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Wall Street Reacts to Biden's $1.9 Trillion Covid-19 Economic Relief Proposal



Economists saw much to like in how President-elect Joe Biden’s $1.9 trillion stimulus plan will attack the pandemic and support the recovery, even if key elements may be inefficient or fail to provide long-lasting relief.

Billions in spending to distribute vaccines and improve testing was seen as a positive, along with expanded jobless benefits. At the same time, widespread direct payments won’t necessarily go just to people who need them the most, and it’s not clear if more ambitious parts of the plan could clear a closely divided Senate.

The plan includes proposals to send $1,400 checks to millions of American households, raise the federal minimum wage to $15 an hour from $7.25 and expand unemployment benefits. The package would also devote about $400 billion to speed Covid-19 vaccinations and school re-openings, and about $440 billion mainly to aid “the hardest-hit small businesses.”

This will be followed by a broader program introduced in February focused on longer-term goals such as infrastructure and climate change.

The initial proposal is “essentially a disaster-relief package,” said Michael Gapen, chief U.S. economist at Barclays Capital. The proposals are “not meant to be changing spending and taxes. Their effect is likely to be more limited in terms of multipliers, and effects on economic activity.”

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30 Comments

  1. If the money is going back to the tax payers to help them through the crisis and get them a vaccine so that they get to the end of the tunnel, and be able to fight back together in getting the economy back, what is the problem really?

  2. Luke 14:11
    [11]For whosoever exalteth himself shall be abased; and he that humbleth himself shall be exalted.

  3. did u think you are suspend trump everything it's ok? before trump got people hate and love! now u suspend him hiding him! people lost target to hate! of cause hate your new target new president joe biden!

  4. No time to waste says the people who spent a week further divide the country by impeachment the president even though it will never pass the Senate. Such complete and utter BS.

  5. Funny, President Trump said already that Americans deserve $2000 but Democrats shot it down… $600

  6. For any remaining smart people out there, they are VERY few. Where did the other trillion go? $300billion to people, 350billion to businesses, maybe another $200 billion for work help and???? That's $850 billion, where did the other trillion go? Even if you gave hospitals a ton more it still falls very short. Also how does Biden plan to pay this credit card back? You think the citizens can economically take a 50% tax? This is a dollar value destroyer, so if you drop the value of the dollar far to low to trade than what replaces it? Hmmm? Now we are starting to see the darkness behind the light.

  7. Sorry I spent a year in the desert after taking the Anthrax vaccine that was the best thing since sliced bread. The masks are not working. If masks worked the numbers would be going down. So by all means be patriotic mr biden take a fist full of masks and shove them where the son don't shine. While your bent over you might as a well kiss my ass..

  8. Lmaoooo none of this money is going to the American people. Read the bill stupid democrat voters

  9. He was better when he was hiding in his basement after the election… go back to your basement

  10. Hey, Thankyou everyone that Voted for Mafia Boss Biden, I'm happy to See you Suffering you got what you wished for…

  11. Jesus Christ saves from sin.
    Romans 3: 23
    For all have sinned, and come short of the glory of God;
    Hebrews 9: 27
    And as it is appointed unto men once to die, but after this the judgment:
    Isaiah 64: 6
    But we are all as an unclean thing, and all our righteousnesses are as filthy rags; and we all do fade as a leaf; and our iniquities, like the wind, have taken us away.
    Revelation 21: 8
    But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
    Romans 5: 8
    But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us.
    John 3: 16
    For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
    John 14: 6
    Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.
    Romans 10: 9-10.
    That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.
    For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.
    Jesus said John 5: 24
    Verily, verily, I say unto you, He that heareth my word, and believeth on him that sent me, hath everlasting life, and shall not come into condemnation; but is passed from death unto life.
    1John 5: 10-13
    He that believeth on the Son of God hath the witness in himself: he that believeth not God hath made him a liar; because he believeth not the record that God gave of his Son.
    And this is the record, that God hath given to us eternal life, and this life is in his Son.
    He that hath the Son hath life; and he that hath not the Son of God hath not life.
    These things have I written unto you that believe on the name of the Son of God; that ye may know that ye have eternal life, and that ye may believe on the name of the Son of God.
    Ephesians 2: 8-9
    For by grace are ye saved through faith; and that not of yourselves: it is the gift of God:
    Not of works, lest any man should boast.
    Romans 8: 1
    There is therefore now no condemnation to them which are in Christ Jesus, who walk not after the flesh, but after the Spirit.
    1 Corinthians 15: 3-4
    For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures;
    And that he was buried, and that he rose again the third day according to the scriptures:
    2 Corinthians 5: 21
    For he hath made him to be sin for us, who knew no sin; that we might be made the righteousness of God in him.
    ………………………………………………………………………………..

  12. You said 2000 didn’t say nothing about no goddamn for 1400 don’t start with your fucking lies Joe Biden stop with the bullshit

  13. Now if he only has a 1.9 trillion dollars! And if he was president maybe he'd be worth listening to

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