Question

Analyze the Stimulus Plan passed by Congress on March 27. How well do the measures address the problems the economy is facing? How well do they protect the most vulnerable people in our economy? What alternatives would you propose to improve or supplement the bill? Has the Coronavirus changed your opinions or offered new arguments on major economic policy issues, such as Medicare for All, Sick Leave or Family Leave, or other issues. Explain.

Answer 1

A 2 trillion dollar stimulus package was announced on 27 March 2020.lt is infact the largest stimulus in the history of United States of America.

The stimulus has the following proposals

*Direct payment of 1200$ to millions of individuals who earn 75000$ or less and an additional 500$ per child.

*An expansion of unemployment aid including payments, for the first time,to people who are self employed or work in a gig economy

*A 500 billion dollar fund to help companies, which includes loans to hard-hit sectors such as the airline history.

*350 billion dollar people loans for small businesses

*100 billion dollar for hospitals and related health systems on frontline of the corona pandemic.

However making this bill work itself is going to be a Herculean task for the Trump admission as it requires expertise, skill and professionalism to execute.

* the payments mentioned in the package may be helpful to people who lost their jobs but it will be ineffective in in bringing back the stability of the economy.

* Trump administration requires American who receive social security to file a tax return to receive their $1200 economic stimulus payment. This file is requirement would place a significant burden on retired seniors and individuals who experience disabilities.

* it is horrible fact that Americans who are are desperate for aid from their government could not get it without paying it 20% surcharge to the rich and Powerful as the stimulus includea a 500 billion dollar fund to bailout corporations.

* states and Municipal governments only received 150 billion. It is not enough to save them as they are economically slammed due to the Surge of people seeking unemployment benefits and tax revenue dropping as a result of low business activity.

In the midst of cororna pandemic threatening our lives what we need as well as the economy need is something different from this stimulus package.

*The corona virus tests are still not available widely.

* The availability oh health care Professionals are also low compared to the demand. Training should be given to healthcare professionals in order to make them well equipped for emergencies.

* Large scale testing of the population is important .Identification of each case can save multiplies lives. surrendering to the pandemic simply is not an option.

* All those who cannot afford Health Care should be given sufficient aid by the government.

* Policymakers should be considering various forms of tax relief and public guaranteets for firms to borrow.

* implementation of a short time work allowance will be a great relief and it will compensate for the under employment of the workforce through same channels that are already used for unemployment insurance.

The intensity current crisis would have been less if we had been a bit more careful.

*If all the workers were paid sick days they wouldn't have come to work when they had symptoms.

* if we had strong labour Union and rights along with a guaranteed living wage ,we would have been able to take care of ourselves.

*statistics revealed that 30 million people in the US lack health insurance.we should have have had a single payer health care system,at least for those who were unable to afford quality healthcare. If the access to health care system was not limited by high copays and deductibles, we could have saved many lives.

* Americans pay over $10,000 each annually on Healthcare which is far more than any other developed country any other developed country. There is results only good for the rich because the country still creates and attract the best talent in the world. But for most people, life expectancy just fell as shown in the global rankings be the World health organization.

Now huge vulnerabilites of our health care system and economy had been exposed.Trump has stated that there is an agonizing tradeoff between saving the economy and saving lives.But this is a false dichotomy.We need to accomplish the task restoring the health of our citizens as well as the health of our economy.But it's not impossible eventhough it will take time.The best way to limit the economic damage will be to save as many lives as possible.