Overview The purpose of the assignment is to apply the May, Can, Should Modle through analysis of a specific economic or Budget Policy

U.S Economic and Budget Policy: The American Rescue Plan Act of 2021

Defining the Problem

During 2020 and 2021 the United States was grappling with the ramifications of the COVID-19 pandemic and its implications for economic growth. In 2020, the United States experience unprecedented business and economic disruption. The country lost millions of jobs, businesses were shutdown, and many Americans lost their lives. Likewise, the pandemic created supply chain disruptions that limited the availability of critical products, equipment, and food items for Americans. All of these factors coalesced to create a worldwide recession that heavily impacted millions of individuals around the world (Altavilla, 2020).

In response, the United States enacted the American Rescue Plan Act of 2021 to mitigate many of the adverse circumstances prevailing throughout the nation. This economic and budget policy was unprecedented with both its size and scale of relief. From a budget perspective, the Act called for multiple stimulus payments to Americans along with the expansion of certain unemployment benefits on the state level. The act also included other budgetary expenditures related to personal protective equipment, ventilators, and hospital investments. Finally, from a budget perspective, the act also provided aid to small businesses who were facing financial difficulties as a result of the unparalleled disruption to their businesses (Anukoonwattaka, 2020)

May

The American Rescue Plan is heavily influenced by biblical principles and foundations. The first and most obvious is the responsibility to care for those who are less fortunate or are going through hardships. Here, taxpayers were...

These tax dollars were spent not only to help prop up the American economy but also to provide assistances to those who desperately needed the help. This is very akin to many of the principles of the bible. The most obvious correlation is the sacrifice Jesus made for the sins of all humanity. Here, he gave his life for the salvation of all mankind. Although the pandemic doesnt...…event that interest rates rise, causing debt service payments to increase. Likewise, inflation has been very robust due primarily to large stimulus efforts enacted from the policies discussed above. This all has the impact of creating an adverse financial environment into the future.

Practical feasibility

The resources required to implement the policy are numerous. For one, the infrastructure of the United States allows resources to be allocated to their highest and best use. This ultimately improves efficiency of resources and improves outcomes for society.

Should

To summarize, my position is that the American Rescue Act was a net positive for both society and the world. From a biblical standpoint, the act aligns with many of the core concepts and principles of the bible. Namely, the ability to look after and help other in need. Likewise the system of federalism allows the states to better allocate financial resources to entities that needed them. The plan is designed to help those, through no fault of their own, were disproportionately impacted by the pandemic. All in all the plan should be approved based on…