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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (480534)	10/2/2021 3:45:06 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 541735

"Democrats have said their 2009 stimulus efforts under Barack Obama were insufficient" IIRC, at the time, Christina Romer said it needed to be $1.5 T. That would have be DOA, and Obama would have been seen as un-serious. == "In pitching President Biden’s relief package" That package cost $1.9T, and was a life preserver, not a stimulus. It came after Congress had already passed 2 other relief bills containing $3.1 T.. On top of that, the infrastructure bill adds $1.2T, and the reconciliation bill is around $2T. That's going pretty big. We don't actually need to stimulate the economy right now. That's not to say we don't need to do a lot, but we're currently at textbook "full employment", and we have more job openings than seekers. Does 5.1 percent = full employment? - Marketplace.org marketplace.org Sep 4, 2015 — The Federal Reserve considers a base unemployment rate (the U-3 rate) of 5.0 to 5.2 percent as “full employment” in the economy.