Boston Globe ($)
In case of economic emergency: break glass
Less than a decade later, Congress has authorized an even more enormous bailout. This time, the legislative process has been even more complicated. Congress once again scrambled, drafting legislation to address both the public health and economic emergencies stemming from COVID-19. So far it has rushed through five separate relief bills in a matter of months because each successive bill was insufficient to address not only the public health crisis but also the economic crisis. Congress will now likely take up a sixth bill in late July, in part to deal with the imminent expiration of expanded unemployment insurance benefits.
Recent coronavirus bailouts come after the bailouts of the 2008 financial crisis. Here a trio of academics propose that policymakers take a page out of the playbook of disaster management and have plans ready to implement swiftly before a crisis arises.