This extraordinary output-reducing measure reflects the fact that an extraordinary national disaster like Covid-19 requires extraordinary economic management. One key recommendation from this situation is that a temporary unconventional fiscal policy in 2022 is optimum for addressing the present extraordinary pandemic. Balancing between disaster relief and BBBThe budgetary allocation situation is analogous with one where a decrepit apartment building is on fire. The government budget in 2022 would naturally fund both a disaster relief package and a BBB package. In 2022, the need to be unusually quick in large-scale budget reallocations on the part of the government is evident.
