Our society is being asked to step up to a challenge unlike any we’ve seen in the past 75 years, and so far, the results are mixed.
On the bright side, social distancing is happening to an extent that we never thought possible. Some of our leaders (I’m looking at you Governor Cuomo) are really filling the void. And collaboration tools like WebEx and Zoom are allowing at least some commerce to proceed.
On the other hand, federal leadership has been uneven to say the least. Spring breakers haven’t quite gotten the message. And our social safety net will be tested like never before, as millions are thrown out of work and need unemployment and food assistance benefits.
Congress is considering a $1 trillion stimulus package. Here are a few stories worth digging into which gives insight into what’s on the table.
- WSJ – McConnell Unveils GOP Stimulus Plan Amid Coronavirus Crisis
- The Hill – Schumer slams ‘inadequate’ GOP coronavirus stimulus plan
- NY Times – Senate Rescue Package Includes Corporate Tax Cuts and $1,200 Checks
- Politico – Airline bailout faces a giant hurdle: Limits on exec bonuses and stock buybacks
- Bloomberg – Casinos, Cruise Lines Poised for Aid as Bailout List Grows
- Morning Consult – House Democrats Push for Renewable Energy Tax Credits in Coronavirus Stimulus
- GTM – Solar, Wind and Storage Industries Seek Relief in Coronavirus Stimulus Package
- Roll Call – In memo, Rep. Maxine Waters lists stimulus priorities, ignoring industries
Given the competing interests this time around, expect this package to take longer to work out. There will be wrangling between those who favor rescuing industries and those who want to support workers and those in need of help.
At the end of the day, given the dire shape that our economy is in, expect an all-of-the-above bill that provides something for (almost) everyone.
Courtesy of Josh Zecher
Looking for a silver lining in the otherwise dark cloud? Cyber is hot and needed and wanted. Just ask Crowdstrike. The company’s stock was up 28 percent between its open on Thursday and open on Friday thanks to upbeat earnings projections saying that the coronavirus remote working boom will lead to the need for increased investment in cybersecurity.
The Not So Good News
The global cost of cybercrime will reach $6 trillion by 2021, doubling in just six years, according to new research from Cybersecurity Ventures, making cybercrime more profitable than the global trade of all major illegal drugs combined.
The Musts – Read, Watch & Listen
How Will the Coronavirus End? in the Atlantic
The Hot Zone by Richard Preston