BIDEN’S RESCUE PLAN AS RESPONSE TO THE ECONOMIC CRISIS

President Joe Biden unveils his $1.9 trillion strategy concerning the state of the economy and the need for the American Rescue Plan on Feb. 05, 2021, at the White House. He said, “It is very clear our economy is still in trouble,” and “I’m going to act, and I’m going to act fast.”

Photo: White House.

“We can reduce suffering in this country.  We can put people back to work.  We can control — gain control of this virus.  That’s what the American Rescue Plan does,” declared Biden at the press conference relating to his strategy to fight the economic recession.

In any event, this economic recession is shorter than the previous recessions known in this country—It is the 48th recession in U.S. history.  From a recent publication, The National Bureau of Economic Research reports that the COVID-19 recession lasted only two months, from February to April 2021.

This American Rescue Plan comes in response to the “10 million people” who “have been out of work” and “fifteen million Americans” who “are behind in their rental payments,” explained Biden, who also outlines the economic impact of the COVID-19 in the United States of America.

“A once-in-century virus has decimated our economy. And it’s still wreaking havoc on our economy today,” explained Biden, who later exposed his challenge to get this bill voted on by the U.S Congress. Prior to the press conference, President Biden met with a few congressmen regarding how to get the bill voted. “I’ve told both Republicans and Democrats that’s my preference: to work together.  But if I have to choose between getting help right now to Americans who are hurting so badly and getting bogged down in a lengthy negotiation or compromising on a bill that’s — that’s up to the crisis, that’s an easy choice.  I’m going to help the American people who are hurting now,” Biden said.

The president said, “I’ve met with Republicans. They are some really fine people who want to get something done, but they’re just not willing to go far as I think we have to go.”

In support of the president, Jim McGovern, D-MA, said, “No one who works full-time in the richest nation on this planet should live in poverty,” the U.S Congressman also called other members to move quickly to get the bill to the Senate and on to the president desk. 

On the other side, U.S Congressman Bill Posey qualified the “Covid Relief bill full of billions in wasteful and unrelated spending,” explained the congressman who later, in a press release, declared, “I voted against this bill because, sadly, it was less focused on COVID Relief for struggling families and more about paying off special interest.”

The president said, “My plan creates more jobs, it creates more economic growth and does more to make us competitive with the rest of the world than any other plan. Don’t take my word for it. Just look at what leading economists across the nation have said – and the world, and across the ocean.”

With the commitment to respond to the economic crisis, the Biden administration wants to send $1400 checks to the household. That money can be used for food, rental assistance, and health insurance.