As Small Businesses Teeter on Brink of Collapse, Here's When US Economy Could Be Up and Running Again
"Steady progress" – That's the president's assessment of where America stands in the battle against "the beast" known as COVID-19.
Now Congress and the Trump administration are nearing a deal to provide more coronavirus relief to small businesses, hospitals, and others. It comes as some states prepare to open up and more people blame China for their plight.
With the $350 billion funds set aside for small businesses now depleted, President Trump said over the weekend that his administration and members of Congress are close to reaching a deal to provide as much as $400 billion in additional relief.
"We're continuing to negotiate with the Democrats to get our great workers and small businesses all over the country taken care of. I think we're getting close to a deal, could happen. Could happen. A lot of good work has been going on," the president insists.
Final negotiations are underway as a US Chamber of Commerce poll found that 1 in 10 businesses said they are less than one month away from closing permanently.
And on the jobless front, 22 million Americans have filed for unemployment within the past four weeks.
Some states like Texas, South Carolina, and Florida are starting slowly to open back up.
People flocked to the beaches in Jacksonville over the weekend.
Economist Stephen Moore, a member of President Trump’s task force to reopen the economy said he expects a gradual process with western and midwestern states opening first, then east coast states, but he’s optimistic about the weeks ahead.
“I really do think things are looking brighter now every day and now I’m thinking in a month’s time we could see the American economy up and running again,” Moore explained on the John Catsimatidis radio show.
With the nationwide shutdown now entering its sixth week, protestors hit the streets in state capitals over the weekend in Colorado and Washington state demanding to get back to their jobs and businesses.
House Speaker Nancy Pelosi (D-CA) says there's an urgency to provide more relief for hospitals, firefighters, teachers, and small businesses.
"Let's get as much as we can for those who are helping to fight this fight so that we can soon open our economy," Pelosi said.
And now a growing number of Americans are laying blame on China.
In early February, biologist James Lyons-Weiler told CBN News his research found the Chinese were working on the virus as early as 2005. He thinks the pandemic began as a laboratory infection.
"It's possible the Chinese were trying to get a jump on the global market for coronavirus vaccine which would be huge because it's a cold virus," Lyons-Weiler explained.
Appearing on the CBN News program Faith Nation, author Gordon Chang agreed with the theory that the virus may have come from a bio-lab accident in Wuhan.
"In terms of motivation, this is a really important question. Because even though this was an accidental release, Beijing had malign motives," Chang insisted. "They knew about the human-to-human transmissibility of this. They urged countries to accept travelers from China. "
President Trump said China may be held accountable. "If it was a mistake, a mistake is a mistake. But if they were knowingly responsible, yeah, then there should be consequences."
April 20, 2020