So here is the deal. America’s economy is on the upswing with only good news to push it higher. But the real question that will drive it is who do Americans want to be? There are some basic answers to that big question. But much of it involves getting away from the crumbling economy left by the Republican legislators’ decades of mismanaging our country.
When President Joe Biden walked into the Oval Office, he found the economy in tatters and an out-of-control Coronavirus pandemic. In spite of that, he came to office with a plan to take us into a thriving 21st century life far better than before. The thing is, we must go forward into the future, because the fires of the past are already licking at our heels.
It is hard to get a grasp of the enormity of moving us forward. Right now people only see the inflation part at the gas station and grocery store. His $1.9 trillion American Rescue Plan, the economic stimulus measure Congress approved in March, is long spent.
But moving back just a bit, we can begin to see the possibilities and opportunities that await us as we join President Biden in what he calls the battle for the soul of the nation. Why? Because this may be our last chance. To repair the economy, which is as we all know, not how high the stock market soars, America needs to get a grip on the COVID-19 and its Delta variant, which left us all forever changed.
The economy currently is performing admirably, according to The Energy Policy Institute:
- An average of 561,000 jobs added per month this year.
- Economic data suggests that its forecast of a passing economic storm is likely to be correct.
- A key monthly inflation reading that economists track — the core personal consumption expenditure index — has dropped for five straight months, suggesting price pressures may be easing.
Voters have been unnerved by prices and shortages, but the administration urges patience, because, according to The U.S. News:
- Initial jobless claims this week reached a pandemic low.
- Wages are rising at the fastest pace in at least 20 years.
- And the stock market is up more than 35 percent over the past 12 months.
Bank of America forecasters expect annualized growth of 6 percent in the final three months of the year in spite of 5.4 percent inflation caused by:
- Snarled supply chains
- Soaring freight costs
- Delivery delays
- Product shortages and
- Vaccine and mask resistance, thus more hospitalizations.
There are infrastructure bills on the table, just days, maybe hours, away from action. The first is a hands-on bill that will create good, union-paying jobs repairing bridges, building trains that run at 300 mph or faster, creating a strong electric grid not susceptible to outages or hacking, and internet for everyone.
Right now, Congress is close to passing the second infrastructure bill. This is one regular Americans deserve after decades of Republican leaders squeezing us dry. They took all the money and handed it to the very wealthiest.
It is our relief bill. When it passes, then the next step is all about execution — and filling in the gaps. This soft infrastructure bill is truly transformational. It invests in childcare, eldercare, poverty reduction, healthcare, education, clean energy, water pipes, roads, and bridges. All the quality of life other developed countries have.
These were all to be paid for with tax hikes on the rich and corporations. But two conservative Democrats held it hostage, dragging it down from $3.5 trillion down to $1.75 trillion.
Unfortunately, the country only has one functioning party. Donald Trump committed a failed coup against the government of these United States and stole the not-so-Grand Old Party. Now, the Republicans refuse to participate in governing.
As he worked on the pandemic, the president began unfolding this master Build Back Better Plan, the soft infrastructure plan. It provides parents with the help they need to get back to work and include seniors in that effort. This is an aggressive and comprehensive plan for good-paying job creation
Priorities USA helped elect President Biden among others in 2020:
‘Democrats ran in 2018 and 2020 on the promise that once we had a majority, we’d take bold action on real issues facing the American people. It’stime to act.’
Inflation continues to persist, and for now, the Biden infrastructure bill is too new to really appreciate the vast changes it will kick-off. But inflation is only temporary. Voters will reap nearly immediately the benefits of a “red-hot labor market. And a 5.6 percent growth rate.”
The president is forced to tackle the economy in tandem with the pandemic. President Biden spoke about Franklin Delano Roosevelt, according to Reuters:
‘[FDR is] the kind of president our nation needs right now.’
In March POTUS said talked about his infrastructure bills, and The New York Times reported our president said:
‘It’s not a plan that tinkers around the edges. It’s a once-in-a-generation investment in America unlike anything we’ve seen or done since we built the interstate highway system and the space race decades ago.’
Unlike FDR, Biden’s Democrats have only razor-thin majorities in the House and Senate. And he has two recalcitrant senators, Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) who threaten to take down the president’s signature legislation.
But there will be all the jobs associated with a clean energy economy. These will be capping methane emissions, working in sustainable agriculture, and innovations.
Claudia Sahm, Senior Fellow at the Jain Family Institute told The Washington Post:
‘Coming out of this crisis is messy. Shutting off the economy and turning it back on? We knew this was going to be difficult. The administration is making its job harder than it needs to. It is past time for them to go on offense.’
John Porcari, the president’s ports envoy said, as the White House wrote:
‘The system is moving more goods than ever and it’s moving them in different ways than it has in the past because as consumers we’re both buying more and we’re buying in different patterns than we have in the past. These short-term difficulties are an illustration of really the work that we need to do to build a goods-movement chain that serves the country better in the future.’
A former Federal Reserve economist. Sahm said:
‘Biden from the campaign on has positioned himself as a transformational president, like FDR. You want to be transformational? You have to sell the policy.’
Today, more than 20 million Americans are unemployed – and a majority of those unemployed are a result of the economic crisis worsened by President Trump’s inaction. President Biden’s Battle for The Soul of the Nation advised:
‘The economy will not fully come back until consumers feel safe again.’
When the ports bottle-necked, the White House intervened with round-the-clock distribution and major trucking growth. All the while, the Coronavirus pandemic raged. The president’s economic plan means:
- First, keep workers safe and help businesses stay open.
- Second, boost consumer confidence.
- And third, grow our economy and create good-paying jobs.
When our president came into office, 35.9 million doses of the vaccine had been distributed, but only 16.5 million doses had been given, according to the Centers for Disease Control and Prevention (CDC), The U.S. News reported.
President Biden appeared to have the pandemic under control at spring’s end, and people began going out. Then, the Delta Variant and cold weather, which the virus likes, hit. People returned to their caves once again. Unfortunately, the ex-president created a cult that associates a no-mask attitude with masculinity. Misinformation runs rampant through the social and Network media, all making the president’s job far more difficult.
Now, 425 million doses have been administered, and 192 million people have been fully vaccinated. Thursday Moderna announced a pill to prevent the virus, although it is far less effective than the shot. And children aged five through 11 can now receive their shots. President Biden will tighten up on the number of mandatory business vaccinations within days.
Right now, President Biden’s deal is looking pretty good, a battle for the soul for the nation.
Three White Lions podcast, Gloria Christie reads her week’s most important news/ commentary stories in the liberal online newspaper The Bipartisan Report. Gloria Christie Report her newsletter for people on the go. Written in her own unique style with a twist of humor in a briefer version of Bipartisan Report. Christie’s Mueller Report Adventures In Bite-Sizes a real-life compelling spy mystery. Find her here on Facebook.