As the long term fallout of the coronavirus (COVID-19) begins to sink in across the country, lawmakers, economists and the White House have put forward various proposals to address the economic problems millions of Americans will face in the coming days and months.According to the Dow Industrial Average, the stock market has wiped out all the gains it made since President Donald Trump took office. Treasury Secretary Steve Mnuchin reportedly warned Republicans on Tuesday that unemployment could skyrocket to 20 percent. Even Trump, who was long dismissive of the threat posed by the novel coronavirus and suggested that it was less severe than the common flu as recently as last week, on Monday admitted that the U.S. economy “may be” sliding into a recession as a result of the pandemic.Democratic Senate Minority Leader Chuck Schumer voiced the same concern in Wednesday remarks from the Senate floor. “We’re almost certainly anticipating recession,” the senator from New York warned. “You go to the streets of many cities, towns and villages, they’re empty.”Many cities and states have shuttered all restaurants, bars, cinemas, gyms and schools in an effort to stop the spread of coronavirus, leaving millions of workers across the country without paychecks… Read full this story
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