Biden's 1.9 Trillion plan is good; Republican counter offer is not only bad economics, but disingenuous
I just read about the Republican moderates counter offer of a $600 billion "stimulus". Here is my almost over the character limit response/comment that I left at the WaPo. No Deal. 600b is simply not enough to offset the loss of demand. It will result in the kind of uneven and slow recovery we had in 2009-2011, which is precisely what R's want to happen so they can run their campaigns; at the expense of the American people yet again. So much demand has been lost, that 1.9 tril may be too low. The only impediment to 1.9 tril is inflation and Powell said that a bit of inflation would actually be a good thing. We do NOT need to worry about paying for it - we are the sole creator of our own currency, can never go insolvent. So paying for it is NOT the question. The question is: is it a good idea? Child care tax credit cuts child poverty in half. YES Essentially universal checks guarantee that everyone who has been hurt by this virus g...