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    This is a "high-risk game"

    This is a “high-risk game”

    A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

    A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

    Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

    Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

    How lucky are Indian children in the United States to get out of a "boarding school" alive?

    How lucky are Indian children in the United States to get out of a “boarding school” alive?

    Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

    Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

    Want to go to Mars? Solve these problems first.

    Want to go to Mars? Solve these problems first.

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    This is a "high-risk game"

    This is a “high-risk game”

    The government recruits "rat control chiefs" with high salaries in New York, USA

    The government recruits “rat control chiefs” with high salaries in New York, USA

    San Francisco "allows mechanical police to kill people" and Pandora's magic box opened

    San Francisco “allows mechanical police to kill people” and Pandora’s magic box opened

    Asia’s first star was online rioted by South Korean netizens

    Asia’s first star was online rioted by South Korean netizens

    scoring two goals in 90 seconds, Real Madrid "resurreated" in the Champions League to the finals

    scoring two goals in 90 seconds, Real Madrid “resurreated” in the Champions League to the finals

    Schedule of the 2024 Paris Olympic Games announced

    Schedule of the 2024 Paris Olympic Games announced

    Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

    Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

    Chinese women's football team competes in the 2022 Indian Women's Football Asian Cup

    Chinese women’s football team competes in the 2022 Indian Women’s Football Asian Cup

    Djokovic issued a statement: Extremely disappointed with the judgment of the Australian court

    Djokovic issued a statement: Extremely disappointed with the judgment of the Australian court

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    This is a "high-risk game"

    This is a “high-risk game”

    A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

    A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

    The government recruits "rat control chiefs" with high salaries in New York, USA

    The government recruits “rat control chiefs” with high salaries in New York, USA

    The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

    The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

    8 cases of hepatitis in children with unknown causes were found in Argentina

    8 cases of hepatitis in children with unknown causes were found in Argentina

    Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

    Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

    Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

    Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

    With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

    With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

    255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

    255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

    Israeli Prime Minister Bennett is quarantined due to his daughter's diagnosis of COVID-19

    Israeli Prime Minister Bennett is quarantined due to his daughter’s diagnosis of COVID-19

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      This is a "high-risk game"

      This is a “high-risk game”

      A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

      A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

      Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

      Musk shouted at Bezos: If you want to dominate the space race, spend less time bathing in hot water

      How lucky are Indian children in the United States to get out of a "boarding school" alive?

      How lucky are Indian children in the United States to get out of a “boarding school” alive?

      Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

      Japanese billionaires broadcast live in space, saying the next stop is Mariana Trench

      Want to go to Mars? Solve these problems first.

      Want to go to Mars? Solve these problems first.

      Trending Tags

      • Google
      • Apple
      • Microsoft
      • Xbox
      • Huawei
      • Science & Technology
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      This is a "high-risk game"

      This is a “high-risk game”

      The government recruits "rat control chiefs" with high salaries in New York, USA

      The government recruits “rat control chiefs” with high salaries in New York, USA

      San Francisco "allows mechanical police to kill people" and Pandora's magic box opened

      San Francisco “allows mechanical police to kill people” and Pandora’s magic box opened

      Asia’s first star was online rioted by South Korean netizens

      Asia’s first star was online rioted by South Korean netizens

      scoring two goals in 90 seconds, Real Madrid "resurreated" in the Champions League to the finals

      scoring two goals in 90 seconds, Real Madrid “resurreated” in the Champions League to the finals

      Schedule of the 2024 Paris Olympic Games announced

      Schedule of the 2024 Paris Olympic Games announced

      Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

      Secretary-General of the Qatar World Cup Organizing Committee: Welcome to Qatar

      Chinese women's football team competes in the 2022 Indian Women's Football Asian Cup

      Chinese women’s football team competes in the 2022 Indian Women’s Football Asian Cup

      Djokovic issued a statement: Extremely disappointed with the judgment of the Australian court

      Djokovic issued a statement: Extremely disappointed with the judgment of the Australian court

    • Lifestyle
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      This is a "high-risk game"

      This is a “high-risk game”

      A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

      A hospital in Paris was forced to cancel surgery to transfer patients due to cyberattacks

      The government recruits "rat control chiefs" with high salaries in New York, USA

      The government recruits “rat control chiefs” with high salaries in New York, USA

      The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

      The United States reported 180 cases of hepatitis in children with unknown causes, spreading to 36 states and territories.

      8 cases of hepatitis in children with unknown causes were found in Argentina

      8 cases of hepatitis in children with unknown causes were found in Argentina

      Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

      Students in many parts of the United States went on strike to protest against the severity of the school epidemic and asked officials to take practical measures to prevent the epidemic

      Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

      Belgian fighting champion dies of COVID-19: Refuses to go to hospital before death, saying that COVID-19 is just a small virus

      With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

      With the increasing number of confirmed cases of COVID-19, the Indian capital New Delhi will impose a curfew on the 27th.

      255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

      255 U.S. personnel have been diagnosed with a cluster infection in U.S. military camps in Okinawa Prefecture, Japan

      Israeli Prime Minister Bennett is quarantined due to his daughter's diagnosis of COVID-19

      Israeli Prime Minister Bennett is quarantined due to his daughter’s diagnosis of COVID-19

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      YC News

      Biden strongly supports increased fiscal stimulus to deal with the pandemic

      December 8, 2020
      in Politics
      0
      Biden team responds to Pentagon suspending transition work: We disagree

      Biden (Picture: Associated Press)

      December 8 that U.S. media said that U.S. President-elect Biden said that if it could help turn the economic situation around, the federal government should not shrink back for fear of increasing fiscal deficits.

      He said in Wilmington, Delaware, on the 4th: “Take action now, even if there is a fiscal deficit, we can boost economic growth in the near future. In fact, economic research shows that in a situation like this crisis today — especially in the case of low interest rates — inaction to fight the pandemic will hurt the economy, hurt the workforce, weaken economic growth, and lead to an increase in national debt.”

      Biden supports a $908 billion ($6.5 billion) coronavirus relief package that is under negotiation in Congress, the report says that the November employment report shows that the situation is “gritty serious” and further action is needed.

      He said: “Any package adopted during the ‘Limp Duck’ period is not enough. This is just the beginning. Congress needs to act again in January next year.”

      The U.S. reported 245,000 new jobs in November, with unemployment falling to 6.7% from 6.9% in October.

      The number of new jobs in November was the smallest in months, far lower than analysts had previously expected about 450,000.

      Former Fed chairman Janet Yellen said that given the dual crisis of the COVID-19 epidemic and related economic consequences, “urgent” action is crucial. Biden chose Yellen as the next finance minister.

      “Inaction will lead to a self-reinforced economic downturn that will cause more damage,” Yellen said.

      The report said that this is good news for liberal economists and advisers of former President Obama. They believe that deficits are irrelevant in the near future.

      “It’s really exciting to hear Biden team members like Yellen say that,” said Pete DeAlessandro, a 2016 and 2020 campaign adviser to Bernie Sanders, who was in the Democratic presidential race.

      “We don’t have to cut, cut, cut, cut, cut, cut, we actually need to do the opposite, so we can get out of trouble,” DeAlessandro said.

      Biden also appointed Nella Tanden, director of the Center for American Progress Research, as the next director of the White House Budget Office.

      “Tandon is not the progressives’ first choice, but she’s more appropriate than to arrange someone who will immediately turn to debt resolution,” said Alexandra Rojas, executive director of the liberal Justice Democrats.

      “Tandon has been countering the senseless concerns about the deficit over the last few years,” Rojas said.

      The report pointed out that liberal economists are increasingly agreeing that debt and deficit should not be the top concern of the broader discussion on economic growth, especially in view of the current economic situation in the context of the COVID-19 epidemic.

      “The future may be different, but we need to consider fiscal policy based on the view that deficits are inevitable – and likely still very large – for achieving the goal of full employment and financial stability,” said Lawrence Summers, a former senior economic adviser to the Obama administration.

      A new discussion draft paper written by Summers in collaboration with Jason Furman, a former Obama economic adviser, believes that given the current historic low interest rates, adopting “overly restrictive” fiscal policy may not achieve full employment.

      The report said that regardless of future plans, the public health crisis has accelerated the growth of government spending and exacerbated the debt and deficit crisis that has become out of control.

      The federal government’s deficit of $3.1 trillion for the fiscal year ended on September 30 is more than twice the previous record set by the George W. Bush and Obama administrations after the 2008 economic crisis.

      Tags: BidenUnited States

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