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Andrew Kringlen
March 19, 2020
Professor Beebe
Macroeconomics 202
Macroeconomic Policy Amidst the Coronavirus Epidemic
Across the globe, the world economy is at risk of total collapse. With the current
economic struggle and the impending recession due to Coronavirus, the Trump administration
is looking to stimulate the economy by sending Americans, who don’t exceed a yet to be
defined income threshold, $1000-2000 each from a $1 Trillion reserve, with an additional $300
billion set aside to aid small businesses to stay afloat. Other businesses which are most hit by
the Coronavirus outbreak will also be supported: $50 billion to the airline industry, and $150
billion to other sectors such as hotels and cruise lines.
The Economic Stimulus Act of 2008 had a similar concept in mind: to stimulate the
economy in the face of impending recession by putting money directly in the pockets of the
people. One common theme that was seen in The Economic Stimulus Act of 2008 was timing:
many theorize that this stimulus package came too late, which did not seem to soften the blow
of the economic collapse of 2008. The question arises: is the current stimulus package coming
too late to prevent an economic collapse?
