LETTER: We’ll need even more government help to recover from this crisis
The big question is how long it will take this nation to recover from the deep recession that I now expect is going to happen because of the prolonged state of this coronavirus pandemic. Small businesses and major businesses across this country are furloughing and laying off employees by the millions. Legislation passed by the feds is nowhere near sufficient to avoid this massive recession that is up ahead. Something more significant is going to have to be done to relieve the effects on this economy.
I believe that this administration has vastly underestimated the deep economic effects of this pandemic and the related shutdown of the economy that has resulted. These cash subsidies and grants must be provided to the American economy with no payback requirements or mandates. Where corporations are the recipients of these cash infusions, the money should be exchangeable for equity shares by the government in these entities.
What will be required is the most massive infusion of taxpayer cash in the history of the United States in order to recover from this crisis.
