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The IRS had issued about 150 million direct payments to Americans — totaling nearly $260 billion — to help mitigate the financial burden of the COVID-19 pandemic.
https://www.pgpf.org/blog/2020/05/how-many-coronavirus-stimulus-checks-have-been-sent-out-so-far
During the week that ended on May 23, 2.1 million people filed for unemployment insurance. That capped off a ten-week period during which a total of 41 million individuals filed a claim.
Mesa Community College designs winning campaign to engage Millennial and Gen Z students on the rising $25 trillion national debt.
“As this crisis continues, lawmakers are taking necessary action to confront the pandemic and help our nation recover. At the same time, voters are very concerned about our nation’s fiscal and economic future,” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2020/05/fci-press-release
So far, federal measures to support small businesses have amounted to $760 billion.
Before the pandemic, the U.S. economy was in its longest expansion since World War II and had notably low unemployment. The pandemic and the resulting reductions in social and economic activity, however, have altered that trajectory.
https://www.pgpf.org/blog/2020/05/how-the-coronavirus-has-affected-our-economic-outlook
COVID-19 has spread to nearly every country in the world, and to help reduce the health risk and save lives, many countries have imposed limitations on business activity, congregating, and traveling.
U. S. defense spending increased substantially from 2018 to 2019 relative to other countries.
The outbreak of COVID-19 has become both a public health and an economic crisis. In particular, the closure of many businesses has resulted in an unprecedented surge in unemployment claims in the United States.
A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.
