https:\/\/www.vox.com\/policy-and-politics\/21417526\/coronavirus-economy-recession-recovery-cares-act-unemployment-joe-biden<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"“Already, the current downturn is turning out to be less traumatic for wealthy and well-established people than it is marginalized groups and the poor.<\/p>\n
The stock market is soaring, even though millions of people are out of a job. The Federal Reserve has really stepped up in terms of monetary policy to inject liquidity into the economy and keep markets afloat, while Congress hasn\u2019t really kept up its end of the bargain. It passed the Coronavirus Aid, Relief, and Economic Securities Act, or the CARES Act, in March, but much of the support from it has dried up, and it\u2019s not clear what, if anything, Capitol Hill plans to do next on the economy. <\/p>\n
\u201cThe rich experience these recessions much differently than the rest of us,\u201d Bharat Ramamurti, managing director of the Roosevelt Institute\u2019s corporate power program, told me. \u201cThe pain is much more time-limited, it\u2019s not as deep, and as a result, they recover much more quickly, and then they\u2019re in a position to take advantage of the fact that other actors in the economy are still struggling and can use that to further consolidate their control and their power.\u201d”<\/p>\n
…<\/p>\n
“After returning from recess in September, Senate Republicans put forth a \u201cskinny\u201d stimulus to counter a much more ambitious package proposed by Democrats in the House in May. But even the GOP\u2019s bill failed in the Senate \u2014 as Vox\u2019s Li Zhou explained, in part because it was more of a messaging bill than a sincere effort at helping the American public. The economy isn\u2019t as bad as some of the doomsday predictions, so some lawmakers seem to have decided more assistance isn\u2019t necessary.” <\/p>\n
https:\/\/www.vox.com\/policy-and-politics\/21417526\/coronavirus-economy-recession-recovery-cares-act-unemployment-joe-biden<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[588,409,483,217,165,363,592],"class_list":["post-3564","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-corona","tag-coronavirus","tag-covid-19","tag-economics","tag-economy","tag-inequality","tag-recession"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/3564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3564"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/3564\/revisions"}],"predecessor-version":[{"id":3565,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/3564\/revisions\/3565"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}