U.S. President-elect Joe Biden, a member of the Coronavirus Task Force, said Wednesday that the United States can cope with the pandemic by imposing greater economic isolation. He believes a tough lockdown with a government compensating workers for lost wages will defeat the virus in 4-6 weeks.
Osterholm suggested this idea in an interview with Yahoo Finance, explaining that closing small and medium-sized businesses in 4-6 weeks could reduce the number of infections. He believes that the federal government can use borrowed money to pay for such a quarantine package. “If you look at the level of personal savings in this country, it rose from 8 to 22 percent. We have a large pool of money that we can borrow,” Osterholm said.
“We could pay for the package right now to cover the entire salary, the loss of wages of individual workers, losses from small and medium-sized companies,” the expert suggests. Osterholm, director of the Center for Infectious Diseases and Policy at the University of Minnesota, said other countries in Asia, as well as New Zealand and Australia, have imposed similar restrictions.