President Biden ' s biggest challenge?

He ' ll have plenty, to be sure. He ' ll need to rebuild the hollowed-out cabinet departments; reverse the gutting of environmental, workplace safety, and consumer protection regulations; repair relations with allies around the world; fix immigration policy; and get the vaccine distributed quickly and fairly. The latter will happen eventually, and most of those items can be accomplished by executive order. However, the biggest challenges facing the country are the interconnected, if not essentially contiguous problems of repairing, rebuilding, and modernizing the nation ' s infrastructure and eliminating carbon emissions, and achieving full employment while elevating the living standards of working people. These are all one thing.This will require an immense investment, butthere is no reason not to make it. With interest rates at essentially zero, and high unemployment, there is no cost to government borrowing. We know exactly what will happen as soon as Biden takes office: Republicans in congress who had no problem whatsoever with blowing the deficit wide open during the past four years will suddenly get religion, discover that the federal deficit is the most critical problem facing the country, and demand austerity.  For those of you who think you understand economics because you have an accounting certificate, let me explain about the discount rate. If you are considering whether to borrow money to invest, you need to consider the payback period of your investmen...
Source: Stayin' Alive - Category: American Health Source Type: blogs