Your response is very interesting. My position is that the economic and political systems that we have are now at the end of the viability just as the US as an imperial force has already fallen. Those are normal historical events. The failure to recognize these events is not unusual but cause endless grief both internally to the empire and externally as the planet goes through periods of intense change,
The pause button is what has been done in the name of public health but the contractual payments focused on the lowest economic level do not stop. In grossly incompetent or poor countries this creates great hardship and death and that is now happening in the US. But other wealthy countries have or are implementing versions of Universal Basic Income.
This seems the simplest and best long term solution as it will reallocate the vast consolidation of capital in very few hands. This is a major structural failure of uncontrolled capitalist systems. Only the financial system grows and not the economy and flow of assets to the population,
There are many ways to do UBI but I see your pause button as one short term version. Rather than using the current, and failing, US model of small increases in unemployment insurance plus taxpayer grants that misses the neediest, a pause button is being used by Italy for mortgage payments.
The effort to implement what you suggest has been introduced as a bill by Ilhan Omar. This would be a necessary addition to a broader UBI while also greatly simplifying the vastly confusing structure of tax credits, welfare payments, SNAP, and inadequate public health and services.