Economists estimate a new $1.5 trillion coronavirus relief package will be needed to stabilize the U.S. economy, with the most critical funding needed to continue enhanced unemployment and food assistance benefits, which have kept some 10 million Americans out of poverty this year but are set to expire at the end of July.
Moody’s Analytics chief economist Mark Zandi and Harvard economics professor Raj Chetty said on a briefing with the Center on Budget and Policy Priorities this week that spending on enhanced Supplemental Nutrition Assistance Program, or SNAP, benefits, as well as increased unemployment assistance will provide the most meaningful boost to the U.S. gross domestic product with a one-year outlook.
In this video, Dr. Nitin Chhoda provides his personal take on this article, and explores the following:
1. Why He Supports The Economist’s Point of View
2. The Underlying Rationale Behind What the Economists are Saying
3. Surprising New Data about Unemployment Benefits (Contradicts The Republican Standpoint)
