Janet Yellen, nominated by Joe Biden for Secretary of the Treasury, will come before the Senate on Tuesday to lift the economy from Moss to confirm it in this dominant position, with Kovid-19 leading it.
At the age of 74, Yellen would call on legislators to pay no heed to spending, when Republicans, who would be in the opposition, would worry about declining public accounts.
Biden, who will take over on Wednesday, submitted an emergency plan of $ 1.9 trillion last week, followed by a reactivation plan that still needs to be specified, if it is approved in Congress.
Yellen should call on legislators to adopt the scheme without looking into the country’s indebtedness as soon as possible.
“Economists are not always in agreement, but I think there is a consensus today: without new actions, we risk a long and drastic recession, and subsequently a long-term mark on the economy,” he argues, Excerpts from his speech received by The Wall Street Journal.
Biden-announced expenditures may meet Republicans with merit, usually reluctant to make such sweeping intervention by the federal state as Democrats suggest, with a four-year mega-package of heavy spending by the Donald Trump administration . Total aid for the coronovirus crisis in 2020 is approximately $ 2.7 trillion.
The fiscal deficit of the United States is increasing and reached between October 2019 and September 2020, closing the previous fiscal year, which is about $ 3.132 trillion, a record.
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