Phase 3 - COVID - Nov, 20; Dec 20; March, 2021
The latest COVID stimulus package continues to be debated by the US Congress & President Trump. Getting a package agreed upon and signed before the election did not happen. Then Congress tried before the inauguration, still no go. Now they have a $1.9T bill passed by the Senate, likely to be passed by the House the week of March 8, 2021.

Has The American Rescue Plan Helped or Hurt Hiring/Economy?

from The Gray Area:

The American Rescue Plan Act (ARPA) from President Biden and the congressional Democrats promised job growth and expanding economy. They are trying to take credit for the economic growth we are having and pointing to the ARPA. Is that true? NO. The Congressional Budget Office (CBO) issued its economic outlook and projected 6.252 million jobs would be added in 2021 without ARPA. The White House then projected ARPA would add 4 million additional jobs for a total of 10.252 million more jobs in 2021. None of this happened. According to the U.S. Department of Labor, the economy added just 6.116 million jobs in 2021, 136,000 fewer jobs than the CBO estimated without ARPA. At a cost of $1.9 trillion! Yeah, but it was Omicron that help things back! Certainly Omicron did have an impact, but mostly on states that locked down again or continued to lock down. The ARPA law added to the national debt and provided no jobs. Government gets its money from the American people, which means whenever it spends money, it is a net drain on the economy. The more government spends, the greater the burden on Americans. This was evident in the 2008-09 Great Recession and the slow recovery that followed. Despite record spending by the federal government (once again called stimulus), the economy recovered at the slowest pace since the Great Depression of the 1930s.See the report below for more details:

from TPPF,

What To Know: Only four states have regained the jobs lost to the COVID-19 pandemic and government shutdowns. The TPPF Take: What’s clear is that all that government “stimulus” didn’t stimulate job recovery. “The American Rescue Plan Act is just the latest in a long line of massive government spending programs that were billed as stimulus for the economy, but only stimulated more government,” says TPPF’s E.J. Antoni. “That is something to keep in mind the next time Washington promises us more jobs.”

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