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USA TODAY Is President Joe Biden’s proposed $1.9 trillion COVID-19 relief bill a critical lifeline to millions of Americans still reeling from the financial effects of the pandemic? Or is it a study in excess – an over-the-top catchall that goes too far in rescuing even those directly affected by the pandemic while tossing in a grab bag of unrelated social policy initiatives and pork-barrel morsels? Among other things, the legislation would send another round of checks to most Americans – this time, for $1,400. It would extend a federal bonus to unemployment benefits through August and...

It was supposed to be a dark winter for the economy. But buoyed by government relief aid, falling COVID-19 cases and the vaccine rollout, growth is expanding briskly and the economy is projected to boom this year as pandemic-related restrictions ease. Some economists even predict that by late 2021 and throughout 2022, the nation’s gross domestic output will be larger than it would have been if the pandemic hadn’t occurred. “That’s a particularly remarkable outcome, especially when you consider that (in the aftermath of the Great Recession of 2007-09), the U.S. economy never really ret...

Inflation Hawks Critique Biden's $1.9 Tn Spending Plan By Chris STEIN, Delphine TOUITOU 02/08/21 AT 3:56 PM President Joe Biden's $1.9 trillion proposal aimed at revitalizing the US economy has drawn skepticism from some economists, including a former Treasury secretary who is also a member of his Democratic Party. Larry Summers's warning last week that the plan could cause inflation to rise and crowd out other investment priorities has sparked a debate over whether Biden's proposal is excessive, even for an economy that has sustained massive damage during the pandemic. Here is a look at ...

You’re standing in the back yard, filling up a wading pool for the kids with a garden hose. If you turn the hose off, the pool stops filling. Allow enough time, and the sun evaporates the water. Over the course of the summer, the water slowly dries up, leaving you with an empty pool and unhappy children – unless you turn the hose back on. Starting in late February, governors across the U.S. turned off (or severely restricted) their economies to try and mitigate the spread of COVID-19. They first felt the consequences in March, and the negative ripple effects are likely to continue wel...

Ted Adams, 77, has put off myriad purchases while hunkering down during the pandemic. Adams and his wife, who live in Minneapolis, have forgone trips to their Palm Desert, California, vacation home, as well as purchases of new furniture for that house and a new Mercedes-Benz S Class. But the distribution of COVID-19 vaccines “has given me confidence that the stock market will become more stable and life and the economy will be back to normal by summer,” says the retired serial entrepreneur. “I was wavering about buying a new car but am now planning to do it soon after I’m vaccinate...