Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
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need for a progressive economic program of combining ambitious “demand-side” welfare policies with “supply-side” investment programs like the Inflation Reduction Act (IRA). That combination is likely to be more conducive to actually helping people — while also being politically popular.
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The relatively generous welfare policies they passed at the beginning of the pandemic helped stimulate demand, making the recession shorter and the recovery from it stronger than would have been the case otherwise.
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More recent policies, like the Bipartisan Infrastructure Bill, the IRA, and the CHIPS Act, have made major investments in domestic manufacturing, further buoying the economy.
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Those included emergency Medicaid and food stamp expansions, eviction moratoria, increased child tax credits, and many other anti-poverty measures.
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passing the American Rescue Plan in early 2021, a relatively generous enlargement of the welfare state in response to the COVID-19 crisis, which focused largely on providing direct support to households.
✏️ Two sets of policies.. this is the first set that helped the people directly 🔗 View Highlight
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The second break came with the Bipartisan Infrastructure Bill, the IRA, and the CHIPS Act — investments focused on boosting supply-side production, including green industry. These policies aim to boost domestic manufacturing and job growth and to help speed the country’s decarbonization.
✏️ This is the second set, and it helps things from a bigger perspective, and more on the industrial end. 🔗 View Highlight
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by letting the COVID welfare state collapse, the economic and political benefits of this new industrial policy are being muted. Instead of combining necessary investments in green manufacturing and infrastructure with social safety net provisions to protect the vulnerable, the federal government seems to be giving with one hand and taking with the other.
✏️ The social set of policies are being allowed to lapse. That mutes the goodwill of the other policies because you’re directly hurting the people. 🔗 View Highlight
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The “demand-side” and “supply-side” policies serve different goals, and both sorts of programs are necessary for creating an economy that serves everyone’s needs. We need the government to invest aggressively in clean energy and green jobs. We also need programs that guarantee people health care, food, and housing.
✏️ We need both sets to serve all needs. 🔗 View Highlight