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Sat Feb 20, 2021, 11:35 AM

This week in Bidenomics: Get ready for the Biden boom

https://finance.yahoo.com/news/this-week-in-bidenomics-get-ready-for-the-biden-boom-190552832.html

This is the rationalization for Biden’s $1.9 trillion American Rescue Plan, which seems likely to pass in March. Congress may not approve the entire amount, but there will almost certainly be another $1,400 check, or more, for most families and an extension of supplemental unemployment benefits. The final price tag could be around $1.5 trillion. That would boost the total amount of fiscal stimulus during the last year to nearly $6 trillion, by far the most aggressive federal response to a recession since the 1930s.

Then, the boom will arrive. A variety of indicators are beginning to foretell a surge in economic growth, and the consequences of that. Retail sales surged 5.3% in January, much more that expected. One factor boosting spending was the $600 stimulus checks that went out to most homes in early January, as part of the late-2020 stimulus bill. Business spending picked up, as well, not surprising since CEO confidence recently hit a 17-year high.
With even more stimulus cash likely to hit mailboxes soon, economists are raising their forecasts for GDP growth. From Feb. 12 to Feb. 19, the New York Federal Reserve’s estimate of first-quarter GDP growth jumped from 6.7% to 8.3%. Forecasting firm Capital Economics expects full-year real GDP growth of 6.5% in 2021, which would be the strongest since 1984. “There is no recession,” says former Congressional Budget Office Director Douglas Holtz-Eakin. “The economy is growing strongly.”

Covid vaccinations are another bullish indicator. Biden says ample vaccines could be available by July, and other health experts think herd immunity could arrive sooner. That could bring a quicker revival of the gasping parts of the economy.
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I typically don't like Yahoo articles but this is a good one. Plus i like the sound of "Biden Boom!"

Biden's shaping up to be a phenomenal POTUS!



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Response to onetexan (Original post)

Sat Feb 20, 2021, 11:52 AM

1. Thanks for posting

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Response to onetexan (Original post)

Sat Feb 20, 2021, 11:56 AM

2. I knew he would be, and supported him from

the beginning. I was discouraged at first, but Clyburn got the ball rolling. Donated money to his campaign from the get go.

I predict a progressive presidency! I knew he could take the Orange Freak down

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Response to XanaDUer2 (Reply #2)

Sat Feb 20, 2021, 12:08 PM

5. same here, before S. Carolina i was in a panic but Jim Clyburn & good ppl of SC really came through

So glad we now have a great POTUS & we're reaping the rewards of our collective labor and votes to get Joe elected. Such a great, decent, caring man, married to an equally awesome woman. AND he's got another great woman as his 2nd in command!

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Response to onetexan (Reply #5)

Sat Feb 20, 2021, 12:20 PM

7. There were some dark days there

I knew he'd choose a woman VP and could hit the ground running as President day one. Cleaning up after the mess.

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Response to XanaDUer2 (Reply #2)

Sat Feb 20, 2021, 01:00 PM

13. Props to you, XanaDUer2!

I didn't see it in the primaries. I bought into the caricature of his old age and moderateness - that he represented something of the past.

I love Bernie, but accepted at some point that his candidacy wouldn't bear fruit.

Kamala was my favorite - when Joe picked her, I thought - OK, this is someone I can really get behind.

Since becoming President- he's fulfilling my wildest dreams. Obama was transformational, almost on another level. Joe is the man for THIS time.

I remind myself that Biden was the one behind the push for marriage equality - bringing Obama along with HIM!

He's always been in touch with his own working person's roots. What a model of decency, dignity and true empathy!

So here's what kills me:

1st we are all enraptured when Obama won twice.

Then I though we would be truly so fortunate to also live through the 1st woman president (HRC. )

Then we entered a circle of hell with the orange menace who shall not be named. I thought it was the worst of political eras ever - our worst president and the face of pure evil.

And now: MORE HISTORY TO LIVE THROUGH - I think we are in the brink of a historical presidency of historical progressive change! On one hand, I think those in the admin must think this is kinda easy, following such a horrible corrupt incompetent admin. I mean, the bar is low - just the very basic duties of leadership is what we have been missing for the past 4 years.

But then of course there are the multi-level crises they must face.

Anyway, once again, I feel SO FORTUNATE TO BE ALIVE in this time in America. All I can do is work to share my privilege and gifts to support this admin as far as my energy takes me!!

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:01 PM

3. I'll use my psychic powers to predict "the former guy" tries to take credit somehow. n/t

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:06 PM

4. Trickle-up economics actually works. n/t

-Laelth

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Response to Laelth (Reply #4)

Sat Feb 20, 2021, 12:10 PM

6. Who'da thunk it...believing in the trickle down nonsense would benefit the working class when in

actuality they pocketed the $ and invested it elsewhere instead of raising wages. Reagonomics is a 4-letter word i'd like to forget.

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:34 PM

8. Sure beats the Trump Slump

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:40 PM

9. Trump throttled everything for too long

53% of the population cowered in fear, 10% of them planning on mass liquidation and emigration during a Trump second term. But lockdown resulted in home gigs, productivity, catching up on past projects, and now we're ready to roar. I truly believe the American Spirit cannot be stifled.

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:48 PM

10. '21 is going to be big...

My Robinhood account has been rather active...

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:50 PM

11. Yes because deficit spending in times like these are what the country needs

It’s great that President Biden recognizes that!

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Response to onetexan (Original post)

Sat Feb 20, 2021, 12:55 PM

12. Can't wait until the pandemic is over!

I will be out living like there is no tomorrow!

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Response to onetexan (Original post)

Sat Feb 20, 2021, 01:12 PM

14. Forgive an additional $50K in student loans and watch the economy explode

as young people can finally buy cars, houses and other goods that were tied up in their student loan payments.
This is the DU member formerly known as trc.

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Response to trc (Reply #14)

Sat Feb 20, 2021, 02:34 PM

18. i don't think $50K forgiveness will pass but a lower amount might

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Response to onetexan (Original post)

Sat Feb 20, 2021, 01:13 PM

15. Keep going huge!

Got to shower the people with benefits of good governance and a better economy. We must hold the Presidency in 2024. By 2028 the demographic shifts should be enough to keep things going in the Democrats favor.

Whatever it takes, keeping the Presidency in 2024 though better economic times is the most important thing in the world. The GOP can not hold the Presidency again until it implodes and starts over. It will be the end for America if these right wingnuts get the office back in 2024.

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Response to Jon King (Reply #15)

Sat Feb 20, 2021, 02:33 PM

17. K&R! That's right, go big or go home, and our Dems leaders & President Biden have chosen to go big

add in the focus on climate crisis, going Green, & reversal of those harmful immigration policies makes for a great start to his administration.

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Response to onetexan (Original post)

Sat Feb 20, 2021, 02:31 PM

16. And the big question

Is still whether Manchin and Sinema will sink the stimulus over the minimum wage?

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Response to onetexan (Original post)

Sat Feb 20, 2021, 02:42 PM

19. EXCELLENT NEWS!!!

I heard the 5.3% stat on the business report segment of the local news last night, and was greatly heartened.

I'm pretty risk-averse when it comes to my own finances, and that bleeds through somewhat into the way I perceive macroeconomics. I always hope that the bridge is made of Lego, and not Jenga.

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