Biden Team, Pushing Quick Stimulus Deal, Prepares for Renewed Recession

[Yo_Mama_Been_Loggin]

WASHINGTON — Advisers to President-elect Joseph R. Biden Jr. are planning for the increasing likelihood that the United States economy is headed for a “double-dip” recession early next year. They are pushing for Democratic leaders in Congress to reach a quick stimulus deal with Senate Republicans, even if it falls short of the larger package Democrats have been seeking, according to people familiar with the discussions.

Until now, Mr. Biden, Speaker Nancy Pelosi of California and Senator Chuck Schumer of New York, the Democratic leader, have insisted that Republicans agree to a spending bill of $2 trillion or more, while Senator Mitch McConnell of Kentucky, the majority leader, wants a much smaller package. The resulting impasse has threatened to delay additional economic aid until after Mr. Biden’s inauguration on Jan. 20.

Many of the president-elect’s advisers have become convinced that deteriorating economic conditions from the renewed surge in Covid-19 infections and the looming threat of millions of Americans losing jobless benefits in December amid a wave of evictions and foreclosures require more urgent action before year’s end. That could mean moving at least part of the way toward Mr. McConnell’s offer of a $500 billion package.

But top Democrats remain publicly adamant that Republicans need to move closer to their opening offer of $2.4 trillion. Mr. Biden, Ms. Pelosi and Mr. Schumer have given no public indication of how much they are willing to scale back their ambitions in order to reach a deal with Mr. McConnell, arguing that the Republican leader has not been willing to compromise.

“The Covid-19 pandemic and economic recession will not end without our help,” Ms. Pelosi and Mr. Schumer wrote in a letter this month, asking Mr. McConnell to resume negotiations. “It is essential that this bill have sufficient funding and delivers meaningful relief to the many Americans who are suffering.”

https://www.msn.com/en-us/news/politics/biden-team-pushing-quick-stimulus-deal-prepares-for-renewed-recession/ar-BB1bfXqB?li=BBnb7Kz

[onecaliberal]

1. It is my understanding that what the pukes are offering has no relief for working people.

Last edited Sun Nov 22, 2020, 10:35 PM - Edit history (1)

[crickets]

6. *ding!* Winner.

Repubs do not want to commit enough money to get the job done, and Dems have already compromised by shaving 1.2 trillion from the original HEROES Act. The problem is in the fine print outlining where the money goes, as well as business liability protections in the HEALS Act which McConnell refuses to give up.

https://www.democraticunderground.com/?com=view_post&forum=1002&pid=14569339

https://www.cnet.com/personal-finance/stimulus-negotiations-to-resume-6-things-congress-needs-to-work-out-for-a-bill/

[sfstaxprep]

2. The repubs Will Be Blaming Biden For The Recession By January 21st

They take credit when a Democrat leaves them a great economy, and defer blame when they leave a Shithole upon departure.

[Doodley]

3. Every Covid death will be blamed on Biden too.

[LizBeth]

4. McConnell's is only small business and hospital and that money never makes it to the actual small

businesses or the medical in the field. And that is it.

[SWBTATTReg]

5. A recession was already anticipated long ago...no surprises. NT