March 30, 2020
Greetings from the Margazine!
This week, we’re mainly focusing on coronavirus in the US and its continued effects on the economy.
By: Kaelyn Dunnell
Coronavirus infections in the United States continue to grow.
As of Thursday, the US became the world leader in coronavirus infections, with over 155,000 infections and more than 2,800 deaths.
In response to the pandemic, many beaches and state parks in Orange County have closed:
Doheny State Beach
Huntington State Beach
San Clemente State Beach
San Onofre State Beach
Crystal Cove State Park
Bolsa Chica State Beach
Chino Hills State Park
The House of Representatives passes a $2 trillion stimulus package to stabilize the economy and provide financial relief to Americans. The Senate had already unanimously approved it. It is currently waiting for President Trump’s signature.
Hospitals across the nation are facing severe shortages of medical supplies, notably masks and ventilators.
The Trump administration has pulled back from a $1 billion deal with GM and Ventec Life Systems for critical life-saving ventilators; instead, they are considering using a government act to enforce GM to do so.
New York leads the nation in coronavirus infection, with an infection rate that doubles every three days.
Look to The Coronavirus: Fact vs. Fiction by Justina Brandt for a more in-depth description of the issue.
The stock market has a brief period of gain, before falling again.
Nearly 3.3 million people filed for unemployment benefits last week as Americans scramble to make ends meet.
Stocks fall back after a 3-day surge mid-last week.
Airline companies consider proposing a federal bailout to the industry on account of dropping profits.
Thus far, American Airlines has welcomed the idea of a bailout, but Southwest is unsure.
The US is facing the prospect of an incredible increase in the national debt on account of the coronavirus.
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