Miscellaneous

Legislating Against a Viral Target

Update 429: Legislating Against a Viral Target;Americans Watch as Congress Gropes for a Plan The raging coronavirus, vast economic contraction, enormous open-ended stimulus spending, botched relief rollouts, system crashes, and a cacophony of partridges in the pear tree combine to confirm Americans’ impression that those in charge do not have a comprehensive economic plan. Corona …

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Corona III Programs in Need of Rx

Update 428: Corona III Programs in Need of RxImplementation Snafus and Consequences Following the grim vital statistics wrought by the coronavirus are numbers revealing a secondary affliction reaching millions more. Every day brings news of another round of tens of thousands of layoffs, furloughs, shift cuts, even wage cuts. The federal fiscal responses to the …

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Corona 3 Implementation Starts

Update 427: Corona 3 Implementation StartsMoney Out When? Stimulating a Dead Horse? The incredible shrinking and increasingly virtual U.S. economy is being transformed by the coronavirus into something we have never seen before and increasingly hard to spot. Ten million jobs have vanished in under two weeks and the famous flattening of the curve is …

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New Economic Misery Index

Update 426: New Economic Misery Index;Weekly Initial Jobless Claims Out Tomorrow With the nation bracing for more bad news tomorrow, the sense in Congress is that the historic $2 trillion Corona III won’t be enough. Indeed, talks (over the phone) are already in progress on a fourth Corona bill. We hear some talk of a …

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America Starts Spring Broke

Update 424 — America Starts Spring Broke;Senate Set to OK Biggest Spending Bill Ever The COVID epidemic is far from over, as are its economic repercussions and the policy responses to them. Today, the US Senate will adopt a third relief package (stimulus would be mostly misnomer), this one bigger than any federal spending measure …

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Senate Poised to Vote Tonight on Largest Stimulus Bill in American History

Update 423 — Senate Poised to Vote Tonighton Largest Stimulus Bill in American History Befitting the worst economic and civic crisis confronting the nation in nearly a century, the GOP Senate leadership is preparing legislation in scope and scale that could spare vast material wreckage, or make it inevitable, or worse. What happens on the …

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Virus Stops Economy Cold

Update 422: Virus Stops Economy Cold;Congress in Search of Plan, Consensus Legislation to address the impact of the coronavirus is making its way through the Congressional mill. An initial $8 billion targeted relief package was enacted last week. This week, the House and Senate have taken a week to hammer out the finer points of …

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The Price of Poverty

Update 414: The Price of Poverty Before we go to Las Vegas, the site of tonight’s Democratic presidential debate, let’s have a look at what happens when wages are lost to layoffs or when luck turns and a car wreck or a diagnosis pushes a family over the economic edge. How many Americans are living …

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Domestic Economic Priorities

Update 409 — Domestic Economic Priorities:Modernizing Assistance for U.S. Households Domestic economic policy in the United States has failed to keep pace with the changing economy, the needs of workers, consumers and investors, and the reality of international competition. When political circumstances finally allow, what area of domestic economic policy is in most dire need …

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