GUEST: DAN CELIA, CEO/President, Financial Issues Stewardship Ministries
For wisdom is protection just as money is protection, but the advantage of knowledge is that wisdom preserves the lives of its possessors. Ecclesiastes 7:12
The coronavirus continues to wreak havoc all over the globe, partly from the virus itself but perhaps more from the societal shutdowns that have been instituted by governments.
As businesses, schools, and other institutions have been forced to close, people are losing jobs or becoming unemployed. Fearing economic catastrophe, Congress crafted and President Trump signed a $2 trillion “rescue package” this week that is intended to keep workers and companies from being bankrupted.
This rescue package is the largest in history, and after all is said in done, could add $6 trillion to our current $23 trillion national debt.
So where is this money coming from? What will be the ramifications of injecting this astronomical amount of money into the economy? Is it really necessary? Does our national debt matter? And above all, will it be a cure or a killer to our nation, even changing the balance of power in the world?
Dan Celia, an economist and president of Financial Issues Stewardship Ministries, joins us this weekend on The Christian Worldview to discuss the economic ramifications of the coronavirus. We hope you find his perspective helpful, not only about the nation’s economy but about what you should be doing financially as well.
Short Take: Why is the $2.2 trillion rescue package necessary?
Short Take: What impact will the government rescue package have on inflation and our national debt?
Short Take: Is China benefiting from the U.S. downturn due to the coronavirus?
Short Take: What should people be doing financially right now?