US debt surged by $7 trillion under Trump. It will go much higher under Biden
3 years, 11 months ago

US debt surged by $7 trillion under Trump. It will go much higher under Biden

CNN  

New York CNN Business — President Donald Trump certainly lived up to his self-proclaimed status as the King of Debt during his term in office. “It seems quite premature to say we need another $2 trillion now given what we just passed,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a bipartisan fiscal watchdog group. Still, she acknowledged “we probably need to do more borrowing before it’s time to pivot away.” In early January, CRFB projected the US budget deficit would total $2.3 trillion for fiscal 2021, down from $3.1 trillion last fiscal year. “On every chance to make the fiscal situation better, this administration chose to make it worse.” $2,000 stimulus checks – but to whom? Last week, moderate Democrat Senator Joe Manchin initially told the Washington Post he was “absolutely” against $2,000 stimulus checks.

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History of this topic

Biden signs bill hiking US borrowing limit by $2.5 trillion
3 years ago

Biden signs bill hiking US borrowing limit by $2.5 trillion

Associated Press  

WASHINGTON — President Joe Biden on Thursday signed a bill raising the nation’s borrowing limit by $2.5 trillion, avoiding a potentially catastrophic default and resolving the turbulent issue until after the 2022 midterm elections. The House voted early Wednesday to raise the debt limit, amid urgent warnings from Treasury Secretary Janet Yellen that further delay would jeopardize the full faith …

Biden ‘positive’ on budget deal; Manchin OK with wealth tax
3 years, 1 month ago

Biden ‘positive’ on budget deal; Manchin OK with wealth tax

Associated Press  

WASHINGTON — Pivotal Democratic Sen. Joe Manchin appears to be on board with White House proposals for new taxes on billionaires and certain corporations to help pay for President Joe Biden’s scaled-back social services and climate change package. House Speaker Nancy Pelosi said that even at “half” the original $3.5 trillion proposed, Biden’s signature domestic initiative would be larger than …

Vote on Biden’s twin spending bills delayed anew amid impasse
3 years, 2 months ago

Vote on Biden’s twin spending bills delayed anew amid impasse

Al Jazeera  

US president makes rare visit to Congress but gesture fails to convince Democrats to compromise on twin spending bills. Democrats in the US Congress have withdrawn a planned vote on a $1.2-trillion infrastructure bill to transform the United States’s transport networks and broadband access, as lawmakers refused for a second day running to unite behind a twin spending bill estimated …

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan
3 years, 3 months ago

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan

NPR  

Democrats Hope To Undo Many Trump Tax Cuts To Fund Biden's $3.5 Trillion Budget Plan Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images Democrats hope to unwind many of the tax cuts Republicans enacted under former President Donald Trump as a way to pay for the majority of the $3.5 trillion spending bill currently under consideration in …

Manchin, Sanders At Odds Over Biden's $3.5 Trillion Economic Bill
3 years, 3 months ago

Manchin, Sanders At Odds Over Biden's $3.5 Trillion Economic Bill

Huff Post  

LOADING ERROR LOADING Sen. Joe Manchin on Sunday said he will not give fellow Democrats the vote needed to pass President Joe Biden’s $3.5 trillion economic rebuilding plan. Instead, he suggested that the deal be cut by more than half, which Sen. Bernie Sanders panned as “absolutely not acceptable.” In an interview with CNN’s Dana Bash on “State of the …

Joe Manchin says he won’t support $3.5 trillion economic bill, but would support closer to $1.5 trillion
3 years, 3 months ago

Joe Manchin says he won’t support $3.5 trillion economic bill, but would support closer to $1.5 trillion

CNN  

CNN — Democratic Sen. Joe Manchin said Sunday he will not support the $3.5 trillion price tag for the economic bill that would expand the nation’s social safety net and that “there’s no way” Congress can meet the timeline set by House Speaker Nancy Pelosi to pass it. “ will not have my vote on $3.5 and Chuck knows that, …

Joe Manchin urges Democrats to 'hit pause' on Biden's $3.5T budget
3 years, 3 months ago

Joe Manchin urges Democrats to 'hit pause' on Biden's $3.5T budget

Daily Mail  

Democratic Senator Joe Manchin hit the pause button on President Joe Biden's ambitious plan for a $3.5 trillion budget of social programs, saying he cannot support the legislation. Joe Manchin hit the pause button on President Joe Biden's ambitious plan for a $3.5 trillion budget of social programs In the 50-50 Senate, President Joe Biden needs every Democratic vote Lawmakers …

US House passes Joe Biden's $3.5 trillion budget plan after deal with moderates
3 years, 4 months ago

US House passes Joe Biden's $3.5 trillion budget plan after deal with moderates

India TV News  

Striking a deal with moderates, House Democratic leaders muscled President Joe Biden’s multitrillion-dollar budget blueprint over a key hurdle Tuesday, ending a risky standoff and putting the party’s domestic infrastructure agenda back on track. The 220-212 vote was a first move toward drafting Biden’s $3.5 trillion rebuilding plan this fall, and the narrow outcome, in the face of unanimous Republican …

How Much Credit Does Andrew Yang Get For All These Stimulus Checks?
3 years, 8 months ago

How Much Credit Does Andrew Yang Get For All These Stimulus Checks?

Huff Post  

LOADING ERROR LOADING It’s been one year since Congress first sent checks to almost everybody in America. But only one person staked an entire political candidacy on the idea of giving people money: Andrew Yang, the former candidate for the Democratic presidential nomination and current candidate for New York City mayor. “I believe this to be true in part because …

Infrastructure: Biden made stimulus look easy. Selling tax hikes for infrastructure will be harder
3 years, 8 months ago

Infrastructure: Biden made stimulus look easy. Selling tax hikes for infrastructure will be harder

CNN  

CNN — President Joe Biden’s second big legislative push will be harder than his first for multiple reasons, most conspicuously this one: It will include tax increases. But tax hikes that start out popular don’t often end up that way, as Republican strategists are eager to prove again once debate over Biden’s “Build Back Better” infrastructure plan begins in earnest. …

Coronavirus stimulus payments from $US1.9 trillion Biden relief package to hit US bank accounts this weekend
3 years, 9 months ago

Coronavirus stimulus payments from $US1.9 trillion Biden relief package to hit US bank accounts this weekend

ABC  

Americans will see the first direct deposits from President Joe Biden's $US1.9 trillion COVID-19 relief package hit their bank accounts this weekend, according to Treasury and Internal Revenue Service officials. Key points: The stimulus payments will help 160 million US households A family of four will receive up to $7,200 in stimulus payments Coronavirus kills an average of 1,400 Americans …

Joe Manchin defends effort to stall Democrats’ stimulus plan
3 years, 9 months ago

Joe Manchin defends effort to stall Democrats’ stimulus plan

CNN  

Washington CNN — Democratic Sen. Joe Manchin on Sunday defended his role in stalling the Senate’s passage of President Joe Biden’s massive stimulus plan for hours into the weekend, saying he was pushing for a “fair compromise” on a tax provision for unemployment benefits. The West Virginia Democrat played a key role in the Senate’s passage of the $1.9 trillion …

WH says relief checks to go to most who got December payment
3 years, 9 months ago

WH says relief checks to go to most who got December payment

Associated Press  

Roughly 98% of U.S. households that received a COVID-19 relief check in December will also qualify for the next round of payments being championed by President Joe Biden, according to a White House official. Under the current Senate bill, the Biden administration estimates that 158.5 million households will receive direct payments, according to the White House official who insisted on …

WH says relief checks to go to most who got December payment
3 years, 9 months ago

WH says relief checks to go to most who got December payment

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Roughly 98% of U.S. households …

Biden signs off on tighter eligibility for $1,400 stimulus checks
3 years, 9 months ago

Biden signs off on tighter eligibility for $1,400 stimulus checks

Hindustan Times  

President Joe Biden has agreed to moderate Democrats’ demands to narrow eligibility for the $1,400 stimulus payments included in the $1.9 trillion pandemic-relief bill, according to a Democratic aide. A separate push by moderates to trim the $400-a-week supplemental unemployment benefits in the bill that the House passed last week to $300 won’t be included in what is initially brought …

Biden backs stimulus cheque income limits in CEO meeting
3 years, 10 months ago

Biden backs stimulus cheque income limits in CEO meeting

Al Jazeera  

United States President Joe Biden told a group of business leaders gathered at the White House on Tuesday that he supports phasing out stimulus payments for individuals earning more than $75,000 and households earning more than $150,000. United States President Joe Biden said on Tuesday he agreed with a proposal by Democratic lawmakers that would limit or phase out stimulus …

Biden eager to ‘act fast’ on $1.9T plan even without Republicans
3 years, 10 months ago

Biden eager to ‘act fast’ on $1.9T plan even without Republicans

Al Jazeera  

United States President Joe Biden warned that Americans are hurting too badly to wait for partisan negotiations as Friday’s weak jobs report shows the country’s recovery is at real risk of stalling. President Joe Biden gave his strongest indication yet that he will push for his $1.9 trillion Covid relief plan without Republican support, saying that a weak jobs report …

Letters to the Editor: Joe Biden needs to tell Republicans to get out of his way on COVID relief
3 years, 10 months ago

Letters to the Editor: Joe Biden needs to tell Republicans to get out of his way on COVID relief

LA Times  

To the editor: President Biden has to do something right now. Our problems now include a sputtering economy, poor race relations, too many voters believing made-up conspiracy theories and lies, hate groups growing and arming for revolution, a dysfunctional government, and a virus that’s mutating. Small looks like compromise, like doing a little something here and a little something there. …

Biden says he won’t budge on $1,400 stimulus cheques
3 years, 10 months ago

Biden says he won’t budge on $1,400 stimulus cheques

Al Jazeera  

President Joe Biden on Wednesday told House Democrats he’s ‘not married’ to an absolute number on his proposed $1.9 trillion stimulus package, but he wants it to include $1,400 direct cash payments. United States President Joe Biden told House Democrats on Wednesday that he’s “not married” to an absolute number on his $1.9 trillion COVID-19 rescue plan, but Congress needs …

Biden tells House Democrats to ‘stick together’ in Covid-19 relief push, signals willingness to narrow stimulus checks
3 years, 10 months ago

Biden tells House Democrats to ‘stick together’ in Covid-19 relief push, signals willingness to narrow stimulus checks

CNN  

CNN — President Joe Biden told House Democrats on a conference call Wednesday he is open to narrowing the distribution of $1,400 stimulus checks in his Covid-19 relief proposal to focus on poor and middle-class people, according to audio of the call obtained by CNN “I think we can better target the number,” he said, according to the recording. So, …

3 reasons Americans need more federal aid
3 years, 11 months ago

3 reasons Americans need more federal aid

CNN  

Washington CNN — Congress has approved trillions in relief funds for Americans suffering because of the pandemic recession, but President Joe Biden thinks the country needs even more. The economy is still getting worse During the first week of the year, the number of new people applying for unemployment benefits soared above 900,000 for the first time since August. Traditional …

Stimulus checks are a lousy way to fix the economy
3 years, 11 months ago

Stimulus checks are a lousy way to fix the economy

CNN  

New York CNN Business — The most expensive provision in Joe Biden’s $1.9 trillion economic recovery plan is his proposal to send an additional $1,400 to most Americans. “That money is not well targeted,” said Mark Zandi, chief economist for Moody’s Analytics. It’s getting harder to argue it’ll be an immediate stimulus to the economy.” A big part of the …

US economy: Joe Biden doesn’t have a magic wand to fix it
3 years, 11 months ago

US economy: Joe Biden doesn’t have a magic wand to fix it

CNN  

New York CNN Business — Joe Biden last week proposed a $1.9 trillion stimulus bill, part of a historically ambitious plan to combat an economic crisis. “This is a very large package, but it’s about helping the economy hang together as well as it can hang together until the end of the pandemic,” said Mark Zandi, chief economist at Moody’s …

Biden announces USD 1.9 trillion COVID-19 stimulus plan to revive US economy
3 years, 11 months ago

Biden announces USD 1.9 trillion COVID-19 stimulus plan to revive US economy

The Hindu  

US President-elect Joe Biden has announced a USD 1.9 trillion coronavirus relief package to tackle the economic fallout from the pandemic, including direct financial aid to average Americans, support to businesses and to provide a boost to the national vaccination programme. The relief package, announced on Thursday, includes USD 415 billion focused on combating the COVID-19 pandemic, over USD 1 …

President-Elect Joe Biden To Unveil Plan To Pump $1.9 Trillion Into Pandemic-Hit Economy
3 years, 11 months ago

President-Elect Joe Biden To Unveil Plan To Pump $1.9 Trillion Into Pandemic-Hit Economy

News 18  

President-elect Joe Biden will unveil a $1.9 trillion stimulus package proposal on Thursday designed to jump-start the economy and speed up the U.S. response to the coronavirus pandemic, officials said. The package includes $415 billion to bolster the response to the virus and the rollout of COVID-19 vaccines, some $1 trillion in direct relief to households, and roughly $440 billion …

Biden to unveil plan to pump $1.5 trillion into pandemic-hit economy
3 years, 11 months ago

Biden to unveil plan to pump $1.5 trillion into pandemic-hit economy

Live Mint  

President-elect Joe Biden will unveil a stimulus package proposal on Thursday designed to jump-start the economy during the coronavirus pandemic with an economic lifeline that could exceed $1.5 trillion and help minority communities. The incoming administration will work with Congress on the quick stimulus package after Biden takes office on Jan. 20, although the impeachment of Trump threatens to consume …

‘We have to act’: Biden unveils $1.9 trillion COVID stimulus plan
3 years, 11 months ago

‘We have to act’: Biden unveils $1.9 trillion COVID stimulus plan

Al Jazeera  

Package includes $415bn to boost response to COVID-19 and vaccine release, as well as $1,400 cheques to individuals. United States President-elect Joe Biden has unveiled a $1.9 trillion stimulus package proposal designed to jump-start the economy and speed up the US response to the coronavirus pandemic. It also provides a sharp contrast with Trump, who spent the last months of …

Trump’s bid for $2,000 stimulus cheques stalls in US Senate
3 years, 11 months ago

Trump’s bid for $2,000 stimulus cheques stalls in US Senate

Al Jazeera  

United States President Donald Trump’s push for bigger $2,000 COVID-19 relief cheques stalled in the Senate on Tuesday as Republicans blocked a swift vote proposed by Democrats and split within their own ranks over whether to boost spending or defy the White House. Most Republican senators oppose the additional COVID-19 spending, which would cost the US government $484bn, even if …

Senate GOP stalls Democrats’ push for $2,000 stimulus checks
3 years, 11 months ago

Senate GOP stalls Democrats’ push for $2,000 stimulus checks

LA Times  

On Tuesday, Senate Majority Leader Mitch McConnell blocked an attempt to vote on whether to increase the amount of stimulus checks from $600 to $2,000. President Trump’s push for bigger, $2,000 COVID-19 relief checks stalled out Tuesday in the Senate as Republicans blocked a swift vote proposed by Democrats and split within their own ranks over whether to boost spending …

House Passes $2,000 Coronavirus Stimulus Check Legislation
3 years, 11 months ago

House Passes $2,000 Coronavirus Stimulus Check Legislation

Huff Post  

LOADING ERROR LOADING After President Donald Trump reluctantly signed the coronavirus relief legislation Sunday night, House Democrats still moved ahead Monday with passing new legislation to increase stimulus checks to $2,000 for most Americans, putting Republicans on the record as opposing the increase in direct payments. The House passed the stimulus check legislation 275-134, with 130 Republicans, two Democrats and …

Trump Threatens Not To Sign COVID-19 Bill, Wants Bigger Checks
4 years ago

Trump Threatens Not To Sign COVID-19 Bill, Wants Bigger Checks

Huff Post  

LOADING ERROR LOADING WASHINGTON — After spending months on the sidelines while Congress tried to pass a coronavirus relief bill, President Donald Trump finally inserted himself into the conversation Tuesday night, seemingly with a veto threat, after lawmakers had already reached a deal, passed the bill and left town. If Congress doesn’t send a suitable replacement to his desk, the …

Donald Trump is right: $600 in stimulus checks is not nearly enough. But $2,000 isn’t, either
4 years ago

Donald Trump is right: $600 in stimulus checks is not nearly enough. But $2,000 isn’t, either

CNN  

New York CNN Business — After months of failed negotiations and political feuding, Congress finally approved a $900 billion relief package this week, nearly nine months after the record $2.2 trillion passed in March, and against the backdrop of a country riddled with economic peril and surging coronavirus cases. But President Donald Trump signaled he wouldn’t sign the bill if …

Stimulus checks: Hill leaders eye second round of aid as part of $900 billion Covid relief deal
4 years ago

Stimulus checks: Hill leaders eye second round of aid as part of $900 billion Covid relief deal

CNN  

Washington CNN — Congressional leaders, after months of a bitter stalemate and as millions of Americans have been eager for relief, are finally indicating they’re nearing a deal on a new rescue package that could pass both chambers within days. The price tag for a stimulus deal could be close to $900 billion, a source familiar tells CNN, though many …

Bernie Sanders brands $600 Covid stimulus check proposal ‘crap’
4 years ago

Bernie Sanders brands $600 Covid stimulus check proposal ‘crap’

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Bernie …

What's the status of a second $1,200 stimulus check?
4 years, 1 month ago

What's the status of a second $1,200 stimulus check?

CBS News  

Hopes for another large round of federal assistance for Americans hurt by the coronavirus pandemic are reviving, with President-elect Joe Biden calling on Congress to "come together and pass a COVID-relief package." Already, there are signs that consumers may be paring spending as the surge in COVID-19 cases saps their confidence in an economic rebound, paired with a lack of …

US Treasury Secy Mnuchin moves to restart stimulus talks with Democrats
4 years, 1 month ago

US Treasury Secy Mnuchin moves to restart stimulus talks with Democrats

Live Mint  

Treasury Secretary Steven Mnuchin is trying to revive stalled stimulus talks with congressional Democrats, the first sign in weeks of possible movement on virus relief in the waning days of the Trump administration. Mnuchin said he’ll talk with Senate Majority Leader Mitch McConnell and House GOP leader Kevin McCarthy on Friday about about a strategy for an approach to Speaker …

Bidenomics: More stimulus, tougher regulation, and gridlock
4 years, 1 month ago

Bidenomics: More stimulus, tougher regulation, and gridlock

Associated Press  

WASHINGTON — President-elect Joe Biden will inherit a vulnerable economic recovery under threat from a resurgent virus, likely with a divided Congress that will hinder his ability to address the challenges. “It starts with doing everything possible to get the COVID-19 under control,” Biden said Monday, “so that we can reopen our businesses safely and sustainably.” Striking an ominous tone, …

Inside the GOP's plan to destroy the Biden presidency
4 years, 2 months ago

Inside the GOP's plan to destroy the Biden presidency

Raw Story  

The Republican Party may be facing an uphill battle to retain control of the Senate but, for the time being, they are already laying the groundwork to make Democratic presidential nominee Joe Biden's job quite difficult if he is elected in November. Sargent wrote, "The short version: A Senate GOP strategist privately confided to Bloomberg that a key Republican goal …

The US economy needs more help. Congress is too divided to provide it
4 years, 3 months ago

The US economy needs more help. Congress is too divided to provide it

CNN  

New York CNN Business — Small businesses are disappearing. “At this point, a major stimulus package before the election looks like a long shot,” Goldman Sachs economists wrote in a note Friday. ‘Running out of steam’ Goldman Sachs said that Congressional failure to pass additional fiscal stimulus will force the Wall Street bank to downgrade itsUSeconomic growth forecast for the …

New stimulus checks, enhanced unemployment unlikely as Congress fractures over coronavirus relief
4 years, 3 months ago

New stimulus checks, enhanced unemployment unlikely as Congress fractures over coronavirus relief

LA Times  

The congressional stalemate over a new coronavirus relief package grew further entrenched Thursday as Senate Democrats blocked a slimmed-down Republican proposal that they deemed “emaciated” because it did not include another round of $1,200 stimulus checks for Americans, assistance for state governments and other economic aid. “There could be a chance for Pelosi and Schumer and the White House to …

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