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Tag Archives: Stimulus (Economic)

How Democrats Learned to Seize the Day

A dozen years ago, just before Barack Obama was sworn in as president amid the Great Recession, I wrote a disconsolate column titled “The Obama Gap.” At a time when many viewed the president-elect as a transformational figure, I lamented the caution of his economic policy. His proposed stimulus, I argued, would fall well short of what was needed.Sadly, I was right. And as I also warned at the time, Obama didn’t get a second chance; the perceived failure of his economic policy, which mitigated...

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Fighting Covid Is Like Fighting a War

There has been some pushback from progressive pundits — most notably Larry Summers, but he’s not alone — against President Biden’s proposal for a very large Covid relief package. Before I get into the reasons I believe this pushback is misguided, let me say that it’s refreshing to discuss good-faith criticism coming from people who actually have some idea what they’re talking about, as opposed to the cynical, know-nothing obstructionism that has become the Republican norm.Nonetheless, the...

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The Republican Economic Plan Is an Insult

So 10 Republican senators are proposing an economic package that is supposed to be an alternative to President Biden’s American Rescue Plan. The proposal is only a third of the size of Biden’s plan and would in important ways cut the heart out of economic relief.Republicans, however, want Biden to give in to their wishes in the name of bipartisanship. Should he?No, no, 1.9 trillion times, no.It’s not just that the G.O.P. proposal is grotesquely inadequate for a nation still ravaged by the...

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Pandemic Rescue: It’s ‘And’ Not ‘Or’

President Biden is proposing a large relief package to deal with the continuing fallout from the coronavirus. The package is expansive, as it should be. But it is, predictably, facing demands that it be scaled back. Which, if any, of these demands have some validity?We can discount opposition from Republican leaders who have suddenly decided, after years of enabling deficits under Trump, that federal debt is a terrible thing. We’ve seen this movie before, during the Obama years: Republicans...

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The Corrupt, the Clueless and Joe Biden

The inauguration of Joe Biden and Kamala Harris was an astonishingly emotional moment. I know I wasn’t alone in suddenly, unexpectedly finding myself tearing up. For a little while it felt as if we were living in a dream — a dream about the nation we should be, a land of decency, honesty, justice and unity in diversity. (E pluribus unum, to coin a phrase.)But now the work begins, and it won’t be easy. Biden spoke movingly about unity, but let’s face it: He won’t sway many people in the other...

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Four Rules That Should Guide Bidenomics

Here we go again. For the second time in 12 years a newly elected Democratic president is inheriting an economy in deep distress. And while it’s hard to focus on such things after last week’s Trumpist putsch, a lot depends on whether Joe Biden’s plan to deal with our economic woes is effective.The narrow Democratic margin in Congress means that the most ambitious progressive goals will have to be put on hold. But the rescue package Biden unveiled Thursday already indicates he won’t exhibit...

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El asalto al Capitolio comenzó a fraguarse hace décadas

Un aspecto sorprendente del putsch (golpe de Estado en alemán) en el Capitolio fue que ninguna de las demandas de los asaltantes estaba afincada en la realidad.No, la elección no fue robada, no hay evidencia de un fraude electoral significativo. No, los demócratas no forman parte de una conspiración pedófila satánica. No, no son marxistas radicales, incluso, en cualquier otra democracia occidental, se consideraría que el ala progresista del partido solo se inclina de manera moderada a la...

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Things Will Get Better. Seriously.

The next few months will be hell in terms of politics, epidemiology and economics. But at some point in 2021 things will start getting better. And there’s good reason to believe that once the good news starts, the improvement in our condition will be much faster and continue much longer than many people expect.OK, one thing that probably won’t get better is the political scene. Day after day, Republicans — it’s not just Donald Trump — keep demonstrating that they’re worse than you could...

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2020 Was the Year Reaganism Died

Maybe it was the visuals that did it. It’s hard to know what aspects of reality make it into Donald Trump’s ever-shrinking bubble — and I’m happy to say that after Jan. 20 we won’t have to care about what goes on in his not-at-all beautiful mind — but it’s possible that he became aware of how he looked, playing golf as millions of desperate families lost their unemployment benefits.Whatever the reason, on Sunday he finally signed an economic relief bill that will, among other things, extend...

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The Ghost of Sabotage Future

The not-a-stimulus deal Congress reached over the weekend — seriously, this is about disaster relief, not boosting the economy — didn’t come a moment too soon. Actually, it came much too late: Crucial aid to many unemployed Americans and businesses expired months ago. But now some of that aid is back, for a while.True, the aid will be less generous than it was in the spring and summer: $300 a week in enhanced unemployment benefits, rather than $600. But because the workers still out of a job...

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