This past year has been devastating for many American businesses and families financially. With government-mandated lockdowns, unemployment has risen as businesses reduced their labor force or closed completely. We can argue on whether or not the lockdown mandates were necessary. Still, no matter which side of the argument you are on, it doesn’t change the fact that the lockdowns contributed to the current economic crisis we face in America.
Last week the NY Times wrote an article titled, “Should the Fed Guarantee You a Job?”. This isn’t the first time this idea has been proposed, but it is becoming highlighted due to the mass amounts of jobs lost from the pandemic. The current proposal is that the federal government would provide taxpayer-funded training for low-income or unemployed households. At the end of the training, participants would be guaranteed government jobs.