After much flailing about, the Senate has passed the Coronavirus Aid, Relief, and Economic Security (CARES) bill. The House should act immediately and pass it.
Federal Reserve Board Chairman Jerome Powell has articulated what virtually every economist is thinking: the economy is probably now in recession. What that means, in practical terms, is that weakness is feeding on weakness: one layoff causes a delayed payment, which reduces income, which reduces spending, which causes another layoff — happening over and over in every sector of the economy, from coast to coast.
Meanwhile, governmental leaders have articulated what virtually every health care practitioner is experiencing: the health care system is being overloaded. What that means, in practical terms, is that the number of coronavirus cases is growing at an accelerating rate, including among health care workers — which is exhausting those workers along with our needed supplies, and degrading the ability of the system to treat the sick and end the contagion.
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