America isn’t one big conglomerate business. It’s actually capitalism built upon the hard work of Mom and Pop businesses, bill paying Americans and the sick workers that make it to work every day. As the Corona stampede continues, these are the people that will be hurt. The federal government doesn’t usually create laws to help small businesses-more likely creating tons of regulation instead of assistance. As American cities begin shutting down schools, companies, and public places what will these small businesses do to survive? What can those affected by Corona do to stave poverty? It’s up to the federal government to create and influence decisions for and to businesses, bankers and the American people to stave off a Corona recession.
The Small Business Association (SBA) provides small businesses with loans for natural disasters such as hurricanes and floods. If the coronavirus which is deemed a pandemic were restated as a disaster then loans could be distributed. New York businesses have seen a 40-70% decrease in sales/services due to social distancing which is promoted by global governments to avoid contagion. This is proof that a forced lack of business from a viral pandemic is a disaster for business. Therefore, a disaster should be declared for businesses in order to maintain the 80% of businesses which boosts our economy. Without those loans, businesses will not be able to pay rent, employees, and suppliers creating another Great Recession. Money is the oil that feeds our capitalist wheel so keep it flowing.
According to studies, Americans are leveraging $10 trillion in mortgages. The average mortgage is about $150,000, not much economic strain for a booming economy. Except that the bull run seems to be over as Corona becomes the newest beast in the markets. Our banking industry needs to mimic the efforts of the UK. Currently, UK mortgagers are allowed to defer payments during the crisis. That’s a scary issue for most Americans as they just got over the hump of the last recession but it’s a good option. As major cities close schools, public venues and refuse audiences at large events, the money will not flow in our capitalist wheel. It’s not just those forced out of work for a few weeks that will be affected. It’s the businesses they shop at, the restaurants they normally visit and the petty cash spent at convenience stores located near their jobs. All of these people will be directly affected by corona. We learned from the 2008 crash that helping people now will not foreclose America’s capitalist based dreams.
Stimulating sick time for employees would stop the Coronavirus while allowing people time to properly heal. President Trump is negotiating a trillion-dollar stimulus deal to offset the economic effects of the pandemic. This money could be directly sent to people that contract the virus. Currently, 58% of workers in America do not have paid sick time so keeping people quarantined will only destroy their lives. A specified piece of the stimulus could be used to cover all expenses for Corona victims with proper doctor paperwork. Consider it a Corona FMLA with paid days from the government, not the employers. If people know they will receive their benefits within a required 7-10 days then they’re more likely to go to the doctor and agree to quarantine. Keep people paid and the nation stays healthy.
These are but a few ways our government could save the American Century from disaster. We cannot have another recession since we haven’t fully recovered from the last one. Please share these ideas with friends, neighbors, family and your local politicians. Make sure you air your ideas to remain safe and healthy America!