The COVID-19 pandemic has taken a toll on the world economy and forced American lawmakers to make difficult decisions on how to combat the deadly virus.
Another round of stimulus bills being run through congress to the tune of $1.9 trillion. A hefty price tag that will be levied on the back of future generations to come. The top priority for Joe Biden and his administration is the pandemic, and rightfully so because it has decimated a lot over the last 11 months. A lot of time and resources have been put into trying to get this right to eradicate COVID-19.
But, at what cost are we still just kicking the can down the road? The nearly $2 trillion proposed by Biden doesn’t account for the $11.7 trillion the world has spent to tackle the virus. Several projections predict the COVID-19 pandemic will cost between $15.8 trillion and $24.2 trillion.
Let me put it this way, Amazon is currently valued at $1.7 trillion dollars. That’s $200 billion less than the current proposal for COVID-19 from the President. The United States Government could theoretically buy Amazon and all 32 NFL teams (according to 2020 values from Forbes), and still have $102.5 billion left over from the $1.9 trillion proposal. Now we’re talking about real “adult money” right there. The U.S. is living on a credit card that one day will have to be paid in full.
Listen to Pat’s thoughts on the costs of COVID-19 below.