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COVID-19 and huge public debt are America's two main threats

COVID-19 and huge public debt are America's two main threats

The spread of the coronavirus is another issue the US has faced along with a massive public debt, domestic problems, and the preparation for the election 2020. The COVID-19 outbreak is a serious test for all humanity. The global economy can suffer the most from the negative impact of COVID-19. Moreover, it will take a lot of time and resources for the economy to recover. Indeed, the US government plays a key role in responding to any threat to humankind. The entire world expects decisive actions from Washington. However, the problem is that, apart from the rapid spread of the coronavirus across the country, the US has a huge debt which has already exceeded $23.5 trillion and is larger than the size of  the national economy. There is every indication that the US deficit will be growing faster than the economy. That is why the increase of the budget deficit by $2 trillion has sparked off an intense political debate. The announced $2 trillion stimulus package stands as the largest emergency aid program in US history. Thus, every American citizen will receive $1,000 of financial aid while employees of companies with more than 500 people will get two weeks of paid sick leave. Employees who are taking a leave will be paid at least two-thirds of their regular pay rate from the federal budget.


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