Skip to content
Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

BIDEN STIMULUS CAN YIELD FULL EMPLOYMENT, YELLIN SAYS

President Biden’s $1.9-trillion stimulus plan could return the U.S. economy to full employment within a year, treasury secretary Janet Yellin said in an 18 February CNBC interview.
Even though the economy is showing signs of gradual recovery, the full $1.9 trillion is still essential, she argued.
“It’s very important to have a big package that addresses the pain this has caused – 15 million Americans behind on their rent, 24 million adults and 12 million children who don’t have enough to eat, small businesses failing,” she said.
The plan includes a $1,400 payment to every U.S. adult that “will help jump-start our economy, giving people money to spend when we can get out again and go back to our former lives,” Yellin added. 
“There’s a lot of families operating on the margin and these checks will really help them.”
Additional massive stimulus spending could spark inflation, she admitted, but “inflation has been very low for over a decade… it’s a risk but a risk that the Federal Reserve and others have the tools to address.”
“The greater risk is having this pandemic take a permanent, life-long toll on [people’s] lives and livelihoods.”
TREND FORECAST: Neither Congress nor the Biden administration has offered plans to tackle the massive deficits that Biden’s and previous stimulus spending have forged.
The U.S. budget deficit in fiscal 2021 will be $2.3 trillion, not including any new stimulus spending not yet approved by Congress, according to the Congressional Budget Office.
The higher the deficit, whether national, state, or city, politicians will push to raise taxes. Indeed, even Ms. Yellen said taxes “probably” will need to be increased to pay off the debt, saying “that would probably phase in slowly over time.”
As we have forecast, the higher the taxes rise, the stronger there will be for anti-tax, populist political movements. And, as we reported in this Trends Journal, the numbers prove a majority of the public is seeking an alternative to the establishment ruling parties. 
TREND FORECAST: In our 12 January article, “DEMOCRATS: IMPEACH TRUMP,” we had forecast this is the beginning of the formation of a new political party to replace the failing Republican Party. A recent 15 February Gallop poll confirmed our forecast, showing that a record-high 63 percent of Republicans favor a third party. 

Comments are closed.