Trillion-dollar bailout justified at time of war -- on a deadly virus -- but better [View all]
Trillion-dollar bailout justified at time of war on a deadly virus but better put working people first
https://chicago.suntimes.com/2020/3/17/21183390/coronavirus-bailout-covid-19-federal-aid-editorial
That would be among the biggest spending packages in U.S. history. And it would be as justified. Our nation has spent like that in wartime, such as after the Japanese attack on Pearl Harbor, and we are at war this time against a virus again.
But unlike in the recent past, we had better spend it right
That means getting most of that money straight into the hands of the working people and small businesses who have been hardest hit by the spread of the coronvirus. It means helping first the small restaurants, hardware stores, auto shops and storefront hair salons and their employees before running to the aid of Wall Street and the big corporations.
Unanswered questions
As it stands now, the Trump administration has proposed to make $250 billion in near-immediate direct payments to U.S. households, with another $250 billion going out months later if the economy does not improve. Small businesses would receive another $250 billion.
Workers first in line
But weve been through this before. Weve learned. Any federal bailout or economic stimulus package now cannot be allowed to repeat the mistakes of 12 years ago, when CEOs and shareholders stood first in line.
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