Thread by @ASlavitt

COVID Update November 19: Here’s the idea. It’s a 3 pronged patriotic appeal here for Americans: #BarBonds.

Buy bonds. Save lives. Save businesses. (And eat and drink.)1/

We are at a watershed moment in the response to COVID-19. 1900 deaths
175,000 cases

Per day & worsening

Alarming rates. Winter months are coming. Holidays. Fatigue. Hospitals are nearing the point in many places where caring for patients will be difficult. 2/

Belatedly, state governors are beginning to act. Those that are acting consistently are in much better shape.

They are beginning to take actions on everything from small gatherings to mask mandates to limiting bars & restaurants. Often late. Reluctantly. 3/

Source @nytimes

Bars, restaurants & gyms are a major source of outbreaks. Little ventilation, higher propensity 4 people with COVID, loud talking, exhaling, difficulty keeping masks on.

These are some of our favorite places. (I could do without the gym TBH). No one wants them out of business.4/

Germany is covering the losses of bars while they are forced to be closed. Sounds logical. So of course, that would happen here...5/

slate.com/business/2020/…

This has been Congress’s job. But their interest has long-expired. Mitch McConnell & the GOP have decided no help for renters, students, nurses, small business owners, bars & restaurants, or schools.

Not our finest national moment. 6/

Here’s the idea. Maybe simple. Maybe crazy. So when Congress fails to act, we need to act on our own.

States would issue Bar Bonds. Bonds in small enough denominations that the public could buy them. The money would go to small biz designated by the state health commissioner. 7/

The buyer would get a typical interest rate & as a kicker a 15% discount at all the effected bars, restaurants & gyms when the emergency is declared over. 8/

States can issue “I bought bar bonds” bumper stickers & masks. That may sound frivolous, but so many people want to contribute & inspire others to contribute. 9/

I’ve spent the last week talking to bond issuers, state budget officers, state legislatures, and governors. Each state has different bonding rules and bonding authority.

This would take the governor calling the legislature to grant special bonding authority. 10/

Because it would take a while to put into action, legislatures would grant governors immediate ability to deficit spend with the bonds as a back stop.11/

As governors announce these temporary restrictions, it’s not possible to protect everyone. But small business owners should not carry the burden of the pandemic without help. 12/

Governors should dare their legislatures to support this on a bipartisan basis. Pro health? Support #BarBonds. Pro business? Support #BarBonds. Pro-country? Support #BarBonds. 13/

Bigger picture the country won’t get where we need to get by continue to have us constantly against things.

Anti-mask
Anti-anti-maskers
Anti-test
Anti-contact tracing

This idea won’t change the world but it does connect to some important points. 14/

People have a hard time relating to big national numbers but people care a lot about our local communities/establishments.
One way to address loneliness & depression is to be part of the process of helping. Like buying war bonds, this helps everyone participate. 15/

And our local establishments need every bit of support the airline or shipping industries want. But this isn’t a bailout. This is an act of community. 16/

We CANNOT just sit back and watch these businesses die any more than should be sitting back & watching friends or neighbors die. Time for governors to step up. Time for legislatures to stand up and say where they stand. 17/

I’m sure there are other better ideas. But let’s stop waiting on Congress. Call your legislatures to special session. Let’s try to do something positive.

When we get through this, we will be picking up the pieces of a much better country with more of us ready for business./end