Downsides to the Joe Biden Administration’s Proposed Covid-19 Relief Package
Everything that has tons of pros is expected to have some downsides. In this news report, we are assessing what resource persons have to say about the proposed Covid-19 relief package going through a hearing among the United States policymakers.
How the Current Political Landscape can Help Resolve National Issues Quickly
The political landscape of the present political administration is central to how things are going in the country. By coming out slightly top of republicans in the elections, the Democrats are having a field day calling the shot because of their majority.
This does not mean they do not need the political backing of a few republicans in case they cannot handle their internal issues amicably. However, this is not currently the case as they have been united in the Donald Trump Impeachment issue alongside 6 progressive republican senators.
Furthermore, many of these senators see the need for the endorsement of the Covid-19 relief package to help boost the economy in many regards. Chief among the ways this aid from the federal government can help is by drastically reducing unemployment rates.
However, there seems to be some indecision between the democrats and republicans as to the exact amount that the relief package should be. While the Democrats are fine with the initially proposed excess of 2 trillion dollars, their counterparts have reservations about the ability of the nation to bear such fiscal burden given the troubles it has been through of late.
The Downsides to the COVID-19 Relief Package
The truth is that these republicans are making a valid point. First, it is not the first time the federal government is doing such within a short while. As a matter of fact, over 4 trillion was spent one way or the other in the last 1-year dealing with the crisis.
The US is going through the fiscal consequences of vaccinating a nation of so many people and having to bear the cost of this package is certainly going to put them in a compromising position. This is the view shared by lots of resource persons and economic analyst on Wall Street.