Jim Cramer Says Government Pandemic Response Fell Short

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With the world nearly three months into the coronavirus pandemic, Jim Cramer told viewers of his monthly Action Alerts PLUS members call that the people running the U.S. response to the outbreak have failed.

"They know nothing," according to Jim Cramer, echoing a declaration he made on CNBC.

Cramer says he loves Anthony Fauci, the immunologist who runs the National Institute of Allergy and Infectious Diseases. But the doctor was wrong in February when he said that people did not need to wear masks because the virus might not be worse than a really bad flu. 

Since then, the government's response to the pandemic has not yielded the millions of tests that it said would be ready by now.

"They promised us testing by the million. That was just a couple of months ago. Guys told us it would be ready by the end of February, maybe March. I don’t know about you, but to get tests is difficult to find,” Cramer said. 

“Remember the millions of kits that were promised. How about Thermo Fisher  (TMO) - Get Report and Mark Casper on Mad Money?”

It's not all bad news on the testing front. 

Cramer lauded CVS  (CVS) - Get Report and the incremental steps it is taking to increase testing.

Cramer also defended Abbott Laboratories'  (ABT) - Get Report fast Covid-19 test from an NYU Langone study that said that the test may miss too many cases. 

"I spoke to the top-level people in Abbott. The NYU charge that the Abbott machine that is being used at the White House doesn't work, I think is completely bogus," Cramer said.

"They have a companion of tests about how this thing has been 99% right, and it is incredible that they're being slagged for it."