The Hill reports on S&P Global's analysis of the Biden coronavirus relief bill, and it's really good news and more reason for Democrats to pass the damn bill:
President Biden's $1.9 trillion coronavirus relief proposal would restore the economy to pre-pandemic levels by this summer, according to an analysis published Monday by S&P Global.
"We find that if the $1.9 trillion package were put into law, the U.S. economy would reach pre-crisis levels in the second quarter of 2021, with a stronger demand-driven path of growth through 2023," the report said.
Biden's proposal would also set the economy on course to exceed its pre-pandemic growth path until the end of 2022, when it would start to slow, S&P said.
On the jobs front, S&P said the injection of government funds would likely push unemployment down below 4 percent by mid-2023, a year earlier than its current forecast. The nationwide unemployment rate stood at 6.7 percent in December, the most recent figures available from the Labor Department. (our emphasis)
It's also is wildly popular with the public.
Fortunately, it looks like Democrats are gearing up to pass the bill through reconciliation, perhaps with some tweaks. Do it, ignore the bad faith of Republicans and the he said/she said media, and be prepared to reap the political benefits.
