Inherit The Wind!

That would be the economic wind…….

We have a new president and his biggest challenges will be foreign policy, pandemic and the economy.

Regardless how the stock markets do does not indication a strong economy…..just the monetary game the wealthy play…..but what about the US economy……what is the Biden admin looking at?

Policymakers cannot ignore the economic devastation happening to workers and their families across the country.

As the nation continues to be consumed with the election—which Joe Biden appears poised to win—millions of people across the country remain out of work. The latest data from the Bureau of Labor Statistics show that 638,000 jobs were added in October, a continued slowdown in job growth. The U.S. economy is still down 10 million jobs from where it was in February, before the pandemic hit. Using average monthly job growth over the year ending February 2020 as the counterfactual, the jobs deficit is over 11.6 million. In other words, that’s 10.0 million fewer jobs we have than in February, plus nearly 1.6 million jobs we would have added if the recession hadn’t occurred.

Even without the 147,000 loss in temporary Census employment in October, the economy added only 785,000 jobs. At this pace, it will take years for the U.S. economy to fully recover. With long-term unemployment on the rise and little hope for additional relief, workers and their families do not have years to keep their heads above water. As the winter approaches and COVID-19 cases continue to rise, millions of people across the country will be left out in the cold. Unlike his predecessor, the incoming Biden administration will inherit a devastated labor market that will need considerable relief and stimulus—quickly.

Do not mistake the high markets with a booming economy….as I have already stated…it is just an indication of the games the wealthy play with our country.

But like ALL candidates Biden has a plan for the economy…..

The 77-year-old’s economic agenda is not as detailed as others and does not contain similar sweeping proposals, but his plan for the U.S. is still ambitious and represents more than a reassuring reset button for Americans rattled by Trump. He has also shown signs that he’s willing to pivot to the left to win over Sanders supporters. He proposed two new policies to “ease the economic burden on working people” a day after the democratic socialist dropped out of the race.

But just viable are Biden’s plans…..

Ambitious indeed….but little will ever see light of day.

Be Smart!

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

2 thoughts on “Inherit The Wind!

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