Steps taken by the United States of America to revive economy.
                     Steps taken by the United States 
of America to Revive Economy
Destructive pandemic
• The COVID-19 pandemic is already affecting the lives of 
hundreds of thousands of Americans, and it’s poised to get 
worse before it gets better. The economic impacts will also be 
staggering and long-lasting. Every sector of the economy from 
finance to airlines, retail to restaurants, is feeling the effects. 
Layoffs are happening across the United States.
Source: Google Images
$2 trillion lifeline
• The US Senate passed the nation's largest-ever rescue 
package late Wednesday, a $2 trillion lifeline to suffering 
Americans, depleted hospitals and an economy all ravaged by a 
rapidly spreading coronavirus crisis. It includes cash payments 
to American taxpayers and several hundred billion dollars in 
grants and loans to small businesses and core industries.
Source: Google Images
Biggest stimulus ever
• The $2-trillion package is touted as the world’s biggest fiscal 
response to a crisis. It includes unemployment insurance, small 
business loans, and loans for distressed companies. The 
monster deal thrashed out between Republicans, Democrats 
and the White House and was overwhelmingly passed by both 
the Senate and the House of Representatives.
Source: Google Images
Great revival plan
• President Trump has named over 200 top American leaders 
from various industries and sections to create nearly a dozen 
and a half different groups as part of the Great American 
Economic Revival Industry Groups. This includes six Indian-
American corporate leaders who are the "brightest" and the 
"smartest" people on how to restart the US economy.
Source: Google Images
Much needed relief
• The Small Business Administration approved $349 billion in 
Paycheck Protection Program loans over two weeks in April, or 
$17.3 million every minute. Within three weeks, nearly 90 
million Americans got a stimulus check of up to $1,200, a 
collective amount exceeding Hungary’s annual GDP, a 
measure of a country's yearly economic output. 
Source: Google Images
Spending reaches new heights
• The Congressional Budget Office estimated on March 6 that 
2020's federal government spending would approach $4.7 
trillion, almost two weeks before the $192 billion Families First 
Coronavirus Response Act  was signed. That funding combined 
with $2.2 trillion approved in the ensuing weeks has stretched 
U.S. spending to new heights.
Source: Google Images
Record-high unemployment
• The economic ravages of the pandemic were brought into 
sharp focus by official unemployment figures that showed 
over 26 million Americans have filed for jobless claims in 
the last five weeks - and 4.4 million in a week alone.
Source: Google Images
Spending on healthcare
• Hospitals will receive $75bn, and $25bn will go towards 
expanding Covid-19 testing - which experts have emphasized is 
a key step to reopening the economy. It also buttresses 
hospitals desperately in need of medical equipment and 
expands unemployment benefits.
Source: Google Images
Demand for more stimulus
• White House economic adviser and other Trump administration 
officials said that they do not believe a fourth economic 
stimulus package to address the coronavirus impact is needed. 
This comes as House Democrats are moving toward passing 
such a measure as early as within the week, needed to provide 
aid for state and local governments, as well as other items.
Source: Google Images