Economist Podcasts Cheques notes: getting America’s stimulus right
Feb 4, 2021
Henry Kerr, the Economics editor for The Economist, shares insights on the looming $1.9 trillion stimulus bill and its potential economic impact. He discusses the political hurdles Democrats face in passing the bill and the importance of targeted spending. Benjamin Sutherland, a Science and technology writer, dives into the pressing issue of space debris cleanup, exploring financial challenges and international cooperation needed for effective solutions. Together, they provide a deep dive into economic recovery and sustainability in a tumultuous era.
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US Pandemic Spending
- America has spent $4 trillion, nearly 20% of its GDP, on pandemic support.
- The key question is how much more stimulus is needed for the remainder of 2021.
Biden's Stimulus Plan
- Biden's $1.9 trillion stimulus plan includes $1,400 checks for most Americans, totaling $2,000 with previous payments.
- It also funds state and local governments, vaccines, testing, school reopening, and child poverty reduction.
Republican Counteroffer
- The Republican counteroffer of $600 billion proposes means-tested checks and excludes state and local government funding.
- It maintains funding for vaccines, testing, and healthcare.