January 9, 2021

Biden Rolls Out Plan To Spend Trillions For Pandemic Relief


Surely this is more about paying off his cronies in poorly run liberal state governments, unions, community organizers and random Marxist groups than helping serfdom pay the rent…

(Reuters) – U.S. President-elect Joe Biden said Americans need more economic relief from the coronavirus pandemic now and that he will deliver a plan costing “trillions” of dollars next week.

He said the proposal includes relief for state and local governments grappling with the pandemic, as well as new support for people who lost their jobs or cannot afford rent.

Biden also called for raising the minimum wage to $15, a campaign promise, and for sending out $2,000 in direct cash payments.

“We need more direct relief flowing to families, small businesses, including finishing the job of getting people that $2,000 relief direct payment. $600 is simply not enough,” he said.

Biden’s initial plan was for a bill under $1 trillion but he said on Friday that “economic research confirms that with conditions like the crisis today, especially with such low interest rates, taking immediate action – even with deficit financing – is going to help the economy.”

Biden’s transition team also said on Friday that they are looking into other economic relief actions they can take unilaterally, including extending a pause on repayments of federal student loans.

Good ol’ deficit financing saves the day…

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