Mark Cuban on how the economy can recover from COVID-19 pandemic
Mark Cuban discusses what should be done to help the economy recover from the COVID-19 lockdown.
Video Transcript
MARK CUBAN: You've got to make it so people have confidence in their jobs, right? And--
JULIA LA ROCHE: Right.
MARK CUBAN: --we're going to have to have a transitional-- not permanent, transitional-- federal jobs program. And so we're going to need to hire people-- millions of people-- you know, preferably for testing, tracing, tracking, supporting vulnerable populations, long term care. You know, giving people jobs that they know are stable because that gives them the impetus to spend money.
Two, we're going to have to have a perfectly timed stimulus program. So what does that mean? Well, I talked about companies in suspended animation. You've got all these PPP companies that can't fully open, can't bring back the employees because they're making too much already. But that ends on July 31, right? That's when that-- the CARES program employment stimulus ends.
And so I think we need to do a debit card program where we give money, literally, to each household and have-- make it use it or lose it, whether it's $1,000 or $1,200 or whatever that number is, every couple of weeks and say, you have X number of days to use this debit card or you lose the money that's been deposited on there. Because by doing that and timing it right, that's going to create demand for these companies so they can afford to bring their employees back after they're off of all that unemployment CARES enhancement.
