With the coronavirus putting Americans on a physical and economic lockdown, the government has enacted several plans to try to ward off financial...

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Who Really CARES About the Future? ([link removed])
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With the coronavirus putting Americans on a physical and economic lockdown, the government has enacted several plans to try to ward off financial devastation. The most prominent has been the “Coronavirus Aid, Relief and Economic Security Act,” or CARES Act ([link removed]) . But National Center President David A. Ridenour ([link removed]) says both sides of the aisle in Congress should be ashamed of what they sent to the White House.

Instead of helping stave off further crisis, David warns in a commentary ([link removed]) syndicated by InsideSources that “it could even exacerbate it.” That’s because “the package also includes hundreds of billions in spending that will do little to lessen the economic crisis.”

David suggests that “both parties apparently heeded” the advice ([link removed]) of Rahm Emanuel, the former Obama Administration chief of staff who infamously told ([link removed]) a Wall Street Journal Forum audience in 2008 that “you never want a serious crisis to go to waste.” The CARES Act, David notes, “included an enormous amount of spending having little to do with addressing the coronavirus or its economic fallout.”

While there are good aspects of the bill, such as emergency loans to businesses and governments and forgivable Paycheck Protection Program loans to encourage businesses to retain their employees, there are also blanket unemployment payments that might encourage some people to remain out of the workforce and stimulus payments that are not targeted based on who needs help the most...
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