OPINION:
The big question now is, How long will it take us to recover from the deep recession that will likely take place because of the prolonged state of this pandemic? Businesses across the country are furloughing and laying off their employees by the millions. Legislation passed by the feds is nowhere near sufficient to avoid the massive recession that is up ahead. Something more significant is going to have to be done to relieve the effects on this economy.
Mortgage relief, rent relief, unemployment relief and furloughing benefits must all come people’s way. Small and large businesses that must receive infusions of cash in much larger amounts than have thus far been authorized. I believe the Trump administration has vastly underestimated the deep economic effects of the pandemic and the related shutdown of the economy.
These cash subsidies and grants must be provided to the American economy with no payback requirements or mandates. Where corporations are the recipients of the cash infusions, the money should be exchangeable for equity shares in these entities by the government.
What will be required is the most massive infusion of taxpayer cash in the history of the United States. But it is what’s needed in order for us to recover from this crisis.
BOB JACK
North Las Vegas, Nev.
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