Late Wednesday, the Senate finally passed its Coronavirus Aid, Relief, and Economic Security Act (or CARES Act) -- and that's great news. The $2 trillion economic stimulus provided by the CARES Act will help small businesses cover their payrolls, make available $500 billion in loans to larger enterprises such as plane engine maker General Electric (NYSE: GE), motorcycle manufacturer Harley-Davidson (NYSE: HOG), and car engine specialist BorgWarner (NYSE: BWA), all of which are also hurting for sales in this present crisis, and put cash money in the pockets of consumers who are prevented from earning a paycheck during enforced "social distancing."
But then the other shoe dropped: the reason we need the largest economic stimulus package in American history.
According to the latest data from Johns Hopkins University, there are now more than 558,000 confirmed cases of coronavirus worldwide -- and the U.S. has more than any other country, over 86,000.