The US economy is going to be successful by the end of 2021, even after the coronavirus setback. Arthur Laffer, an economic adviser suggests that the American economy is going to thrive in 2021 and will be very strong.
The economy has to fight a lot of barriers as of now, because of the rising cases of coronavirus. It cannot be said with certainty about how the economy is going to turn up after the lockdown.
But one thing can be said with certainty that the economy is going to thrive as compared to the year 2020. Many people have lost their jobs due to the pandemic and they will be re-employed in 2021.
Pfizer’s vaccine for coronavirus is a step in a positive direction and this will help the economy of the US as well. Once the people started getting vaccinated, the country can come back to its normal state.
Pfizer’s vaccine is considered to be effective against the coronavirus and the FDA is currently reviewing it. These vaccine shots are considered to be 95% effective and can prevent mild symptoms of COVID-19.
It is believed that the economy can only be made strong after the pandemic, if subsidies are given to the people. Certain relief programs are going on national and state levels to secure the people’s interests and their businesses.
It is hoped that the government will not impose more taxes on the people to make the economy strong. This will be a step in the backward direction, because the economy can only thrive if people can do business freely.
People are likely to get their jobs back once the pandemic will be over and the businesses are back to normal. The decrease in the unemployment rate has already started showing signs that people will be re-employed.
Although the coronavirus cases are increasing daily, Pfizer’s vaccine is nothing short of a ray of hope for everybody. And this is the reason Laffer suggested that the economy is going to be the strongest in 2021.
The United States of America has to reassess its decisions about the economy before life comes back to normal. Joe Biden who will be inaugurated next month needs to take tough decisions about the economy.
His newly formed government will face multiple challenges in the economy. His timely decisions can lead the country to prosperity.