On the recordDecember 21, 2020
9 months ago, in March, we created the relief known as the CARES Act, and it passed the Senate by a vote of 96 to 0. It was a measure intended to address the pandemic and the resultant economic downturn in America. I have heard various estimates of the total cost, but it is somewhere in the range of $2 trillion to $3 trillion. It was the largest single investment in our Nation in our history. It was a massive national response to a massive national health crisis, and it worked, at least on the economic front. I believe that it created demand in our economy that otherwise would not have been there, and it gave some businesses a chance to survive. Sadly, all did not, and many are still suffering. But it was necessary. It was done on a bipartisan basis. It was massive, and I believe it achieved its goal. It started us on the course of dealing with the COVID-19 coronavirus, and one has to look back and say it only had limited success in that regard. As of today, we have lost more than 317,000 American lives, and millions have been infected. Our hospitals are still overrun with patients. But we did the right thing, and we quickly realized what we did could make a difference. The unemployment compensation, which we provided for millions of Americans, was not only the humane thing to do but, as economists would tell you, it was the best single thing you could do to fight a recession.…





