71.5 F
Tuesday, June 6, 2023
HomeIllinois NewsAmerica's COVID-19 Policies Enriched the Politically Connected

America’s COVID-19 Policies Enriched the Politically Connected



UnnamedThe fiscal and monetary policies enacted by both the Trump and Biden administrations in response to COVID-19 have encompassed an unprecedented level of government spending, with desultory impacts on our country’s economic outlook.

As of January 2022, the federal government has spent a gargantuan $3.6 trillion and is obligated to spend $500 billion more.

The costliest programs include:

  • $848 billion in direct payments to qualified Americans.
  • $827 billion in small business loan subsidies.
  • $720 billion in combined unemployment compensation and insurance benefits.
  • $500 billion in emergency assistance to state and local governments.
  • $350 billion for public health initiatives such as vaccine distribution.
  • $275 billion for grants to educational institutions.

These programs have done little to benefit individuals suffering most from the pandemic, nor have they enhanced overall macroeconomic health.



- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories