during the Great Recession but floundered during President Barack Obama’s second term. Mr. Jefferson, who said he voted for Mr. Obama, supported Mr. Trump in 2016. He plans to do so again.

Credit…Doug Mills/The New York Times

The sector still represents a relatively small slice of the economy, accounting for 11 percent of the country’s total output and employing less than 9 percent of American workers. But Mr. Trump has been a relentless cheerleader. While he often took credit for manufacturing jobs at companies like General Motors and Foxconn that later disappeared or never materialized, the pace of hiring in the sector sped up considerably in 2018 before stalling out last year.

As a result, in this election, unlike the last, the significance of manufacturing and the need for a more skeptical approach to free trade are not contested.

Mr. Biden, after decades of supporting trade pacts, is now running on a “made in all of America” program that promises to “use full power of the federal government to bolster American industrial and technological strength.” He has also vowed to use the tax code to encourage businesses to keep or create jobs on American soil.

Even voters who don’t particularly like Mr. Trump credit him with re-energizing the U.S. economy.

Walter Dealtrey Jr., who runs a tire service, sales and retreading business in Bethlehem that his father started 65 years ago, said he voted for Mr. Trump in 2016, but he was never a big fan of the president.

Credit…Hannah Yoon for The New York Times

“He talks too much,” said Mr. Dealtrey, who’s been around long enough to distinguish a new Goodyear or Michelin tire by its smell. “And his tone is terrible.” A year ago, he had considered the possibility of supporting a moderate Democrat like Mr. Biden or Senator Amy Klobuchar of Minnesota.

But with Election Day just over a week away, Mr. Dealtrey plans to once again support the president. Even after a few unnervingly slow months in the spring and some layoffs among the 960 people he employed at his company, Service Tire Truck Centers, he stills trusts Mr. Trump on the economy.

Mr. Dealtrey talked as he walked around stacks of giant tires that towered above his own six-foot frame, a Stonehenge-size monument to wheeled transport. He likes the president’s focus on “big manufacturing” and the way he “instills confidence in businesses to invest in this country.”

Just how much responsibility Mr. Trump deserves for reframing some key economic issues is up for debate. Frustration about job losses in the United States has been brewing for decades; the parties were diverging on immigration; and antagonism toward China over trade practices, suspicions of technology theft and its authoritarian tactics extends beyond the United States.

Credit…Ruth Fremson/The New York Times

“I don’t think he really has pushed the boundaries of any of those policy issues beyond where they already were,” said Mr. Strain of the American Enterprise Institute.

Similarly, Jason Furman, a chairman of the Council of Economic Advisers during the Obama administration, argues that Mr. Trump was pushed along by the same trends and forces that spurred his supporters. And on some issues, like immigration, he caused public opinion to move in the opposite direction.

In the end, it may turn out that the president’s most significant impact on economic policy is not one that he intended: overturning the conventional wisdom about the impact of government deficits.

By simultaneously pursuing steep tax cuts for businesses and wealthy individuals, raising military spending and ruling out Medicare and Social Security reductions, Mr. Trump presided over unprecedented trillion-dollar deficits. Emergency pandemic relief added to the bill. Such sums were supposed to cause interest rates and inflation to spike and crowd out private investment. They didn’t.

“Trump has done a lot to legitimize deficit spending,” Mr. Furman said.

Mr. Furman is one of a growing circle of economists and bankers who have called for Washington to let go of its debt obsession. Investing in infrastructure, health care, education and job creation are worth borrowing for, they argue, particularly in an era of low interest rates.

That doesn’t mean the issue has disappeared. Republicans will undoubtedly oppose deficits resulting from proposals put forward by a Democratic White House — and vice versa. But warnings about the calamitous consequences of federal borrowing are unlikely to have the same resonance as before the Trump presidency.

Back in his office, Mr. Dealtrey remembers how disturbed he once was about the size of the deficit. “I used to care about my kids and grandkids being stuck with it,” he said, leaning back in his chair. “But nobody cares anymore.”

“Maybe I don’t care anymore,” he said, momentarily surprised at his own words. “We’ve got bigger problems than that.”

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