Elizabeth Warren: We need a grassroots stimulus package
Elizabeth Warren is a US senator from Massachusetts and a former Democratic candidate for president in 2020. The opinions expressed in this commentary are her own; view more opinion at CNN. (CNN)The coronavirus relief package awaiting a Senate vote should not be delayed, and we must pass it immediately. But we need to do more. The US is heading toward a recession, and Speaker Nancy Pelosi has already announced plans for an additional emergency response package. This is the right approach. We must act quickly to enact a major fiscal stimulus package that wards off economic disaster. This legislation must meet the challenge of the crisis we face by taking the next steps crucial to safeguarding our public health, including truly universal paid leave. And it must learn from the lessons of our response to the 2008 financial crash. During 2008, I watched first-hand as our government offered a no-strings-attached bailout to the same giant banks that had driven our economy over a cliff. Meanwhile, the government did too little for most homeowners facing foreclosure. In the years that followed, the big banks quickly returned to profitability, while countless American families struggled to recover. We can do better this time.