Economist Podcasts Cheques imbalances: America’s partisan stimulus battle
Jul 20, 2020
Idris Kaloun, U.S. policy correspondent for The Economist, and Charlotte Howard, energy and commodities editor, dive deep into America’s economic stimulus debates. They discuss partisan divides in Congress over COVID-19 aid and how it stacks up against European strategies. The impact of low oil prices on the energy industry is explored, highlighting shifting regulations and the push for cleaner energy. They also examine the intriguing link between wealth and happiness, questioning if financial growth truly translates to well-being.
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COVID-19 Relief Debate
- Congress debates further COVID-19 relief amidst rising cases and deaths.
- Partisan disagreement centers on unemployment benefits and aid to states.
Stimulus Proposals
- Democrats propose $3.4 trillion, extending unemployment benefits and aid to states.
- Republicans favor a smaller ~$1.3 trillion package focused on work incentives and school reopening.
Welfare State Shift
- The pandemic has shifted the US towards a European-style system with enhanced unemployment benefits.
- Disagreement lies in the duration of these benefits, not their necessity.