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Politics The ridiculous economic stimulus

23:30  01 december  2020
23:30  01 december  2020 Source:   thehill.com

Many stimulus programs are due to expire at the end of 2020, threatening the US economy during the COVID-19 pandemic's most challenging phase

  Many stimulus programs are due to expire at the end of 2020, threatening the US economy during the COVID-19 pandemic's most challenging phase As Americans enter some of the most challenging weeks of the COVID-19 pandemic, a number of economic relief programs are due to end.In March, during the early days of the coronavirus pandemic, the $2 trillion Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, easily passed both houses of Congress with bipartisan support, providing a lifeline to recently laid-off employees and businesses that were forced to close due to COVID-related shutdowns.

In economics, stimulus refers to attempts to use monetary or fiscal policy (or stabilization policy in general) to stimulate the economy . Stimulus can also refer to monetary policies like lowering interest rates and quantitative easing.

Economic stimulus refers to attempts by governments or government agencies to financially kickstart growth during a difficult economic period. Economists still argue over the usefulness of coordinated economic stimulus , with some claiming that in the long run it can do more harm than short-term good.

The country does not need another stimulus bill, and it certainly does not need the absurd $3 trillion bill that House Speaker Nancy Pelosi wants to load on the backs of future generations. Even this latest "slimmed down" $1 trillion bill that a bipartisan group in the Senate proposed this week is a dud. We simply do not need a penny more from government assistance.

a close up of a person wearing a costume: The ridiculous economic stimulus © Bonnie Cash The ridiculous economic stimulus

American output soared by a record 33 percent in the third quarter and is on pace to increase by another 11 percent in the fourth quarter, data from the Federal Reserve Bank of Atlanta finds. There is no need for a $1 trillion cherry on top of this sundae. Unemployment has fallen to below 7 percent after a high of 14 percent earlier during the pandemic. Numerous experts predicted it would not be until 2022 until we had unemployment that low. We have never seen a swifter recovery from recession in our lifetimes.

Economists are calling for more stimulus checks. Here's where assistance plans stand

  Economists are calling for more stimulus checks. Here's where assistance plans stand As coronavirus stimulus aid has stalled, one group of prominent economists is calling for a second set of stimulus checks to help ease Americans' burden.But lawmakers on Capitol Hill still need to work out their differences before they can approve another coronavirus stimulus package that will trigger those payments.

Nancy Pelosi and other House Democrats are putting together the next stimulus package right now. They might include a proposal that has already been circulating in Congress to provide a second round of monthly stimulus checks.

Read more about economic stimulus Because the United States is either already in a recession or is headed for one, policy makers need to act now to craft an effective economic stimulus package to spur growth and job creation. Without a stimulus of sufficient magnitude, the U.S

What is really amazing about this economic rocketship is that it is soaring without a single penny of new "stimulus" money that we were all told was essential with the recovery from the coronavirus downturn. There are still millions of workers who lost jobs and businesses that have shuttered, but lots of that is due to the lockdowns by governors in mostly blue states.

The $3 trillion bill proposed by Democrats over the summer was viewed by economists in academia and on Wall Street as an absolute necessity to prevent the financial system from crashing. President Trump wisely said no as the economy picked up steam over the next few months. The stock market had hit record highs. Even the notion of "stimulus" is misguided. The only way the government can stimulate my income is to destimulate your income. There is no free lunch here because debts must be paid.

COVID-19 relief: Biden's executive actions if a stimulus package doesn't pass soon

  COVID-19 relief: Biden's executive actions if a stimulus package doesn't pass soon When President-elect Joe Biden takes office on Jan. 20, he could sign an executive order if there's no bill before then.How much aid could President-elect Joe Biden provide through executive orders?

“The most important thing now is economic expectations and the amount of money in the system still to be invested. Euro deals are having strong demand and the ECB continues to buy corporate credit”European primary issuance continued apace on Friday, with eight new deals in the market

Find economic stimulus stock images in HD and millions of other royalty-free stock photos, illustrations and vectors in the Shutterstock collection. Thousands of new, high-quality pictures added every day.

However, the bipartisan compromise bill shells out more than $200 billion government stimulus for a bailout of blue states. That is especially unfair to red states like Texas, Georgia, Florida, and Nebraska that have reached nearly full employment by keeping their businesses running, their nursing homes safe, and their budgets balanced during these challenging times.

I am opposed to a new stimulus bill. If there is one, however, Republicans must insist that every penny goes to people instead of politicians. For the heroic first responders and health care workers, the best way to help out would be to give them an 8 percent pay raise by suspending the payroll tax for six months, but of course Democrats have vetoed that proposal.

The worst way to help anyone is the bipartisan idea of another 18 weeks of $300 bonus benefits in addition to normal unemployment payments. This would offer about half of all workers without jobs more money for staying at home on the couch than going back to businesses. The Committee to Unleash Prosperity has a new study that estimates this feature of paying people not to work will reduce employment by at least four million jobs. That is some "stimulus" for the country. It makes no sense for workers.

Calls Grow for Pelosi, Schumer to Accept Smaller Initial Stimulus Deal

  Calls Grow for Pelosi, Schumer to Accept Smaller Initial Stimulus Deal Pressure mounts as the stalemate over a further relief package continues, with a bipartisan deal yet to be made despite each side advocating stimulus in some form.Former Chairman of the Council of Economic Advisers Austan Goolsbee, who advised the Obama administration, told CNN that he feels something needs to be done soon in order to prevent a potential double-dip recession.

What are the economic stimulus check proposals? For this video I share update about if a second check is coming. The bill that brings a total of a

The US government is preparing to send out direct payments to help individuals amid the coronavirus pandemic, but those who need the money most may be waiting the longest to see it.

Billions of dollars for another bailout of the airlines is corporate welfare. The airlines have sufficient capital to weather the crisis. So shareholders must bear the costs instead of taxpayers. Indeed, the only stimulus that can truly supercharge the economy and end the current downturn is the vaccine. Every effort by Congress must make sure that every American who wants to take the vaccine will have access to it by early next year.

Trump would be foolish to sign a new stimulus bill. His vaccine effort and the economic recovery will leave a legacy of success in his time in office. If Joe Biden wants another bailout he can have it. Just remember that he was the mastermind behind the $1 trillion "shovel ready" stimulus bill of 2009, which clearly turned out to be a wounded duck that could not fly.

Stephen Moore is an adviser at Freedom Works and a member of the White House economic recovery task force. Find him on Twitter @StephenMoore.

Alexandria Ocasio-Cortez and Bernie Sanders call for another round of $1,200 stimulus checks that are excluded from the latest COVID-19 relief bill gaining momentum in Congress .
"If people don't get UI assistance, and if they don't get a stimulus check, then relief isn't going to be felt in their lives," AOC told NBC News.House Speaker Nancy Pelosi and other members of Democratic leadership have signaled their willingness to move forward with the relief legislation, despite their previous calls for a federal assistance package of at least $2.2 trillion.

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