Mar 16 2020 17 mins 5
Key Points:
Peter Tchir Discusses the Need for Federal Assistance to Mitigate the Economic Impact of the Crisis
- We have now declared war on the coronavirus pandemic here in the United States.
- The goal is to slow the spread so our healthcare system can catch up (i.e. not be overwhelmed).
- The recommendation to stay home/limit activity will have an immediate impact on the economy.
- The Federal government needs to be more aggressive and take action to protect its citizens and make them financially “whole”.
- Unlike the 2008 financial crisis, this is a “bottoms up” problem and the effect will “trickle up”.
General Spider Marks Comments on the National Mobilization
- National mobilization – much like in WWII and during national disasters like hurricanes.
- Invoking the Stafford Act – will grant the president additional powers.
- National Guard will continue to be engaged to help communities get through the crisis.
- Country cannot move into complete isolation; we will need to work together.
- Nation has made sacrifices before, and will make them again and overcome this.
