“U.S. economy deteriorating faster than anticipated as 80 million Americans forced to stay at home”
March 27, 2020
“The U.S. economy is deteriorating more quickly than was expected just days ago, as extraordinary measures designed to curb the coronavirus keep 84 million Americans penned in their homes and cause the near-total shutdown of most businesses.
In a single 24-hour period, the governors of three of the largest states – California, New York and Illinois – ordered residents to stay home, except to buy food and medicine, while the governor of Pennsylvania ordered the closure of nonessential businesses…
The resulting economic meltdown, which is sending several million workers streaming into the unemployment line, is outpacing the federal government’s efforts to respond. As the Senate on Friday raced to complete work on a financial rescue package, the White House and key lawmakers were dramatically expanding its scope, pushing the legislation far beyond the original $1 trillion price tag…”
https://www.thehour.com/business/article/U-S-economy-deteriorating-faster-than-15147050.php