Although the Democrats fought hard on Friday to pass a much needed stimulus for the economy, there’s light at the end of the tunnel, as the economy is already showing some signs of recovery.
There’s much more work to be done, of course, but the end of February was a significant milestone, as it was the first full month of President Biden’s first term, and despite economists’ predictions that the economy would only add 210,000 new jobs, it hit nearly twice that: an increase of 379,000 new jobs, or about a 0.1% drop in the country’s unemployment rate.
There’s reasons to be more optimistic, as the number of vaccinations continue to increase, with potentially enough vaccine supply for the entire country by the end of May – which means a number of business restrictions are likely to be relaxed in the months ahead, something that will add to consumer confidence, and the stimulus will deliver a much needed boost to the economy.
The latter part is a big reason for why Republicans are using every last delaying tactic in the book, as they’re hoping that a struggling economy will give them congressional victories in 2022, and to run on the lie that the GOP is good for the economy. In 2010, they relied on a fairly similar playbook when it came to the midterm elections, obstructing all forms of relief wherever they could. It’s a bit more difficult to play that game this time, as it’s very clear why the economy is struggling and who is holding back the relief.
James Sullivan is the assistant editor of Brain World Magazine and an advocate of science-based policy making