Trump said we need to bail out big companies because otherwise it will be too hard for them to start up again later. No. Our approach should be the opposite. We should be bailing out individuals, not big companies. Now more than ever we need bottom up, not trickle down economics.
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Denmark quickly moved to pay companies the salaries of all workers making about $60K or less for up to 3 months, even if workers are at home and can't do any work. This money can't be used for anything else.
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Employed workers buy from many companies, helping the economy & limiting the scope and depth of this economic disaster. Then, when Covid10 tapers off, companies with their workers still employed can restart operations very quickly, jump starting the total economic recovery.
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The absolutely wrong move is to bailout companies that don't keep their workers employed. That's a recipe for a much deeper and sustained economic depression, that impacts national security & leads to social unrest.
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Federal Government funding to keep workers employed so they can continue buying goods and serices is not only humanitarian, its also the ONLY way to avoid a severe economic depression.
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