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Yellen pushes 'fiscally responsible' Biden agenda
Posted on 8/17/21 at 11:02 am
Posted on 8/17/21 at 11:02 am
"We are now engaged in the most important economic project in recent history: Repairing the broken foundations of our economy, and on top of them, building something stronger and fairer than what came before," Yellen wrote in a Yahoo Finance op-ed.
"The United States Senate began to turn the page on this unfortunate chapter in our economic history and, with two pieces of legislation, started building the economy that Americans should – and can – have," Yellen wrote.
Yellen said in her op-ed that the U.S. has long underinvested in things such as child care, education and infrastructure, which has contributed to "worrying trends" such as a decline in labor force participation. She said that Biden's plans can help to reverse these trends.
"The Build Back Better agenda, much of which is contained in the reconciliation bill expected to move through the Senate this fall, will increase labor force participation because it makes those long-overdue investments in families," Yellen wrote.
Yellen said there are several reasons why the amount of proposed investments isn't too great.
She said that "now is the right time" to make the investments because of low interest rates, and that the proposals are "fiscally responsible" because the spending would be spread out over time and their costs would be offset by tax increases on wealthy individuals and corporations. Additionally, Yellen argued that the cost of not enacting Biden's spending proposals is high.
"I question whether we can if we remain a country where renting a home eats up the lion’s share of your paycheck, and owning one is out of the question; where young people can’t gain the skills to compete in the job market because they can’t afford the tuition bill; or where Americans must make a choice: have children or have a job" Yellen wrote.
"The Build Back Better agenda will address these challenges," she added. "It will bolster our economic growth and productivity, while bringing down some of the largest cost drivers for American families." LINK
"The United States Senate began to turn the page on this unfortunate chapter in our economic history and, with two pieces of legislation, started building the economy that Americans should – and can – have," Yellen wrote.
Yellen said in her op-ed that the U.S. has long underinvested in things such as child care, education and infrastructure, which has contributed to "worrying trends" such as a decline in labor force participation. She said that Biden's plans can help to reverse these trends.
"The Build Back Better agenda, much of which is contained in the reconciliation bill expected to move through the Senate this fall, will increase labor force participation because it makes those long-overdue investments in families," Yellen wrote.
Yellen said there are several reasons why the amount of proposed investments isn't too great.
She said that "now is the right time" to make the investments because of low interest rates, and that the proposals are "fiscally responsible" because the spending would be spread out over time and their costs would be offset by tax increases on wealthy individuals and corporations. Additionally, Yellen argued that the cost of not enacting Biden's spending proposals is high.
"I question whether we can if we remain a country where renting a home eats up the lion’s share of your paycheck, and owning one is out of the question; where young people can’t gain the skills to compete in the job market because they can’t afford the tuition bill; or where Americans must make a choice: have children or have a job" Yellen wrote.
"The Build Back Better agenda will address these challenges," she added. "It will bolster our economic growth and productivity, while bringing down some of the largest cost drivers for American families." LINK
16
Posted on 8/17/21 at 11:04 am to Jbird
quote:
Repairing the broken foundations of our economy
Yes that's it, not the shutdowns.......lollololololol
Posted on 8/17/21 at 11:04 am to Jbird
Typical. She thinks she is saving money by spending it.
Posted on 8/17/21 at 11:07 am to Strannix
quote:
Yes that's it, not the shutdowns.......lollololololol
Maybe that's what she is talking about. Maybe they will make it to where the economy cant be shut down by the feds.
Posted on 8/17/21 at 11:08 am to Jbird
Oh great, she's all on board....human infrastructure, climate infrastructure, racial infrastructure, they just make shite up as they go along
Posted on 8/17/21 at 11:09 am to Jbird
These pieces of shite constantly say this stuff with a straight face because they idiots they're projecting too have no clue wtf they're talking about.
Everything in that op-ed is complete bullshite. Literally every single word.
Everything in that op-ed is complete bullshite. Literally every single word.
Posted on 8/17/21 at 11:09 am to Landmass
My wife went to the same Business Scholl apparently
Posted on 8/17/21 at 11:09 am to Jbird
When you own the printing press you and say or spend whatever the frick you want.
Posted on 8/17/21 at 11:10 am to Jbird
quote:fixed it. If you think they’re rolling this POS out bc she’s an economic expert, you probably still think Biden is foreign policy expert
"It will bolster The Elite’s economic growth and productivity, while passing down the largest cost to American families just like we’ve done in the past."
Posted on 8/17/21 at 11:10 am to Jbird
what are these assholes trying to build? I keep hearing build this build that.
Posted on 8/17/21 at 11:11 am to LSUTIGER in TEXAS
quote:
fixed it. If you think they’re rolling this POS out bc she’s an economic expert, you probably still think Biden is foreign policy expert
Posted on 8/17/21 at 11:11 am to Jbird
quote:
Yellen
criminal that is bought and paid for by big banks and represents as a previous Fed chair and current Treasury Secretary that our central bank and federal government are now hopelessly intertwined
Posted on 8/17/21 at 11:13 am to Jbird
quote:
Yellen
"Maybe we should just send grandma home with some pain killers"
Barrack Obama,
Posted on 8/17/21 at 11:18 am to Jbird
The best way to increase labor force participation would be to end all forms of welfare.
If you have no money you will find a job.
If you have no money you will find a job.
Posted on 8/17/21 at 11:18 am to Jbird
This agenda is exactly the opposite of "fiscally responsible"....
These people are stupid!
These people are stupid!
Posted on 8/17/21 at 11:20 am to Jbird
Who you going to believe? Your unelected bureaucratic betters or your lying eyes?
If they were being fiscally responsible, interest rates would be at 15% or higher. They're all playing hot potato right now, hoping the music don't stop.
If they were being fiscally responsible, interest rates would be at 15% or higher. They're all playing hot potato right now, hoping the music don't stop.
Posted on 8/17/21 at 11:23 am to Jbird
quote:
the proposals are "fiscally responsible" because the spending would be spread out over time and their costs would be offset by tax increases on wealthy individuals and corporations
When they don’t get the tax revenues they think they are going to get, it will of course be unexpected.
Posted on 8/17/21 at 11:28 am to Jbird
Imagine, A Government so smart, it knows exactly how much to take from One, and how much to give to Another. Also, this government knows exactly how to allocate resources for maximum return.
Better yet, show me someone who believes in the shite-show that the dems are forcing us to endure.
Better yet, show me someone who believes in the shite-show that the dems are forcing us to endure.
Posted on 8/17/21 at 11:31 am to Jbird
People complain about the cost of housing. But we import about 2.5M people per year into cities. Every year. We arent importing more land.
Our economy needs the employees. But the increased cost of housing is the most basic economic concept.
Our economy needs the employees. But the increased cost of housing is the most basic economic concept.
Posted on 8/17/21 at 11:32 am to Jbird
quote:
Yellen said in her op-ed that the U.S. has long underinvested in things such as child care, education and infrastructure, which has contributed to "worrying trends" such as a decline in labor force participation. She said that Biden's plans can help to reverse these trends.
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