అమెరికాలో సామాజిక భద్రత తక్కువ, సంక్షోభానికి ఇదే కారణం || US Behind Europe In Social Support ||
In Europe, the collapse in business activity is triggering wage support programmes that are keeping millions on the job, for now. In contrast, in the United States more than 33.5 million people have applied for jobless benefits and the unemployment rate has soared to 14.7%..
That is a pattern seen in earlier economic downturns, particularly the global financial crisis and the Great Recession. Europe depends on existing programmes kicking in that pump money into people’s pockets. The U.S., on the other hand, relies on Congress taking action by passing emergency stimulus programs, as it did in 2009 under President Barack Obama, and the recent rescue package under President Donald Trump.
In downturns, U.S. employees can lose their health insurance if they lose their job and there’s also a greater risk of losing one’s home through foreclosure. On the other hand, Europeans typically pay higher taxes, meaning they earn less in the good times. “In the U.S. you need to keep pumping money into the economy so that people continue to be employed, because it is through being employed that they are protected,” said Mr. Sapir.
https://www.thehindu.com/news/international/pandemic-exposes-uss-weak-social-safety-net/article31552444.ece
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అమెరికాలో సామాజిక భద్రత తక్కువ, సంక్షోభానికి ఇదే కారణం || US Behind Europe In Social Support || In Europe, the collapse in business activity is triggering wage support programmes that are keeping millions on the job, for now. In contrast, in the United States more than 33.5 million people have applied for jobless benefits and the unemployment rate has soared to 14.7%.. That is a pattern seen in earlier economic downturns, particularly the global financial crisis and the Great Recession. Europe depends on existing programmes kicking in that pump money into people’s pockets. The U.S., on the other hand, relies on Congress taking action by passing emergency stimulus programs, as it did in 2009 under President Barack Obama, and the recent rescue package under President Donald Trump. In downturns, U.S. employees can lose their health insurance if they lose their job and there’s also a greater risk of losing one’s home through foreclosure. On the other hand, Europeans typically pay higher taxes, meaning they earn less in the good times. “In the U.S. you need to keep pumping money into the economy so that people continue to be employed, because it is through being employed that they are protected,” said Mr. Sapir. https://www.thehindu.com/news/international/pandemic-exposes-uss-weak-social-safety-net/article31552444.ece