The effect of the COVID-19 pandemic is still being felt across the country, despite the economic stimulus given out so far.
In December 2020, CNN reported that millions of Americans barely had enough to eat and were going hungry; had trouble paying bills, falling behind on mortgage, and rent payments and were gradually slipping into poverty. These were ascribed to the effects of the pandemic. Moreover, there was an increase in the number of Americans filing for unemployment for the first time.
The publication called for a stimulus package as there was a noticeable boost following the initial stimulus given to Americans.
Earlier this year, at an interview with ABC News, Treasury Secretary Janet Yellen, while supporting President Joe Biden’s $1.9 trillion economic package, asserted that there was an urgent need for relief from the pandemic which had hit the previous year. Americans are suffering through no fault of theirs. She described the need for economic stimulus as urgent and that there was a need to think big to prevent permanent effects from the ongoing crisis.
She further went on to mention that lots of small businesses had closed because they needed assistance. She stated that these businesses were the base of the community and it was necessary to help them to solid footing. She further remarked that she hoped that helping to pass President Biden’s bill would be her legacy as Americans have suffered in several ways as a result of the inadequate stimulus and deserved much more help from the government.