8 • RU BY, WILD ING & SWANSBURG m pe a r r c k e e n t t s . dropped 26 percent. Unemployment rose to near 15 ³ TS oh,e Coount lgoroeks sw agso td i rt oe f do ro ionugr nwaht ai ot n Ca loencgorneos sm yd.o e s b e s t : spending money. In response to COVID’s economic impact, the government pu na sesme dp l osyeevde rwaol r kset irms ua nl uds f l opuanc kdaegrei nsg ba iums iende s saet s . s u p p o r t i n g The price tag on the initial set of stimulus packages was around $2.2 trillion. ⁴ This spending increased uP nr oegmr apml o y(mP PePn)t l oba enns ,eaf int sd, e xppraonvdi deeddM ePdaiyc ac hi de cakc c ePs sr.o t e c t i o n It also added TRILLIONS of dollars of new debt to the national deficit. Government spending is a common way countries battle tshoeu gehcto tnoo ms pi ec nidmopua rc t woafy doi surtuopft i tvhee eGvreenatts .DTe ph er e sNsei own , Daenadl bs toi mt huGl uesopr ga ec kWa g. e Bs ut os ha dadnrde sBs at rhaec2k 0O0 b8 arme cae sussi ho enr. e d i n l a r g e But COVID-related spending has eclipsed almost asinzyetahnindgspoueerdc.ountry has experienced in the past—in both In fact, the stimulus packages of 2020 generated the mhisotsotryd.eficit spending the U.S. has incurred in modern ⁵ 3 TED (The Economic Daily). U.S. Bureau of Labor Statistics. May 26 , 202 2 . “wUwn we m. bpl sl o. gyomv /e onpt ur ba t/et erdi s/e2s0t2o0r/eucnoer md ph li og yh m1 e4 n. 7t -pr ae tr ec -erni st ei sn- tAop- rr ei lc 2o 0r d2-0h. ”i ghht-t1p4s -: /p/o i n t - 7 - percent-in-april-2020.htm 4 Senator Mitch McConnell. Congress. May 26 , 202 2 . “S.3548 - CARES Act.” hi dt3t p2sD: /8/2w0 w6 FwB. 1c o5nEg4r8eDs s3. Ag o2v0/Eb3i lCl /6171A61tEh6- c0o2n0g4r e s s / s e n a t e - b i l l / 3 5 4 8 / t e x t # t o c - 5 Emily Cochrane and Nicholas Fandos. The New York Times. May 22 , 202 1 . "Senate Approves $2 Trillion Stimulus After Bipartisan Deal.”
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