Some Democratic U.S. Senators have called on President Biden to change the way bailout checks are currently distributed and to consider allowing the federal government to issue checks to people on a fixed basis so that they can live until the New Guinea virus is over; however, the U.S. debt has soared to approximately $28 trillion and Inflation has reached a ten-year high.
A letter from ten Democratic U.S. senators, including Bernie Sanders, Elizabeth Warren and Ron Wyden, points out that each round of bailout checks must be negotiated and distributed at intervals of several months, and that the federal government should regularly distribute bailout checks directly to people until the The federal government should issue relief checks directly to people on a regular basis until the Epidemic is over. The letter did not specify the amount of the checks that would be issued on a regular basis.
Congress enacted legislation a year ago to issue $1,200 cash checks for people in need, and last December issued another $600 in relief checks. The Biden $1 trillion epidemic relief bill, to be considered by the Senate this week, would give people $1,400 in relief checks.
Progressive members of Congress and some Democratic lawmakers have argued that regular government checks for the public are an important way to speed up economic recovery. In January, more than 50 members of Congress joined together to ask the Biden Administration to support a proposal to issue $2,000 monthly relief checks to people on a regular basis during the epidemic.
Mississippi College assistant professor of economics Bolen (Brandon Bolen) said that the national debt itself is a major problem, and the new crown bailout has added to the government deficit; national debt plus heavy social welfare spending, may make the U.S. economic curve towards the “unbearable” development situation.
In addition, U.S. bonds fell hard again on the 3rd, long-term bond yield jumped to a high this week, inflation expectations also climbed to a new high of more than a decade; 10-year U.S. bond yield jumped 10.3 basis points to 1.495%, a steep rise reminiscent of the February 25 bond market flash crash.
As the new crown epidemic outbreak, the government has continued to launch bailout cases, the U.S. national debt has soared to 28 trillion U.S. dollars, the inflation rate also reached the highest in a decade, shoppers have a clear sense.