U.S. Economic Situation—January 2021
Americans’ lives and livelihoods took a hit in spring 2020 when the COVID-19 pandemic disrupted their routines and how they earn a living as lockdowns by governments in response to the pandemic exacerbated the situation.
Congress has since authorized about $4.5 trillion in aid, which has swelled an unsustainable national debt. Combined with the redistribution of resources from the private sector, the result is a crowding out effect that harms America’s future economic potential and disproportionately hurts those who cannot afford this government overreach.
There is a need for sound policy by governments at every level to support a safe, expedited, and fiscally responsible rebound so Americans have more opportunities to thrive.
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