* President-elect Joe Biden said he will ask Congress to green-light another $1.9 trillion in COVID-19 relief funds
* Biden unveiled broad details of a rescue package he wants implemented once he's sworn in during a primetime speech in Wilmington Thursday night
* He'll ask Congress for $1,400 more for relief checks, making the total $2,000 like President Donald Trump demanded, and boost unemployment dollars
* Biden's plan also outlines loftier goals, like implementing a national $15 minimum wage, which was a campaign promise
* The president-elect would like to see $160 billion go toward a national vaccination program from the $400 billion fund he wants for COVID
* Incoming senior administration officials called the vaccine roll-out under Trump 'worse than we could have imagined,' while Biden said it was 'dismal'
* The Biden team believes that they'll still be able to vaccinate 100 million Americans within the Democrat's first 100 days
President-elect Joe Biden asked Congress to green-light another $1.9 trillion in spending to rescue the country from the COVID-19 crisis during a primetime address Thursday night from Wilmington.
'I look forward to working with members of Congress in both parties to move quickly to get the American rescue plan to the American people,' Biden said in a speech at the Queen theater.
Biden unveiled the broad strokes of a rescue plan that includes items that will likely have some bipartisan support - like an additional $1,400 for Americans - boosting the total to the $2,000 per adult President Donald Trump demanded in December.
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WNU Editor: This is only the first of many relief bills. I am also sticking to my prediction that the Biden administration, with the support of Congress and some in the Republican Party, will end up spending a staggering $5 - $8 trillion by the end of this year .... President-Elect Biden Promises Trillions In Spending (January 8, 2021).
More News On President-Elect Joe Biden Unveiling His $1.9 Trillion COVID-19 Economic Package
Biden’s $1.9 trillion Covid relief plan calls for stimulus checks, unemployment support and more -- CNBC
Joe Biden Unveils $1.9 Trillion COVID Stimulus Plan -- Zero Hedge
1 comment:
Joe Biden is moving up in the world. He is going to break his personal best.
During Obama's 1st term he was put in charge of recovery. It was so successful we had not one, but two... count them two summers of recovery.
It was the slowest recovery from recession ever.
Now in Obama's 3rd term, Biden is shooting for not a world record in a slow bounce back, but making the dollar as worthless as a America's 1st currency, the Continental.
Three or more years ago or so we were worried that the Dollar would lose reserve currency standards. It did not happen. It was reasoned that sure America's financial house sucked, but it was still the best game in town. So America survived.
We might not be so lucky this time around. We might get double digit inflation for a year or two or worse.
There is one silver lining to losing reserve currency status. When the ruling party runs a fiscal government deficit, inflation occurs. People hurt. If they raise taxes to close the deficit again people hurt. In the end government has to be efficient. It could take a few years, a few decades, or never.
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