Pandemic shows contrasts between US, European safety nets

[dalton99a]

https://hosted.ap.org/article/016b768f9c856c1baa1f7a6032de1243/pandemic-shows-contrasts-between-us-european-safety-nets

May. 10, 2020 5:18 AM EDT
Pandemic shows contrasts between US, European safety nets
By DAVID McHUGH
AP Business Writer

The coronavirus pandemic is straining social safety nets across the globe — and underlining sharp differences in approach between wealthy societies such as the United States and Europe.

In Europe, the collapse in business activity is triggering wage support programs that are keeping millions on the job, for now. In contrast, in the United States more than 33.5 million people have applied for jobless benefits and the unemployment rate has soared to 14.7%. Congress has passed $2 trillion in emergency support, boosting jobless benefits and writing stimulus checks of up to $1,200 per taxpayer.

That is a pattern seen in earlier economic downturns, particularly the global financial crisis and the Great Recession. Europe depends on existing programs kicking in that pump money into people's pockets. The U.S., on the other hand, relies on Congress taking action by passing emergency stimulus programs, as it did in 2009 under President Barack Obama, and the recent rescue package under President Donald Trump.

Economist Andre Sapir, a senior fellow at the Bruegel research institute in Brussels, said budget policy in the U.S. plays partly the role that Europe's welfare system plays because the American welfare system is less generous and a recession can be much harsher on workers.

[Newest Reality]

1. Yup.

The contrast is the thing.

Too much Republicanism here. They disinfect and bleach away the welfare of the people and the safety nets and then shine what's left with premium, 100% impure snake oil.