(and what stimulus has the next president planned)?
We think the stockmarkets have already taken an advance on what is comming. The next days, possibly weeks will be good but when the final year reports come in we might be seeing a correction. Nevertheless president-elect Joe Biden said Friday he is assembling a multitrillion-dollar relief package that would boost stimulus payments for Americans to $2,000, extend unemployment insurance and send billions of dollars in aid to city and state governments, moving swiftly to address the nation’s deteriorating economic condition and the rampaging pandemic.
The package will also include billions of dollars to improve vaccine distribution and tens of millions of dollars for schools, as well as rent forbearance and assistance to small businesses, especially those in low-income communities, Biden said at a news conference in Wilmington, Del.
“We need to provide more immediate relief for families and businesses now,” Biden said.
“The price tag will be high,” he said, adding, “The overwhelming consensus among leading economists left, right and center is that in order to keep the economy from collapsing this year, getting much, much worse, we should be investing significant amounts of money right now.”
Biden said he would lay out the package in more detail next week. It would build on some $4 trillion in economic assistance Congress has already devoted to battling the devastating pandemic, including a $900 billion package President Trump signed into law last month.
Discussions were getting underway in earnest with Democratic leaders on Capitol Hill, with Biden aiming to move the package to a vote as quickly as possible. But in an early sign of the challenges Biden may face in getting his agenda through Congress, even with both chambers controlled by Democrats, Sen. Joe Manchin III (D-W.Va.) expressed skepticism Friday about the benefits of a new round of stimulus checks.
“I don’t know where in the hell $2,000 came from,” Manchin said. “I swear to God I don’t. That’s another $400 billion dollars.”
From: “The Washington post“