A brief from my team at Gingrich 360:
Joe Biden prepares to enter his first week as President of the United States, and it appears he is wasting no time implementing ineffective fixes for the economy. He recently announced his plan for nearly $2 trillion more for COVID-19 relief to go along with the newest stimulus plan from Congress last month. While more aid sounds beneficial on the surface, it may end up doing more harm than good.
Overall, Biden’s plan of income redistribution offers a short-term bandage for problems Americans are facing, but it provides no long-term security. A large sum of the money is going towards schools reopening for example, despite there being no certainty they even can open again right now. Private schools aren’t even receiving any of this extra funding. Small businesses that have struggled for months will continue to do so under this deal. Biden’s idea to raise unemployment benefits to $400 per week provides no incentive for anyone out of work to return since most small businesses can’t match the amount.
Looking deep into the Biden administration’s pandemic measures sets the tone for what Democrats hope to accomplish: to undo President Trump’s actions. The economy flourished under President Trump prior to COVID-19. There were higher wages for the middle-class and a jobless rate of only 3.7 percent. Joe Biden seeks to re–establish many of President Obama’s economic plans which will ultimately harm Americans just as normalcy starts to return.
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