Our country is now facing its worst crisis in modern history. We are in the midst of a COVID-19 pandemic that could lead to the death of hundreds of thousands of Americans and infect millions of others, and we are entering an economic downturn that could be worse than the Great Depression of the 1930s.
Last week, 3.3 million Americans filed for unemployment. This week that number doubled to 6.6 million claims ten times higher than any other week on record. It is certain that well over 10 million people have lost their jobs more than in the Wall Street crash of 2008.
In this unprecedented moment in modern American history, it is imperative that we respond in an unprecedented way. And that means that Congress must pass, in the very near future, the boldest piece of legislation ever written in modern history.
There are many, many issues that must be addressed in our response to this pandemic, and working together, we will make sure they are addressed.
But today, I am outlining a set of six core provisions that must be included in the next legislation Congress passes to support working people in this country during this horrific crisis. Please read them and add your name to say that you agree:
1. Addressing the Employment Crisis and Providing Immediate Financial Relief
There is little doubt in my mind that we are facing an economic crisis that could be even worse than the Great Depression. The St. Louis Federal Reserve has projected that 47 million more people may become unemployed by the end of June, with unemployment reaching 32 percent. In my view, we must make sure that every worker in America continues to receive their paycheck during this crisis and we must provide immediate financial relief to everyone in this country.
An important precedent for that approach was taken in the recent stimulus package in which grants were provided to the airlines for the sole purpose of maintaining the paychecks and benefits of some 2 million workers in that industry through September 30. We must expand that program to cover every worker in America and we must make it retroactive to the beginning of this crisis. This is not a radical idea. Other countries, such as the UK, Norway, Denmark, France, and others have all come up with similar approaches to sustain their economy and prevent workers from losing their jobs.
Our primary goal during this crisis must be to prevent the disintegration of the American economy. It will be much easier and less expensive to prevent the collapse of the economy than trying to put it back together after it collapses.
To do this, we must also begin monthly payments of $2,000 for every man, woman, and child in our country, and guarantee paid family leave throughout this crisis so that people who are sick do not face the choice of infecting others or losing their job.
2. We Must Guarantee Health Care to All
Let's be clear: we were facing a catastrophic health care crisis before the pandemic, and now that crisis has become much, much worse. Already, 87 million people are uninsured or underinsured. Layoffs will mean tens of millions of people more will lose their current insurance which will result in countless deaths and bankruptcies. Already in the last two weeks, an estimated 3.5 million people have lost their employer-sponsored insurance.
And as the pandemic grows, we are seeing more and more reports of people who have delayed treatment due to concerns about cost. In this pandemic, uninsurance will lead to deaths and more COVID-19 transmissions.
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