We need to build a new American economy where everyone enjoys a fair return for their work and an equal chance to get ahead. Tune in as I introduce members of the team that will get it done. https://t.co/PAOu57i9j5
— Joe Biden (@JoeBiden) January 8, 2021
U.S. President-elect Joe Biden speaks as he announces members of economics and jobs team at his transition headquarters in Wilmington, Delaware, U.S., January 8, 2021. REUTERS/Kevin Lamarque
WASHINGTON (Reuters) - U.S. President-elect Joe Biden said his administration’s economic package will be in the trillions of dollars and include unemployment insurance and rent forbearance.
“It is necessary to spend the money now,” Biden told reporters. “The answer is yes, it will be in the trillions of dollars, an entire package.”
Read more ....
WNU Editor: More here .... "The Price Will Be High": Biden Calls For "Trillions" In Fiscal Stimulus (Zero Hedge).
What's my take.
I believe Joe Biden and his commitment to spend trillions of dollars.
I can also easily see a $5 - $8 trillion dollar deficit this year (if not more) and this is why.
$1 trillion for the elimination of student debt
$1 trillion in direct aid to families via through $2,000 checks.
$2 trillion for a revamped unemployment insurance and rent forbearance program
$3 trillion in aid to cities and states with impossible debt levels and unsustainable pension funds.
$1 trillion for projects that Democrats have always dreamed about.
.... and then there is quantitative easing and the trillions involved in that.
