A man preparing to show you the money. Photo: Tasos Katopodis/Getty Images Joe Biden won't take office for another five days, but he's already told Congress to start warming up the money printer. On Thursday night, the president-elect unveiled his $1.9 trillion COVID-19 rescue package. The proposal is historically large, refreshingly progressive, needlessly complicated, lamentably incomplete, and, unless Biden has blackmail material on 10 Republican senators, almost certainly dead on arrival in the Senate if the administration sticks to its current legislative strategy. If you're looking for a more detailed summary of the plan's merits and flaws than that sentence provided, here's a rundown of what's good, bad, and odd about the next president's first agenda item: It suggests the Democratic Party is finally recovering from its debilitating deficit-phobia. The last time a Democratic president came to power, America's official unemployment rate stood at 8.1 percent. Average household wealth in the U.S. had just plunged. The global financial system had gone shaky at the knees. Meanwhile, America's national debt was $9 trillion, or roughly 60 percent of GDP. And with Democrats in control of the presidency, a filibuster-proof majority in the Senate, and a large majority in the House, they… Read full this story
- Biden Is Planning an FDR-Size Presidency
- Will Joe Biden Let the Senate Kill His Presidency?
- Ex-Inslee staffers launch climate group with $1.5T stimulus proposal
- Joe Biden Owned a Hedge-Fund Billionaire Who Mocked Him Over His Late Son
- GOP seeks to go on offense using Flynn against Biden
- Young progressives aren’t thrilled about Biden. Some fear that will help Trump, again
- Sen. Ron Johnson to Request Biden, Other Obama-Era Officials Testify on ‘Unmasking’
- List of Obama Officials Who May Have ‘Unmasked’ Michael Flynn Includes Joe Biden
- Biden backs rent, mortgage forgiveness during coronavirus pandemic
- In Looking Toward 2021, Biden Needs to Understand Obama’s Failures in 2009
The Good, the Bad, and the Odd in Biden’s Stimulus Plan have 317 words, post on nymag.com at January 15, 2021. This is cached page on X-Buy. If you want remove this page, please contact us.