We are still in the thick of it when it comes to coronavirus, and the economic impact of the global pandemic is still amassing itself, waiting to be fully unleashed on the world.
The longer we are forced to wait to reopen the economy, the more trouble we will have getting it restarted, and the more Americans who will be struggling to make ends meet. But, if we jump too early, we could find ourselves ushering in a second wave of infections so severe that our small economic gains will be wiped clean…and then some.
In order to keep this balancing act from toppling over, the American people will require a great deal more economic stimulus, and the House of Representatives is working on that as we speak.
Of the more than $3 trillion package, about $1 trillion would go to state, local and tribal governments, according to three sources briefed on the proposal.
Another round of $1,200 stimulus payments also would go out to most Americans under the plan, with a maximum of $6,000 per household.
Then a flurry of aid would be allocated to struggling Americans: extending the $600 extra in weekly unemployment insurance through January, pausing student loan payments through September and creating a new $175 billion benefit that would subsidize rent and mortgage payments for Americans.
In states that have partially reopened, such as Georgia, workers in the restaurant industry have complained that the lack of customers has made it impossible to keep up with their bills, and, since they are now working, they are no longer eligible for the government’s padded unemployment package.
This means that restaurants themselves are also spending money that they aren’t making on utilities, payroll, and supplies. If customers are scared off by the possibility of a second wave, these restaurants will falter more quickly than if they had not been open at all, thus devastating that piece of the economy ever more swiftly.
You see, the virus is a natural problem with a natural lifespan. Our economy is manmade, and thusly, it cannot alter the plans that coronavirus has for us.Don't forget to Like Freedom Outpost on Facebook and Twitter, and follow our friends at RepublicanLegion.com.
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