Read on Twitter
trouble falling asleep. mulled over targeting not targeting.
I remain appalled we moving (too damn slowly) toward $700 billion package (too damn small) extending relief handful of months and misses many.
I want us back to full employment fast to avoid lasting damage. https://twitter.com/Claudia_Sahm/status/1338837140306882560
I remain appalled we moving (too damn slowly) toward $700 billion package (too damn small) extending relief handful of months and misses many.
I want us back to full employment fast to avoid lasting damage. https://twitter.com/Claudia_Sahm/status/1338837140306882560
all year, I've been ADAMANT that unemployed workers and their families must get real support. goddamn pandemic is NOT their fault and we have to get them through it. I worked on better unemployment insurance systems before Covid. was full on #SaveThe600 https://twitter.com/Claudia_Sahm/status/1299817039092211717?s=20
argue loudly on here and recently in my @bopinion piece that long-term unemployed MUST have support extended past the end of this year. MUST. https://www.bloomberg.com/opinion/articles/2020-11-19/congress-don-t-forget-the-long-term-unemployed?sref=YAR8Qcu4 a few more months WILL NOT cut it. pandemic is not behind us until well into next year.
and I know small businesses, especially in hospitality, leisure, food services, are getting SLAMMED. state and local governments are doing so much to fight the pandemic and getting nothing from Congress. so why am I still clamoring for checks that go to 85% of the population?
1) am a Fed trained, real-world macroeconomist. I believe in the "multiplier" ... give people money, they will spend (
American consumers), businesses make some money, they hire workers back, those workers spend ... positive dynamic is stronger when economy's shit like now.
American consumers), businesses make some money, they hire workers back, those workers spend ... positive dynamic is stronger when economy's shit like now.
2) big relief earlier this year WORKED. countless research studies and look out the window proof: jobs came back by the millions, spending and income climbed (extra $600 got low wage unemployed income they need). relief slowed, recovery slowed. 10 million jobs short is TOO MANY!
3) and most importantly, 2020's been a shit year. Americans have lived one policy error after another, dreams shattered for millions, AND hundreds of thousands of deaths. a few thousand dollars won't make it up. but it says, "We see you. We want to help. Help all of you."
