The goal this article is to describe the economic impact of the COVID-19 pandemic, compare the situation in the United States (U.S.) to that of similar countries, and analyze the actions taken by the U.S. government. The authors chose to compare the U.S. to Canada, the United Kingdom, and Germany as these countries are similar to the U.S. in their economic structure and living standards. The authors hope these perspectives on costs as well as benefits of government action will provide teachers with a more in-depth understanding of the impact of COVID-19 on the U.S. economy.