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Is $2 Trillion Enough?

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David
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Summary:
I have yet to see the actual text of the legislation but I am looking at the news reports of what is included and I have doubts this will be enough. It is good though to see, finally, a fiscal response from the federal government. Cash payments will be a backstop for many but the small business sector seems at significant risk. The small business loans are being termed more “grants” thank loans and that is good, but the time it takes to get them will be a key issue and I remain unconvinced it will find the smallest of the businesses. The billions set aside for hospitals seems like it might be inadequate given the pace of spread in metro areas. That may need a specific and prompt revisit even if other aspects do not. At roughly 10% of the US economy the answer is this is

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I have yet to see the actual text of the legislation but I am looking at the news reports of what is included and I have doubts this will be enough. It is good though to see, finally, a fiscal response from the federal government.

Cash payments will be a backstop for many but the small business sector seems at significant risk. The small business loans are being termed more “grants” thank loans and that is good, but the time it takes to get them will be a key issue and I remain unconvinced it will find the smallest of the businesses.

The billions set aside for hospitals seems like it might be inadequate given the pace of spread in metro areas. That may need a specific and prompt revisit even if other aspects do not.

At roughly 10% of the US economy the answer is this is a good start. The length of the crisis will be a major issue with the propriety of this response. Longer issues, isolations, and shutdowns will necessitate further responses. That is it for the first blush response. With passage and public release of the text we can look a little more in detail.

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