WASHINGTON (AP) – US efforts in World War II were not out of the question. Bat battles spread across three continents և over four years, 16 million served in uniform, և the government pushed the levers of the economy with all its might, defeating Nazi Germany և Imperial Japan aponia.
It was cheaper for American taxpayers than this epidemic.
The $ 1,400 in federal payments to millions of people ‘s bank accounts is a law passed in the last two weeks that amounts to a nearly $ 2 trillion aid package. In doing so, the United States has spent or pledged nearly $ 6 trillion to crush the coronavirus, to rebuild economically, and to bite out child poverty.
Putting it into action within a year, it is a rapid diversion from the capital, which is known for its deadlock, ugly quarrels, and now the episode of violent uprising.
For a year now, Americans have been facing numbers beyond their usual comprehension. Some 30 million infected, more than half a million dead, millions of jobs lost, huge sums of money being wasted through government pipelines trying to resolve the situation.
How high can you count? One after another, this may be the rhetorical question of this COVID-19 times.
The attack on Pearl Harbor was once a modern sign of national trauma. Some 2,400 Americans have been killed in an attack on the Navy in Hawaii, which has swept the United States into the Pacific War. 2001 The nearly 3,000 deaths from the 9/11 attacks became a new point of comparison as the COVID-19 crash escalated.
The United States as a whole has reached COVID-19 3000 deaths even by 2020. The end of March. In December, the country was living day by day after 9/11. At that time, COVID-19 was killing more Americans than any other disease, any single cause.
“COVID-19 is now the leading cause of death, surpassing heart disease,” said Dr. Robert Redfield, then director of the Centers for Disease Control and Prevention. Looking forward to the coming weeks, he said, “This will be the most difficult moment in the history of this nation’s public health.”
This happened even five days after the vaccines were distributed.
Deaths are now being moderated to make up for the 9/11 casualties on a cumulative basis every few days, with the US death toll now exceeding 530,000, surpassing the US combat deaths of all the wars of the last century.
A new indicator is expected. The estimated 675,000 Americans who died during the 1918-19 epidemic misnamed the Spanish flu.
It is possible that this destination will not succeed if the worst case scenario is avoided. But it is so obvious. The United States dealt a proportionately greater blow to this epidemic.
The United States has had 5 to 1 deaths worldwide, up from 75 to 1 deaths a year ago, according to a rough estimate of the epidemic.
The blame game continues, which is exacerbated by the note of President Donald Trump, who rarely acknowledged the severity of the crisis and regularly distorted it. He told the Americans that in 2020 In March, the country announced that the United States was “just rounding up the final turn of the virus” at the height of the outbreak of “just going to Easter’s Easter” infections.
“We were struck by a virus that was silenced and spread unchecked,” President Biden said in a keynote address on Thursday. “Days, weeks, months of rejection.”
But while Trump remained on the sidelines, he also opened the vaccine’s epidemic aid fund, backing $ 4 trillion in aid, which equals 20 percent of the US economy.
And together he put together a Star Wars soundtrack that almost justified his hyperbole. With the usual years of vaccine delays, permission to release two vaccines, now three, has proven to be a “great speed” of action.
The Trump administration’s stunning success, through direct spending on the discovery of coronavirus vaccines through direct spending or prepaid purchasing commitments, has led to the Biden administration’s nascent success in boosting the production and delivery of those personnel.
Shots of this Trump-Biden sequel rose to 48,757 on the first day of December 15, rising from an average of 1.5 million to 2 million in the first week of March, giving us hope that we can overcome the shortage of stable vaccines. More than 100 million doses have been administered. 35 million people have been completely vaccinated.
For all this, the bill is stratospheric.
Back in February 2020, when financial markets showed the severity of the epidemic, oil prices began to fall, many economists began to predict that the US government would have to borrow unimaginable money for the older generations.
Now it is a reality.
Biden’s $ 1.9 trillion package last year trailed five other individuals, for a total of nearly $ 6 trillion. That’s about $ 1 trillion more than US military spending in World War II, all in today’s dollars. That’s more than just two years ago – $ 4.4 trillion in total government budget.
About two-thirds of the money in Biden’s program will be spent in a year, which is a big injection, which worries some economists about inflation.
How can the United States afford it?
At least for now, the debt is cheap.
Last year, the price of debt service was only 1.6% of GDP, a bargain compared to the 1990s, when total debt was much lower. At that time, the federal government spent about 3% of GDP on net interest expenditures.
Bargaining, of course, is relative. Debt is historically high, 130% more than 10 years, even before the last aid package, a historically manageable burden at low interest rates. Big ticket plans for infrastructure, etc. are still ahead.
And they will definitely come with 12 zeros. It is now a world of trillions.
Associated Press writers Alan Fram and Josh Bock contributed to this report.