MESSAGE
| DATE | 2021-01-19 |
| FROM | Ruben Safir
|
| SUBJECT | Subject: [Hangout - NYLXS] The money goes straight from the US Treasury,
|
From hangout-bounces-at-nylxs.com Tue Jan 19 19:07:53 2021
Return-Path:
X-Original-To: archive-at-mrbrklyn.com
Delivered-To: archive-at-mrbrklyn.com
Received: from www2.mrbrklyn.com (www2.mrbrklyn.com [96.57.23.82])
by mrbrklyn.com (Postfix) with ESMTP id 9C5F2163FB7;
Tue, 19 Jan 2021 19:07:52 -0500 (EST)
X-Original-To: hangout-at-nylxs.com
Delivered-To: hangout-at-nylxs.com
Received: from [10.0.0.62] (www.mrbrklyn.com [96.57.23.83])
by mrbrklyn.com (Postfix) with ESMTP id E5163163F60;
Tue, 19 Jan 2021 19:07:49 -0500 (EST)
To: Hangout , George Moskowitz MD
From: Ruben Safir
Message-ID: <9a7be5df-5583-0164-bb1f-424b0aed7fd5-at-mrbrklyn.com>
Date: Tue, 19 Jan 2021 19:06:50 -0500
User-Agent: Mozilla/5.0 (X11; Linux x86_64; rv:78.0) Gecko/20100101
Thunderbird/78.6.1
MIME-Version: 1.0
Content-Language: en-US
Subject: [Hangout - NYLXS] The money goes straight from the US Treasury,
to the local deposit, to Amazon to China... where it feeds the PLA
X-BeenThere: hangout-at-nylxs.com
X-Mailman-Version: 2.1.30rc1
Precedence: list
List-Id: NYLXS Tech Talk and Politics
List-Unsubscribe: ,
List-Archive:
List-Post:
List-Help:
List-Subscribe: ,
Content-Type: text/plain; charset="windows-1252"
Content-Transfer-Encoding: quoted-printable
Errors-To: hangout-bounces-at-nylxs.com
Sender: "Hangout"
Yellen Makes Case for Sweeping Stimulus Package in Face of GOP Skepticism
Kate Davidson
8-10 minutes
WASHINGTON=97 Janet Yellen made the case for another sweeping economic aid
package at her hearing to be the next U.S. Treasury secretary Tuesday,
pushing back against Republican skepticism of the need for more deficit
spending to bolster the recovery.
Ms. Yellen, a former Federal Reserve chairwoman, said the incoming Biden
administration=92s top priority is to relieve suffering caused by the
coronavirus pandemic, including providing aid for families, businesses
and communities hardest hit by the downturn as well as spending to bring
the virus under control.
Biden Urges Congress to Pass Economic Relief, Vaccine Plan
0:00 / 5:31
3:50
Biden Urges Congress to Pass Economic Relief, Vaccine Plan
Biden Urges Congress to Pass Economic Relief, Vaccine Plan
President-elect Joe Biden in a speech Thursday evening unveiled a plan
to help Americans weather the economic downturn caused by the
coronavirus pandemic. Photo: AP
=93We need to make sure that people aren=92t going hungry in America, that
they can put food on the table, that they=92re not losing their homes and
ending up out on the street because of evictions,=94 Ms. Yellen said. =93We
really need to address those forms of suffering, and I think we shouldnt
compromise on it.=94
If she is confirmed by the Senate as expected, Ms. Yellen will become
the administration=92s top economic-policy spokesperson responsible for
selling President-elect Joe Biden=92s $1.9 trillion proposal, which
includes another round of stimulus payments, extended jobless benefits,
grants for small businesses and a nationwide vaccination program. After
that, Ms. Yellen said, long-term investments will be needed in areas
such as infrastructure and workforce training to help make the U.S.
economy more competitive and productive.
Delayed or inadequate support, she warned, could lead to a
more-protracted economic recovery and cause long-term economic damage in
the form of permanent job losses and business closures that could weigh
on growth for years to come.
=93It=92s really critically important to provide this relief now,=94 she to=
ld
lawmakers on the Senate Finance Committee, which will vote on her
nomination.
Stocks rose Tuesday as Ms. Yellen=92s testimony spurred expectations for
additional stimulus spending, with the Dow Jones Industrial Average
gaining 116.26 points, or 0.4%, to 30930.52.
Ms. Yellen was one of several nominees for top posts in the new
administration who testified at Senate confirmation hearings on the eve
of Mr. Biden=92s inauguration. The others were Antony Blinken for
secretary of state, Gen. Lloyd Austin for defense, and Avril Haines for
director of national intelligence.
Like the other nominees, Ms. Yellen sounded a hawkish note on China,
calling it =93our most important strategic competitor=94 and promising to
address its =93abusive, unfair and illegal practices,=94 including
undercutting American companies by dumping products, erecting trade
barriers and stealing intellectual property.
=93These policies, including China=92s low labor and environmental
standards, are practices that we=92re prepared to use the full array of
tools to address,=94 she said.
Ms. Yellen affirmed the U.S.=92s commitment to market-determined exchange
rates, and she made clear the U.S. doesn=92t seek a weaker dollar for
competitive advantage, repeating comments The Wall Street Journal
reported Monday. She added that efforts by foreign countries to
manipulate their currencies are unacceptable. China has been accused by
successive administrations of keeping its currency artificially weak.
Some Republicans on the committee balked at Ms. Yellen=92s call for
further spending on top of the trillions of dollars Congress authorized
last year, including a $908 billion package enacted in December. And
they questioned her about the limits and risks of additional government
borrowing and the wisdom of tax increases while the economy remains weak.
More on the Biden Administration
=93The only organizing principle that I can discern is it seems to spend
as much money as possible, seemingly for the sake of spending it,=94 Sen.
Pat Toomey (R., Pa.) said of the latest plan.
GOP senators also objected to what outgoing Finance Committee Chairman
Chuck Grassley of Iowa called a =93laundry list of liberal structural
economic reforms=94 in Mr. Biden=92s relief package. Such measures include a
$15 minimum wage, as well as aid to state and local governments=97a
sticking point in recent talks in Congress.
Ms. Yellen acknowledged the government=92s mounting debt load, which
stands at $21.6 trillion=97or roughly 100% of a year=92s economic output.
But she urged lawmakers to put those concerns aside for now. Interest
rates are at historic lows and expected to remain there for some time,
making borrowing more affordable, she said.
=93To avoid doing what we need to do now to address the pandemic and the
economic damage that it=92s causing would likely leave us in a worse place
fiscally,=94 she said, =93than taking the steps that are necessary and doing
that through deficit finance.=94
-- =
So many immigrant groups have swept through our town
that Brooklyn, like Atlantis, reaches mythological
proportions in the mind of the world - RI Safir 1998
http://www.mrbrklyn.com
DRM is THEFT - We are the STAKEHOLDERS - RI Safir 2002
http://www.nylxs.com - Leadership Development in Free Software
http://www.brooklyn-living.com
Being so tracked is for FARM ANIMALS and extermination camps,
but incompatible with living as a free human being. -RI Safir 2013
_______________________________________________
Hangout mailing list
Hangout-at-nylxs.com
http://lists.mrbrklyn.com/mailman/listinfo/hangout
|
|
