With rich people, when all else fails, send money.
Secretary of the Treasury Steven Mnuchin says that there is a stimulus package in the works to send money to Americans affected by the COVID-19 pandemic.
This measure mirrors what was done in 2008, when the economy crashed due to the housing market collapse.
In the meantime, there have been an estimated 87 people who have died from coronavirus in the United States. There may be an impending crackdown on movement and other gatherings and activities if the United States’ death toll continues to rise from the disease. Borders have closed in European nations, and movements have been restricted by order of their respective governments.
In the United States, the economy is suffering greatly as restaurants, stores, and other goods and services have begun to come to a virtual halt as people hunker down. In the meantime, according to the Trump Administration, the plan is simple: send money.
Democratic lawmakers say that such an aid package could reach upwards of $750 billion. Republicans on Capitol Hill seem to agree.
BREAKING: "Americans need cash now." The Trump administration is weighing plans to cut checks to Americans immediately to offset economic fallout from coronavirus outbreak. https://t.co/1Ab81rmv3g
— POLITICO (@politico) March 17, 2020
Mnuchin and other Republicans seem desperate to boost the economy.
Britain, Spain, China, and South Korea are doing a much better job of addressing the crisis than the United States is, with travel restrictions and even movements within the nations themselves being restricted. Britain has restricted travel and other movements amid scientific predictions that as many as 250,000 Britons and more than a million Americans could suffer death as a result of COVID-19.
However, the motives of the actions of the Trump Administration remain suspect. After all, the economy is Trump’s number one talking point with regards to the 2020 election, and with the markets in freefall as a result of this situation, his election chances are hampered, to say the least.
At the end of the day, all that is being done here is not for the American people or for the people of the world, but for Donald Trump’s chances of remaining in the White House for another four years.
Featured image credit: Public Domain/Wikimedia