In just the last two days, the idea that the federal government should simply give people money to help them through the coronavirus pandemic has been endorsed throughout the political spectrum.
Suddenly, it seems like everyone wants Uncle Sam to send Americans checks.
After all, a checks-in-the-mail stimulus is easy to explain, easy to execute and, for obvious reasons, popular with the public. It can pump money into the economic bloodstream faster than infrastructure projects or most other government programs. And unlike a payroll tax cut, which Trump had been pushing until Tuesday, it can provide help for vulnerable people who aren’t on a payroll. House Speaker Nancy Pelosi once helped get it done for another Republican president, George W. Bush.
The climate did not necessarily seem conducive to compromise. Bush had unilaterally announced a plan to send out checks to most Americans, but not to the working poor. Boehner wanted to stuff the plan with tax breaks for businesses, while Pelosi wanted spending programs for the needy.
Obama’s political advisers favored the politically attractive solution of sending every American a big check. His chief of staff, Rahm Emanuel, couldn’t wait for the “Ed McMahon moments” when voters would find Publishers Clearinghouse-style lottery winnings in their mailboxes. But Obama’s economic advisers warned that the recipients of one-time windfalls were more likely to save the money, and less likely to stimulate the economy by spending the money.
It is no coincidence that in early March, Jason Furman, Obama’s former top economist and a key architect of the Obama stimulus, was one of the first voices calling for a coronavirus stimulus that simply sent $1000 checks to all Americans—and he now thinks the checks should be even bigger, with additional checks to follow if the economy fails to revive.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jared Leto Emerges From 12-Day Meditation Retreat, Learns About CoronavirusJared Leto was social distancing so hard, and so effectively, that he didn't know about the worsening coronavirus crisis
Read more »
Dancing Is the Best ExerciseMaybe instead of lunch breaks we could have a dance breaks
Read more »
Love Island winner Paige Turley still hasn't received her £50,000 prize moneyLove Island winners Paige Turley and Finley Tapp still haven't received their £50,000 prize money a month on
Read more »
What Do You Do When Your Favorite Presidential Candidate Drops Out? Start a Book Club.For some of Andrew Yang's supporters, the next step is getting everyone on the same page.
Read more »
What Do You Do When Your Favorite Presidential Candidate Drops Out? Start a Book Club.For some of Andrew Yang's supporters, the next step is getting everyone on the same page.
Read more »