Fiscal Force

With the economic toll of Covid-19 rising sharply, the government must offer a large stimulus package to prevent a precipitous decline in aggregate demand. We must stop firms from layoffs which will deepen the falloff. A new program of 2% of GDP or $400 billion would be a good start. Offer interest-free loans to small businesses, credit lines to big ones and larger unemployment benefits. Speed and simplicity are paramount.

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