Urgent Steps for the COVID-19 Battered Economy

Urgent Steps for the COVID-19 Battered Economy

Urgent Steps for the COVID-19 Battered Economy

Forbes, March 17, 2020

As precautions are taken to slow the spread of COVID-19 on US soil, a virtual lockdown is taking its toll on Americans’ income. To boost the economy, the Trump Administration has rolled out a set of moves to help businesses and citizens stay afloat. While these may be expensive, they will cost significantly less than what has already been lost, writes Forbes Editor-in-Chief Steve Forbes: “The cost of these measures won’t be cheap, over $1.1 trillion. But put it in perspective: The economy is going to lose more than $1 trillion in activity, and stocks have lost in excess of $6 trillion in value.” Small businesses will bear a large burden. “The big danger is that Congress mandates social regulations that will be permanent and will damage small businesses. The White House and the GOP must resist.”

Read more here.