
US Covid Relief Packages
The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, and the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 provide fast and direct economic assistance for American workers, families, and small businesses, and preserve jobs for American industries.
The cost of the CARES Act of 2020 was $2.2 Trillion.
TRUMP
The cost of the Relief Supplemental Appropriations Act of 2021 (passed in December 2020 by
TRUMP ) was $2.3 Trillion.
The American Rescue Plan Act of 2021 builds upon many of the measures in the previous two acts. Passed on March 11, 2021, by
BIDEN, the budget for this activity is an additional $1.9 Trillion.
The total of the three relief acts so far total $6.4 Trillion with another program currently being considered by Congress.
Don’t Forget the Monetarists
Monetarists maintain that the supply of money in an economy is the primary driver of economic growth. As the availability of money in the system increases, aggregate demand for goods and services goes up. An increase in aggregate demand encourages job creation, which reduces the rate of unemployment and stimulates economic growth.
As an economic tool, monetarism is implemented to adjust interest rates to control the money supply. When interest rates are increased, people have more of an incentive to save than to spend, thereby reducing or contracting the money supply.
Contrarily, when interest rates are lowered following an expansionary monetary scheme, the cost of borrowing decreases, which means people can borrow more and spend more, thereby stimulating the economy.
Monetarists propose that businesses will be able to anticipate the changes to the money supply every year and plan accordingly, the economy will grow at a steady rate, and inflation will be kept at low levels.
https://www.stlouisfed.org/~/media/publ ... ry_act.pdf
https://www.usatoday.com/in-depth/news/ ... 922144001/