Question

Congress and the President just passed a bill that will inject an EXTRA $2 TRILLION, or $2,000 BILLION (more or less) in spending into the U.S. economy. To TRY to put this into context, our federal government typically spends about $4,400 billion IN A NORMAL YEAR. 1. Do you think this is a good idea? Or a bad idea? Why? 2. If the American people ‘still need help’ 3 or 6 months from now, should our government spend EVEN MORE MONEY at that time to help them? Why or why not? What is your definition of ‘still need help’? 10% unemployment? Less? More? Why? 3. Given this incredible moment in history, as a nation, should we PERMANENTLY CHANGE programs --- including direct payments to people ---so that more money is injected into American households? No? Yes? If so, how would you pay for it?

Answer 1

US economy is apssing through a bad phase. Due to complete lockdown, the economic slowdown has already popped up and most of the daily wage earners have been hit the most. Majority of the daily wage earners working in retail store, restaurants and petrol bunk have already lost their jobs and rate of unemployment is already at its peak. This has led to a big disaster in the economy and the earning opportunities for thousands of people.

In order to overcome this situation, government need to pump in extra spending in the economy to recover the people and to make them come out of this disaster. It is a good idea to increase the government spending and provide some relief for the daily wage earners and the underpriviliged people.

The prime focus of the government currently is to offer relief to the people and to provide them the basic essential services. In order to make it possible, if the government has to go for extra spending, it would definitely be a good idea. Even if the people need some help probably after 3 to 4 months from now, government should be ready to serve them. As the country comes out of this pandemic, the recession would pop up and unemployment problem would be at its peak. The people even need higher level of financial support from the government that time as well.

Government should offer direct payments to American households so as to make them lead a normal life with access to the basic essential needs. Government should allocate certain relief funds for this help and request for help and support from the wealthy citizens of the country. The idea is to redirect the excessive wealth of the wealthy citizens to the help and support of the underpriviliged people.