In St. Paul, DFL Gov. Tim Walz wants to spend $1.8 billion on infrastructure projects and asserts increased state spending would aid a moribund economy. In Washington, both parties in Congress agree with President Donald Trump on the need for a second COVID-19 relief spending bill. Amounts from $1 trillion to $3 trillion get tossed about casually.
The president, hard pressed in pre-election polls, and congressional Democrats want the higher numbers. Republicans in Congress generally support more spending, but at the lower end of the scale. However, the Mitch McConnell-led GOP majority in the Senate is in such disarray that its members cannot agree among themselves on what to propose or how to bargain.
Quite a lot has been going on:
Former White House Economic Advisor On Current Administration's Policies : NPR
NPR's David Folkenflik speaks with former White House economic advisor Tomas Philipson. He was the acting chairman of the White House Council of Economic Advisers until he resigned in June.
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PHILIPSON: But on average, it went up for them as opposed to go - gone down in terms of disposable income.
As a layman, as a noneconomist, it would seem to me that people might have had, in the second quarter, this big burst of disposable income in part because in the first quarter, so much went away. It would almost seem as though, for a lot of people, you're saying, well, this has worked.
Perspectives: Hygiene - How hand-washing explains economic expansion | Books & arts | The
London resembles most other cities in the world—in which people, activity and innovation are increasingly concentrated. Two millennia ago, real incomes across much of the world, such as they were, stood between perhaps $1,000 and $1,500 or so in today's money. Incomes in advanced economies are now 20 times that or more. High incomes are the consequence of decades of compounding economic growth, a process in which urbanisation has played a fundamental role.
Even so, the progression of the bubonic plague from settlement to settlement was obvious enough to make people aware of the threat of contagion. Communities began taking some of the first steps toward preserving public health by closing themselves off to foreigners or otherwise limiting access to their towns.
Storybook Farm: Derby Day back on track | Economics | oanow.com
Attendees wear their best derby-day hats at last year's Storybook Farm's Kentucky Derby Day on May 4, 2019.
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From left, Dawn Ware, Georgia Todd and Erik Mikkelson enjoy Storybook Farm Kentucky Derby Day on Saturday, May 4, 2019.
Storybook Farm announced this week that it will move ahead with plans for its annual Derby Day celebration, its largest fund-raising event of the year, with a variety of safety measures put into effect for the new date set on Sept. 5.
Other things to check out:
Buttonwood - The SPAC hack | Finance & economics | The Economist
I N AN EPISODE of "The Phil Silvers Show", a 1950s TV comedy, Ernie Bilko (played by Silvers) discovers that his fellow army sergeants have fleeced a new recruit in a poker game. His plan to get the money back involves leasing a shop. "It's just an empty store," he insists. The others fear they are missing out. "When the smartest operator in the whole United States army suddenly decides to rent a store, we don't ask no questions," says one. "We just want to be cut in."
Like NATO, but for Economic Warfare - The Atlantic
The problem is that the United States and its allies currently lack the ability to respond to the type of geo-economic threats that China is making. Specifically, they need a means of taking collective action when Beijing attempts to use economic power as a tool of political coercion. No country should face such threats alone.
Many of America's most important Cold War–era institutions, especially NATO, were designed to deter a primarily military threat from the Soviet Union. But back then, Moscow—unlike Beijing now—had limited economic leverage against the West.
Economists vs. Common Sense - WSJ
Most Americans understand intuitively that if people make more money by not working, fewer people will work. Then there are politicians and economists who want to pass out more money while claiming that disincentives to work are irrelevant.
Biden Wants The Fed To Help Close Racial Economic Gaps. How Would That Work? : NPR
Democratic presidential candidate and former Vice President Joe Biden speaks at a campaign event in Wilmington, Del., on Tuesday. Andrew Harnik/AP hide caption
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This week, Joe Biden's campaign released its fourth and final plank in the former vice president's package of economic ideas: a plan for racial economic equity . It's a 26-page rundown of policies ranging from a plan to boost small businesses to a first-time homebuyer tax credit.
Happening on Twitter
Character matters. We need a real President who will unite this country, revive the economy, end the epidemic and… https://t.co/e6MfGQwzVB TheDemCoalition (from Washington, DC) Sat Aug 01 14:42:37 +0000 2020
"Your eyes, loud-soft, with crying and with smiles, are older than a million years. And they are young. The real. T… https://t.co/NB5Z4me6nI ava (from Fourth World) Sat Aug 01 20:55:01 +0000 2020
For real though, gen z is different. While we were raised for a world that no longer exists, they have never attend… https://t.co/i36BhFtxcM Imani_Barbarin (from Pennsylvania, USA) Sun Aug 02 00:37:54 +0000 2020
The CEO of the company that won a contract for coronavirus data collection had links to the New York real estate wo… https://t.co/0CBulfylrA CREWcrew (from Washington, D.C.) Sun Aug 02 00:30:03 +0000 2020
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