Biden’s $1.9tn Covid relief bill marks an end to four decades of Reaganism (signed by Schumer/Pelosi)

Analysis: Reagan’s presidency undermined faith in government. The stimulus package helps restore FDR’s legacy

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Joe Biden reflected recently on the last time a Democratic administration had to rescue an economy left in tatters by a Republican president.

“The economists told us we literally saved America from a depression,” Biden told the House Democratic Caucus last week. “But we didn’t adequately explain what we had done. Barack was so modest; he didn’t want to take, as he said, a ‘victory lap’. I kept saying, ‘Tell people what we did.’ He said, ‘We don’t have time. I’m not going to take a victory lap.’ And we paid a price for it, ironically, for that humility.”

The 46th US president is often lauded for his humility but don’t expect him to repeat Obama’s mistake. Once his $1.9tn coronavirus relief bill is signed, he is set to take an extended victory lap by travelling the country to promote it.

Biden will have short and long sales pitches. First, that help is on the way after the hellish year of a pandemic that has killed more than 528,000 people in the US and put many millions out of work.

The stimulus, among the biggest in history, includes $400bn to fund $1,400 direct payments to most Americans (unlike Donald Trump, Biden’s signature will not appear on the cheques), $350bn in aid to state and local governments and increased funding for vaccine distribution.

Politically, it is an open goal. The risks of inaction were immense; the risks of action are modest. Opinion polls show that three in four Americans support the stimulus, making congressional Republicans’ implacable opposition all the more jarring.  read more…

 

https://www.theguardian.com/us-news/2021/mar/10/joe-biden-covid-relief-bill-passed-analysis

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2 COMMENTS

  1. If you were to pay the tax on the over 1.9 trillion that would be around 9%, that is exactly what the relief bill gives to those who it is suppose to help. This is not a relief bill for Covid, it is marketed as a relief for Covid. The next concern or question is what is the 91% being spent to do? Nancy and the Congress states we, the people, have no business viewing the budget layout.

  2. Will Biden attempt to unfreeze global economy with this stimulus? Or will he cave in into another sinophobic russophobic stint?

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