Congress. Get a deal done. The evidence is in. Enhanced unemployment benefits didn’t deter people from work but did support spending. Without it, we are toast. We just lost $18b a week, most of which goes toward food and rent. Even with that, food insecurity and homeless are up.
Compromise a bit but don’t remove all of the subsidies. We all need them. They support the broader economy. That means they spur employment and allow people to find work. THIS TIME IS DIFFERENT and you are making it worse. Suicides among homeless now up too. Deep Despair.
Families hit especially hard. Add online, educational inequality and outsized role women play in caring for our young and the scars could be generational. #COVID19 magnifies and exacerbated the inequality; it could also act as catalyst for reforms that spur more equitable growth.
Learn from the Great Recession and include transfers to the states. Cuts to employment at the state and local level undermined the recovery in jobs. We can’t afford a repeat of that today. Every state was affected and continues to suffer from sharp drop in tax revenues.
We also need a lot more for testing and tracking and TREATMENT. You seem to have forgotten that last part in the scramble to get a vaccine. Need more affordable and effective treatments beyond the repurposing of existing drugs. Vaccine still eternity away and not a panacea.
Money for hospitals and schools - ok check. Will need more with less strings than would like for small biz, especially those who were locked out of PPP - largely Black-owned biz. This is a marathon not a sprint and you are all showing your fatigue - don’t have time for that.
There is a time and a season for everything - now is not the time to hold back because of the deficit. It will be larger if we do nothing, given the wounds such an act would inflict on the economy. Besides, the @federalreserve has your back on rates.
Goal of next aid package needs to be to provide life support for those in a coma - individuals, families, biz and institutions - so that they can awaken and participate in the economy as it heals. Prevent more deaths or all we will have left is a graveyard to tend to.
You can follow @DianeSwonk.
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