Please read the attached articles and answer the following questions:

https://www.wsj.com/articles/whats-in-the-2-trillion-senate-coronavirus-bill-11585185450

1. The first WSJ article describes The Coronavirus Aid, Relief and Economic Security Act (CARES Act), passed by the US Congress and signed by the president on March 27, 2020, a massive fiscal response to the economic fallout caused by the COVID pandemic. This stimulus package consists of three broad categories, loans, supplemental aid, and direct relief, which are further divided into subcategories. What's the largest subcategory of the package? What's the total aid to households? How are large business and small business helped? How are state and local governments helped?

2. Airlines and cargo carriers carve out a special subcategory in the bill. What's amount of total aid, direct or loans, to the airlines? Do you think that's fair and did it really help the airlines? (you can search for recent headlines involving United or other airlines)

3. The second WSJ article describes trends in household income and spending in the months following the massive fiscal stimulus. Think about savings shifts, or Ricardian equivalence as described in this week's lecture. Do you see an evidence of savings shifts after the passing of stimulus package in March? Please explain.