Heading toward the economic cliff

It’s like a truck barreling down the road, heading for a cliff. We can all see it happening, but no one is willing to do anything about it. The U.S. economy is heading for that cliff as Congress has yet to approve a second coronavirus stimulus package. Yet, without government assistance, many are going over that cliff. Remaining unemployment insurance benefits will expire by the first of the year. Millions in the U.S. could face evictions without protections from the government. Small  businesses are barely hanging on and could use another round of the popular paycheck protection program. Help with student loan debt expires at the first of the year. If Congress doesn’t provide financial assistance to states there will be more trouble. Local and state governments have seen reductions in sales and income taxes. That means less money to spend on city services and city employees. They have less money to keep people safe, like helping the homeless. There is no question what is happening. We can see it in front of our faces. More businesses will close, more people will be out of work, and more people will be living on the streets. If Washington doesn’t provide a lifeline, that cliff will be upon us very soon.