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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe $2 trillion relief bill is massive but it won't prevent a recession
The Senate just passed a $2.2 trillion relief package for the economy the biggest in U.S. history by a unanimous vote. The House is expected to approve it soon, and President Trump is eager to sign it.
The good news is that the majority of the money will go to laid-off workers, small-business owners, hospitals, and state and local governments. The bad news is that it wont be enough to stop a recession. And its an open question whether the nation can avoid an economic depression, the likes of which havent been seen since the 1930s.
By any measure, this is a huge stimulus package. One thing that it cannot stop is the recession that is coming, said James McCann, senior global economist at Aberdeen Standard Investments.
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There isnt some magic restart button for the economy, Hunter said. Before the money arrives, there will be a lot of collateral damage to the economy. Thats going to make restarting it difficult."
https://www.msn.com/en-us/money/markets/the-2-trillion-relief-bill-is-massive-but-it-won-t-prevent-a-recession/ar-BB11I2S7?ocid=msn360
jimfields33
(15,820 posts)Thats one step. Get those checks out. Get unemployment paid. Trump hopefully will sign the bill to make that happen tomorrow. Not sure how long the house will take to vote tomorrow, but hopefully not long.
FBaggins
(26,748 posts)Its intended to avoid a depression... and it might succeed.
RockRaven
(14,972 posts)Testing, PPE, medical equipment, and healthy health care providers. The Trump administration has fucked up on all 4 accounts. No amount of federal spending can fix the economy without stopping the illnesses and deaths.
beachbumbob
(9,263 posts)are 25-30% unemployed and food becomes an issue???