The massive stimulus package is the keystone in President Joe Biden’s effort to dig the US economy out of the pandemic-induced doldrums. The American Rescue Plan, as it is known, is unprecedented in its scope, coverage, and ambitiousness.
Its goals, according to the White House, are “investing in America, creating millions of additional good-paying jobs, combatting the climate crisis, advancing racial equity, and building back better than before.”
EXACTLY HOW BIG IS 1.9 TRILLION DOLLARS?
It’s big. To put it in context, Biden’s American Rescue Plan alone is larger than most countries’ annual economic output, running slightly behind Italy and ahead of Brazil according to 2019 data from the World Bank.
And it is only the latest US measure. In December, Congress passed a US$900 billion relief bill, on top of more than US$2.5 trillion of aid authorized during President Donald Trump’s final full year in office.
If the US appears to have spent more on pandemic relief, that’s because it has. But seen against the still-massive US economy, that is understandable. The US simply has more to spend.
As a percentage of GDP, the US aid response comes up to 27.09 percent (including aid under the Trump and Biden administrations). That is comparable to Singapore’s stimulus (27.05 percent) but behind Germany (35.87 percent) and Japan (54.53 percent).
WHY IS THIS STIMULUS SO SPECIAL?
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THAILAND'S ECONOMY FACES AN UPHILL BATTLE
Before the pandemic, Thailand was considered one of ASEAN’s success stories. It was the No. 2 economy in Southeast Asia; had a strong manufacturing sector; and was a favourite among foreign investors.
UNETHICAL SELF-PROMOTERS WALK AMONGST US
Back in 1988, I was introduced to a body of research that focused specifically on the concept of self-promotion, prospecting, and new business development. This body of research was an illuminating, eye-opening, life-changing experience for me in many ways – it was a key catalyst that helped kick-start the work I do today.
IS YOUR BOSS A CHIEF CRITIC OFFICER?
LEADERSHIP EXCELLENCE WITH MARSHALL GOLDSMITH
KNOW THE PEOPLE ISSUES THAT SABOTAGE YOUR M&A DEALS
To survive in an economy so impacted by the pandemic, many business leaders and investors are turning to deals to adapt and survive.
SQUEEZING THE LAST DROP OF PRODUCTIVITY
In business circles, ‘productivity’ is a magic word. It triggers reactions from business owners and government alike, both of which seek to increase it. Increased productivity leads to greater output, decreased cost, and a more efficient operation all around.
A VENTURE FOR LARGE COMPANIES TO MOVE LIKE STARTUPS
A S$10 million pilot programme to support Singaporean companies has been launched by Singapore’s Economic Development Board (EDB). The programme is designed to build ventures in new growth areas beyond their existing core businesses.
IN THE US, EMPLOYEES ARE QUITTING INSTEAD OF GIVING UP WORKING FROM HOME
In America, the pandemic is receding. But in response, the push by some employers to get people back into offices is clashing with workers who’ve embraced remote work as the new normal.
FUELLING THE GROWTH OF HIGH-TECH MANUFACTURING
Industry 4.0 is coming, and it will mean huge changes to the manufacturing process. Already we are seeing factories adopting processes enabled by advanced computing and AI.
GROWING A SUSTAINABLE, PLANT-BASED MEAT BUSINESS
Plant-based meats are now the latest trend in global cuisine. Fuelled by concerns over animal welfare and the environmental impact of livestock farming, consumers and restauranteurs are looking to assuage this demand with alt-meat.
A RAMPAGING PANDEMIC
WITH COVID-19 ON THE RISE AGAIN, WHAT ARE GOVERNMENTS DOING TO HELP SMEs?
USS NEW JERSEY
The Big J is One of Three Iowa-Class Battleships That’s Now a Museum
How to Fix Your Credit Reports
Before you apply for a mortgage or car loan, check your credit files for errors that could derail your plans.
Where to Invest Now
AFTER A POWERFUL START, STOCKS WILL GRIND HIGHER IN THE SECOND HALF OF 2021. BUT WATCH OUT FOR CURVEBALLS.
Marriage and Taxes: What You Need to Know
Most couples will owe less in federal taxes by filing jointly, but sometimes it pays to go it alone.
AMERICA IS GETTING OLDER
Census data show a decline in younger workers. That puts more pressure on programs that support seniors.
THE NICKEL BEHIND THE NICKEL
The word “nickel” is a homonym with two distinct meanings. It refers to both our five-cent coin and an element. Everyone is familiar with the coin, but not necessarily with the element.
All–new iMac is here!
Slim, stylish, next–gen iMac with Apple silicon
The basic premise of composting is simple: Biodegradable waste (food scraps, coffee grounds, old leaves) returns to the ground from whence it came. But composting can be more complex than you think. We’re here to demystify the process so you can make it a regular part of your routine.
The New Economics
Policymakers learned the lessons of 2008 and deployed a wider set of tools to help repair the damage from Covid. They know how to create a recovery, but can they manage the boom?
WHEN IS ALL THIS going to be over?