US government needs to save Main Street, not just Wall Street

Source: Dennis Kelleher , Better Markets (CNN Business)

The next administration must fight the economic crisis that the pandemic has highlighted and accelerated. That means the country must develop the infrastructure to save Main Street families and businesses as quickly and effectively as the Fed has saved Wall Street banks and bankers.

For Main Street, the government's response to the pandemic has been insufficient. That was made painfully clear with the chaos of the ad-hoc CARES Act programs, the fraud linked to the Paycheck Protection Program, the dysfunctional unemployment insurance system and the political gridlock that continues to prevent additional aid going to families in need. This patchwork of programs shows that the government's so-called safety net has a giant hole in it that is allowing too many people to fall through.

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