Lay-offs seem inevitable and you are right most people have no safety net.
Plus lack of sick leave...
Now Andrew Yangs universal basic income would be useful.
More useful than UBI are low interest loans provided by the SBA. If anyone here is being impacted by the downturn there's info here:
https://www.businessnewsdaily.com/15639-trump-covid-19-sba-l...
Congress also really needs to pass legislation for government secured loans for small businesses in particular sectors immediately, then expand it out as needed.
I guess if we're hoping this crisis only lasts a couple of weeks, loans should bridge the gap. And options are never a bad thing!
Does the small business take a loan (at 3.75%) to continue paying payroll, despite not having any income or any work for the employees to do? Or are all the laid-off hospitality/entertainment industry workers going to go get a loan to start their own businesses (not hospitality-related, obviously)?
What am I missing?
Not only that, looking at post crisis, all the Wages Gain that happened ( or not, with respect to inflation ) are going to reset, at a time where All developed countries have the highest inequalities and lowest working class will be struggling ever more.
And I have repeatedly pointing out, no UBI, Negative Income Tax will have any impact or changes without fixing first and foremost the most important issues; Housing.