One of Obama’s former top economist is suggesting that the federal government should send a $1,000 check to American adults to help stimulate the economy during the coronavirus outbreak.
In a report by Business Insider Markets, Jason Furman said in an op-ed piece by the Wall Street Journal asked Congress to pass a $350 billion legislative package to help financially support Americans who are severely affected by the novel coronavirus. The package would help improve social safety-net programs along with helping those struggling with finding a stable source of income.
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“We’ve reached a point where a stimulus package has very little downside and has potential upside. It is absolutely unambiguously the right decision for Congress to make. The risks are that we end up with in addition to a public health emergency, an economic emergency,” he said. “Those two could compound each other and lead to a serious recession.”
Additionally, Furman stated Congress should send an extra $500 for each child in the household.
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Currently, economists and policymakers have been trying to reach out to Congress to help alleviate the coronavirus-stricken economy. Business Insider also noted Trump’s former economist noted that Congress should help provide aid to Americans who are struggling to find work:
“Lots of talk about potential fiscal stimulus packages that unfortunately seem more political than productive. Govt must spend on COVID-19 containment & prevention. Additional fiscal stimulus doesn’t make sense unless it’s going to help those economically hurt by #coronavirus”
“As events get canceled and people go out less, they will certainly struggle,”