How Coronavirus is Affecting the Economy

How+Coronavirus+is+Affecting+the+Economy

Evelyn Peyovich, Editor

Coronavirus. It’s everywhere; it’s on the news, on TV, basically anywhere you look. School’s cancelled because of it, sports events such as the Olympics are no longer happening, and it’s taken a HUGE hit on the economy.

On March 26th, 2020, the U.S. government passed a $2 trillion stimulus bill to soften the blow of the Coronavirus crisis. Although this has mainly affected the United States, there’s similar situations going on in the entire world, and our government’s donations affect international economy as well as our own. It’s easy to see why: numbers of cases and deaths are rising by the second, and media everywhere is encouraging people to stay inside, wash hands, and stay safe. But they passed this bill because not everyone can do that, as people are losing their jobs, small businesses are suffering, and essential workers are working now more than ever.

This bill has a huge effect. It’s sending out $1200 to taxpayers earning less that 99,000 dollars a year, as well as loans for small businesses. This is essential for the people earning less, but it also has a huge affect on the economy. Senator Mitch McConnell stated, “In effect, this is a wartime level of investment into our nation,”. It’s no lie that this money is important, and billionaires and celebrities around the world know that they need to step up. And they are! Billionaires such as Bill Gates and Jeff Bezos are donating to help the Coronavirus crisis.

All in all, the important thing is to stay safe, stay healthy, and stay sane during this difficult time.