There is talk about a $908 billion aid package possibly coming in the future. It is a bipartisan framework assembled by a group of senators. Economists have been calling for Congress to approve a stimulus for months. “The economic recovery, slowing for months, is in danger of going into reverse.” By no means is there any final plan for who it is distributed to, but “experts say the plan would provide relief to several battered corners of the economy. It includes nearly $300 billion for small-business aid, $180 billion for unemployed workers, and $160 billion for state, local and tribal governments.” Unfortunately, a plan this small won’t be able to help everyone who needs it, but it is a little boost. Biden said that even if Congress does reach a deal before the end of the year, he will be pushing more spending when he takes office. The package would extend the initial programs set to expire at the end of the year that expanded and extended the unemployment insurance program. Many restaurants and retailers made job cuts in November leading to the weakest monthly gain of recovery in unemployment data so far. At the moment, this plan would be more of a compromise and the goal is most likely to prevent millions of families from losing their income the week after Christmas based on the direction of the economy.
Tankersley, Jim, and Ben Casselman. A $900 Billion Plan Would Help the Economy, but Not Fix It. 4 Dec. 2020, www.nytimes.com/2020/12/04/business/economy/congress-stimulus-economy-impact.html
nothing is a quick fix for the economic woes we are experiencing but this would definitely help , most people need to under stand their is no quick fix for economic woes but it takes time
ReplyDeleteI agree with Noah, there is no quick fix out there to solve our economic instability. While this plan would certainly help small businesses, I believe it would do little for economy as a whole. The only real fix for our economy is getting out of this pandemic, and until the vaccine is widely accessible, production capacity will remain low and unemployment rates will stay high.
ReplyDeleteThe thing I don't understand is why congress is taking so long in determining a fiscal stimulus package during a time that an aid package is desperately needed. As was said above, this is no quick fix and it'll take years before any results from the packages are realized but any fiscal help will help those who continue to struggle post-lockdown.
ReplyDeleteAny money right now is better than no money. Without this aid package, many more people would be with out a job and the economy would sink. At least there is a continued effort from the government to try and help its citizens.
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