This memo explains why policy makers now need to provide approximately $ 3 trillion in debt-financed financial assistance, with the first $ 2 trillion hitting the economy between now and mid-2022. These upfront incentives, coupled with investments that ensure a very slow phasing out of this fiscal support, are needed to ensure a return to a labor market of high pressure and low unemployment by mid-2022. In particular, the memo urges policy makers to take the following actions:
Financing financial support with debt (…)
Aim for a high pressure labor market by choosing an ambitious unemployment rate target that defines the health of the labor market. (…)
Refuse to accept the self-destructive notion that the COVID-19 shock will (or has already left) permanent and irreparable economic scars. (…)
Avoid premature and steep tax relief withdrawals by increasing public investment in public goods that are suitable for leverage even in times of economic health. For future crises sake, we should also start creating automatic triggers for things like unemployment insurance and aid to state and local governments. (…)
Finally, note that this $ 3 trillion in financial assistance is going to help meet the economic goals. Money is clearly still needed to contain viruses and will be needed in the coming months to get vaccines up and running quickly. Public health action is the most important part of responding to the pandemic. Therefore, any money that can meaningfully help in this regard should be added economically Package of Relief and Recovery. (…)
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"The good hand of God aided our beginnings by sweeping away a great number of the natives … so that He could make way for us." ~~ William Bradford, a founder and governor of the Plymouth Colony.
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At Daily Kos that day in 2012– There was no "war on coal", but there should be. Just not on the backs of miners. Delay is refusal:
Coal is a disaster for the climate, and while it provides well-paying jobs in areas where there are often no others, it is also a disaster for the coal communities and miners. For these reasons, in light of his last successful election campaign, President Obama should do his utmost to enact regulations that will force an end to most of the coal industry – a ban on the removal of mountain tops, regulations that control CO2 Emissions from existing plants, more resources to enforce health and safety regulations while coal is still being mined, the installation of all the barriers that the executive branch has on the path to increasing U.S. coal exports and negotiating a pact without exports with the rest of the leaders Exporters of the world (Russia, Australia, Indonesia). He should also find various innovative means to assist miners and other coal company employees and invest in the futures who will lose their livelihoods if coal production is scaled back.