PHOENIX — COVID-19 is wreaking havoc on the American economy, and politicians in Washington are working to blunt its impact.
Many in the U.S. cannot leave their homes. Others can’t keep their businesses open due to emergency declarations.
Arizona State University economics professor Dr. Bart Hobijn compared the everyday movement of money through the economy to blood flow through the body.
“Think of that as the blood flow of income and spending in the economy,” Hobijn said. “That blood flow is coming to a screeching halt.”
Lawmakers in the nation’s capital are considering an infusion of cash, a stimulus package, in order to fight the economic effects of the virus.
“So to keep that blood flow flowing in the economy it makes sense for the government to do a substantial - I would say - blood infusion,” Hobijn said.
Both houses of Congress have multiple varying legislative proposals and are working to get one to President Trump as soon as possible.
