Regardless of the electoral outcome, doing nothing until February 2021 after a new Congress and President are sworn in could well plunge the country back toward the depths of March when a major depression seemed upon us.
Read moreThe Ugly Partisan Truth Behind President Trump's Stimulus Roadblock
That fact alone would suggest the need for further government stimulus, but hope for that faded after the president announced that he was uninterested in further stimulus bill until after the election, though he then backtracked and suggested he was open to some action.
Read moreWe Don't Just Need More Stimulus — We Need Smarter Stimulus
With the Republican-led Senate only just now unveiling its first draft of a next stimulus package and passage of a final bill dependent on weeks of arduous negotiations between Congress and the White House, the already-tenuous economic recovery just became more tenuous.
Read moreThe Fed's Unprecedented Bailout of Everyone and Everything Could Prevent Total Collapse
The Fed understood even before Congress that the health-crisis of the pandemic and the subsequent economic crisis caused by the shelter-in-place orders and shuttering of businesses, travel and events would easily morph into a financial crisis that could be magnitudes greater than what happened in 2008-2009.
Read moreThe Coronavirus Will End Conservative Dogma About Big Government Forever
The sheer urgency of the new coronavirus and its damage are overpowering free markets, shuttering businesses and triggering responses that only four weeks ago looked impractical, naive and socialist. Now, they are essential.
Read moreWhere Was Obama When the Middle Class Needed Him?
Six long years into presidency, Barack Obama has finally made the middle-class an explicit priority— placing “middle-class economics,” as he called it repeatedly in Tuesday’s State of the Union address, front and center on his agenda. But what the president is asking for may be too little and it’s arriving far too late. While his proposals are sensible— lowering the tax burden on middle-class families and expanding access to education, job training and retirement, in part by closing loopholes and raising taxes on capital gains—very few of them have much chance of passing.
Read moreStatistical Implications on Policy
Author Zachary Karabell uses an example from an Obama policy speech to illustrate how politicians falsely portray the state of the economy.
Read moreLarry Summers’ Stimulus Dream Right—But Impossible in Current Political Climate
Larry Summers, former treasury secretary, former president of Harvard and the former head of President Obama’s National Economic Council, made waves yesterday with an unequivocal and passionate call for a new round of stimulus to address what he rightly perceives as a weak recovery for American jobs and economic activity in general. In his view, the U.S. economy is hobbled by weak demand for goods and services, compounded of course, by high unemployment.
Read moreStimulating
After months of confusion, we are about to close a painful chapter in the economic crisis of 2008-2009. With the imminent passage of the $800 billion stimulus package combined with the roll-out of the next stages of the government-orchestrated bank bailout and recapitalization, we are about to end the talking phase and enter the doing phase. While no one can say for sure whether these plans will work, it’s certain that they will have an effect.
Read morePolitical Expert View - Is the Stimulus Plan Big Enough to Succed?
Political trends expert Zachary Karabell assesses the impact of a new economic-stimulus package and whether it will be big enough to succeed.
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