The COVID-19 crisis has shaken the economic landscape of nations on a global scale. In the United States, our economic response has created a snowball of deficit and debt which is rolling down the steep decline of years of deficit spending, and it is gaining speed and mass at an alarming rate. The consequences of COVID-19 and the corresponding stimulus response will be of significant magnitude. Even if we discovered a cure tomorrow, it is not possible to undo the nearly $3-5 trillion in economic response. We need to look at the ramifications of trillions of dollars in direct aid coupled with lost revenue to understand the bigger picture of the current and developing economic situation. More importantly, we need to take an honest look at the tools in our arsenal for repairing our crippled economy.
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Image is Getty from original post on Forbes.com.