Business Innsider has the article Bernie Sanders aims ‘to prevent the collapse of the economy’ with new coronavirus spending priorities.
“So to prevent the collapse of the economy is far more humane and cost effective than rebuilding the economy after it collapses,” Sanders said on MSNBC Friday afternoon.
Bernie was right about a lot of things before the pandemic. Ironically, some of his ideas that were good before the pandemic might have problems during the pandemic. What he seems to be failing to take into account is that the capacity of the economy to produce goods and services is severely limited when so many people are not allowed to go to work. Bernie is planning to give people enough money to spend like they used to, but the economy is not able to produce like it used to. He has to recognize and address this obvious problem.
Maybe he and his experts can come up with something better, but the only things I have come up with so far is rationing, price controls, and a steep profiteering tax. These ideas are going to be very hard to sell to the public, but somebody has to start getting people to face reality.