WASHINGTON - Advisers to President-elect Joe Biden are planning for the increasing likelihood that the United States economy is headed for a"double-dip" recession early next year.
The resulting impasse has threatened to delay additional economic aid until after Mr Biden's inauguration on Jan 20. "The Covid-19 pandemic and economic recession will not end without our help," Ms Pelosi and Mr Schumer wrote in a letter this month, asking Mr McConnell to resume negotiations."It is essential that this bill have sufficient funding and delivers meaningful relief to the many Americans who are suffering."
A readout from the meeting said Mr Biden and the other Democrats"agreed that Congress needed to pass a bipartisan emergency aid package in the lame-duck session" but did not indicate what size package was warranted. Economists close to Mr Biden and his campaign are circulating a spreadsheet containing new projections from Mr Zandi, which predict that the economy will begin to shrink again in the first half of next year unless lawmakers break a prolonged impasse in stimulus talks.
Mr Jared Bernstein, an economist at the Centre on Budget and Policy Priorities who was part of Mr Biden's inner circle of economic aides in the campaign, said that"speed, size and composition are all important" in a stimulus agreement,"but speed is especially important."
That’s CCP’s plan, put the whole world in recession!
Biden appears to be a good man. We will find out, I suppose. Supported the UK in 1982 against Argentina. Not the first time USA has sorted the Argies though. Lexington Raid 1831 Or 👇 p.101
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