Tag: U.S. Economy
The death of Democrats' $1.75 trillion reconciliation measure could deprive the U.S. economy of $60 billion in gross domestic product (GDP) over the next three quarters, hampering the nation's fragile recovery.
The underlying problem is not inflation. It’s lack of competition. Corporations are using the excuse of inflation to raise prices and make fatter profits.
What’s really happening is more accurately described as a living-wage shortage, a hazard pay shortage, a childcare shortage, a paid sick leave shortage, and a health care shortage.
Until the structural imbalance is remedied, the American economy will remain perilously fragile.
Upgrading water infrastructure would make Americans healthier while delivering a major boost to the economy.
Workers might be in a better position to push wages up if employers are forced to compete with both the fear of the pandemic and increased unemployment payments.
Now, with a quarter of the population facing economic collapse, the need for a guaranteed income is magnified to a level last seen in the Great Depression.