Trump Plans Economic Protection for Americans

Trump Plans Economic Protection for Americans
  • As of March 14, there have been over 156,000 confirmed cases of COVID-19 worldwide with over 5,800 deaths.
  • In the US, over 2,800 people have contracted the virus and 57 have died.
  • Panic buying is causing shortages of food and household goods.
  • The Dow Jones rallied Friday after National Emergency declaration.

(ReliableNews.org) – COVID-19 has had a very noticeable impact on the US economy. Wall Street has felt the effects, grocery stores are out of stock on many goods, and plenty of businesses are hurting because they’re getting less foot traffic. President Trump is looking to do something about the economic state of America and help out the average citizen as well.

Trump gave two speeches this past week addressing the virus. The first one, among other actions, called for a temporary travel ban from the EU. Then, on Friday, he declared a national emergency, which enables him to invoke the Stafford Act that could provide tens of billions of dollars of direct aid to state and local governments.

Finding Common Ground

One of the president’s decisions is a payroll tax cut that would last at least until the end of 2020. It would be an expensive policy, which is making it hard for him to get Republican support behind the notion. Democrats seem to be mixed about a payroll tax cut.

Another potential alleviation measure is to provide paid sick leave for employees. President Trump seems to be considering this and it’s also supported by Democrats. Republicans, on the other hand, are concerned about excess spending that could cause more harm than good in the long run.

President Trump also announced on Friday that interest on student loans held by federal government entities would be waived “until further notice.” This could potentially save borrowers thousands of dollars.

It’s always a balancing act in Washington to find the right mix of what’s necessary and what’s too expensive for America to afford at any given moment.

Impact on Consumers

As mentioned previously, many groceries and supermarket chains are out of essentials like toilet paper, milk, and produce. The panic that some people are acting on is creating some difficulties and fueling itself. However, with the various measures being passed, the hope is the economy will settle down before long.

Trump stated that the average person is still in a great spot, saying “the consumer has never been in a better position than they are right now.”

The travel industry has taken a big hit, though. Consumers who have already booked cruises and other travel plans are in a complicated situation when it comes to refunds or other compensations for the virus. Cruise lines are reportedly offering more incentives to keep travelers aboard their ships. It’s unknown whether or not the administration plans any relief for the travel or cruise industry.

Overall, there’s no one single solution to the economic impact that COVID-19 is having on the US economy. That’s why President Trump and Congress are working on multiple measures to effectively combat its effects on the market while also protecting Americans from the impact. There will be much deliberation on what additional steps will be taken, but Trump has already gotten off to a good start.

~Daily News for Busy People!

Copyright 2020, NewsReady.com

12 COMMENTS

  1. First off there are several cases of the virus in the miltary. Especially those stationed overseas. I really dont see the gov taking control of everyones life. If that ever happened there would be so much rebellion a civil war would probably occur. I admit this virus has gotten a lot of publicity but in t cg e past few yrs we have been thru several viruses that were way more lethal than this. I dont trust the media, they rely on people who are gullable and believe everything they hear or read is gospel. I spent 20 years in the bnb military and know first hand you only know what they want you to know. Theres something going on just cant put a finger on it.

  2. This so called “virus”, is just another evil Democrat ploy to destroy President Trump, and our way of life!! It’s no different then the flu which kills thousands every year!! Stop being so ignorant and stop being a pawn of the ones who want you gone!! Use common sense, and ask God to destroy your enemies!!

  3. Warships sailor test positive for Covid 19. So where did some get off saying the military didn’t have it? None of us know for sure what’s going on, but better safe than sorry.

  4. To paraphrase Reagan, if the govt tells you they are here to help you, run for your life. The so-called “virus” – if it exists at all – is govts opportunity to imprison you in your own home. The next step is to take away your guns under the threat of killing you. Notice that police and the military have not been affected by the “virus” in any way! Be alert, my friends, the NWO is about to make a dramatic move to take over the world!

  5. There’s no reason to close all schools and cancel events. Covid-19 affects the elderly and people with compromised immune systems. It’s a respiratory disease and older people are susceptible to respiratory problems.That’s why doctors tell older people to get the pneumonia shot. 98% of Covid-19 cases are like a cold. On the Diamond Princess cruise ship only 705 of the 3,711 passengers tested positive for Covid-19. Of the 705 only half had any symptoms. One man got Covid-19 but his wife did not. We just need to use the same rules we use for the flu or cold – good hygiene, stay home if you are sick, etc. It’s amazing how many people I have seen in public restrooms coming out of stalls and walking out the door without washing their hands! Our health damage from Covid-19 is nothing compared to the damage done to our economy from this mass hysteria.

    • Are you really that self centered to think that gatherings and keeping schools open is ok. You could become a carrier and you may not feel any affects. If you come in contact with someone that’s taking care of their elderly parent, sick child or anyone st risk, you’ll have blood on your hands. This is not about you!!! It’s about doing the right thing so that people have a chance to get through this alive. Very very selfish!!!

    • I am one of those that you speak of! If I was to become sick from the virus 🦠 it would kill me! Therefore, I am thankful that my daughter does not have to attend school during this time of the pandemic….. I would much rather have my child and grandchildren home instead of carrying the virus 🦠 home to ones like me that can not afford to catch this crap 💩

  6. the deep state state presenting news… first they create the problem then they justify

    as the out come is a necessary step in our future time this is all a manufactured

    hoax to rule and control the lives of people on the earth the pill the pharmacy

    business is the most profitable companys that collect the peoples money via government grants and all other forms of printing the money and giving it away
    for the profit of a few gjmars

  7. I am afraid that we are experiencing a life style change that will last far beyond the impact of the virus. I am wary of the government seizing control of our everyday living. Freedom must be guarded.

  8. The ‘crisis’ will abate in about a month with spring’s warmer temperatures, then the DNC/Media will fall back on the old standby, ‘Global Warming’ (Climate Change)!

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