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Economic Stimulus

Biden Stimulus Bill: What Will It Take To Really ‘Rescue America?’

Joe Biden’s recently-announced pandemic relief package, the so-called American Rescue Plan, is the new administration’s top legislative priority. With the bar set tragically low by the Trump government, any action at all by the Biden administration may feel like a welcome improvement. But the severity of the pandemic in the country and the threat of emerging, highly-transmissible new strains of the virus requires radical solutions to address the urgent daily needs of working and poor people. The Democrats control both houses of Congress and the executive branch. The filibuster that requires 60 Senators to vote in favor of closing debate on a measure is not a law, but an internal Senate rule that the Democratic majority can simply decide to do away with.

Increase In Unemployment Insurance Claims Previews The Coming Recession

Initial unemployment insurance (UI) claims for the week ending last Saturday, March 14, showed an increase in initial UI claims of 70,000 from the prior week—from 211,000 to 281,000. This was the first official labor market data release to show the early signs of the coronavirus shock. Prior to this week, unemployment insurance claims had been hovering between roughly 210,000 and 230,000 for more than two years. The jump last week was the biggest one-week increase since 2012 (and with an increase of 33%, it was the biggest increase in percent terms since 1992—bigger than anything we saw during the Great Recession). For comparison, the increase of 70,000 last week was slightly more than the increase of 61,000 due to Hurricane Harvey in the week ending September 2, 2017.

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Due to the attacks on our fiscal sponsor, we were unable to raise funds online for nearly two years.  As the bills pile up, your help is needed now to cover the monthly costs of operating Popular Resistance.

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