2/People are sleeping on how big a deal this bill is.
https://twitter.com/EricLevitz/status/1368233889823678464
3/Almost all of the bill is just "mailing out checks" in one form or another.
This indicates a general shift in econ policy that I think has been building for a while now -- a shift toward unconditional cash transfers.
Several things have motivated this shift.
This indicates a general shift in econ policy that I think has been building for a while now -- a shift toward unconditional cash transfers.
Several things have motivated this shift.
4/The most important part of the bill is the child allowance, which will give $3000-$3600 per kid to families. The intent is to make this permanent.
washingtonpost.com/us-policy/2021…
washingtonpost.com/us-policy/2021…
5/That's basically a UBI for families!
It's projected to cut child poverty in HALF.
npr.org/2021/02/26/970…
It's projected to cut child poverty in HALF.
npr.org/2021/02/26/970…
6/I think this tweet is a bit premature. But you can certainly feel the winds shifting, no?
https://twitter.com/jdcmedlock/status/1350143296459341826
7/Anyway, the relief bill mostly isn't about fiscal stimulus. BUT, it's projected to get us back to our pre-pandemic growth trend anyway.
8/This is a lot better than Obama's stimulus, which was only maybe a quarter as big as the money we've now spent on COVID relief.
We didn't make the same mistake this time. We went big!
We didn't make the same mistake this time. We went big!
9/So how did Biden get so many good things through a somewhat hostile Congress?
Well, @csilverandgold has a good theory. Basically, Biden did so many things at once that conservatives didn't know which things to focus opposition on!
Well, @csilverandgold has a good theory. Basically, Biden did so many things at once that conservatives didn't know which things to focus opposition on!
https://twitter.com/csilverandgold/status/1368598412485144583
10/So, Biden should keep this up.
11/So what's next on Biden's plate?
I think they'll try for a minimum wage hike later this year. But since it'll be subject to filibuster, I sadly think they'll end up compromising and going with something lower than $15...
I think they'll try for a minimum wage hike later this year. But since it'll be subject to filibuster, I sadly think they'll end up compromising and going with something lower than $15...
12/But the real fun begins when we get another budget reconciliation bill next fiscal year! Then we can do INVESTMENT AND INFRASTRUCTURE!!
thehill.com/homenews/admin…
thehill.com/homenews/admin…
13/This will basically be a low-key Green New Deal, just as this COVID relief bill contained the low-key return of welfare.
https://twitter.com/csilverandgold/status/1368600144543891456
15/If Biden can bring back the era of big government investment AND create a new welfare state of mostly-unconditional cash benefits...his presidency will go down in history as a truly transformative one.
(end)
noahpinion.substack.com/p/bidens-first…
(end)
noahpinion.substack.com/p/bidens-first…
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