President Biden confiscated the anemic employment report on Friday to plead for his $ 1.9 trillion aid package as he prepares the public for the long road to a full economic recovery and robust job growth.
Latest: Biden insisted in a White House speech that he would not reduce the size of stimulus controls to $ 1,400 per person included in his proposal.
- “That was promised to the American people,” he said, adding that the amounts could be adjusted according to the level of income to ensure that they are directed to “people who need it.”
- Biden also gave a clear indication that he would prioritize size and speed over bipartisanship, saying: “If I have to choose between getting help right now for Americans who are suffering so badly and getting stuck in a long negotiation … choice. “
Leading the news: The unemployment rate in January fell to 6.3% in Trump’s last month in office, but the economy gained only 49,000 jobs.
- “Only 6,000 private sector jobs have been created,” Biden said. “At this rate, it will take 10 years for us to reach full unemployment.”
- “This is not hyperbole, it is a fact,” he added.
The whole picture: Biden met with House Democrats on Friday to work out strategies to adopt his aid plan, which many Republicans – and former Treasury Secretary Larry Summers – have criticized for being too big.
- Biden appeared to address these arguments directly, saying: “President Obama put me in charge of the Recovery Act and it was hard for the devil to get the votes for it to start. I received. But one thing I’ve learned is, you know, we can’t do much here. We can do too little. “
- “It’s not just the macroeconomic impact on the economy and our ability to compete internationally,” he added. “It’s people’s lives. Real people live badly and we can solve the problem.”
What to look for: After 15 hours of debate, the Senate voted 51-50 early Friday morning to approve the budget resolution that will be used as a vehicle for Biden’s $ 1.9 trillion aid proposal – Vice President Kamala Harris voting his first equal vote.
- Once the final resolution is adopted by Parliament, parliamentarians will start working on drafting the package.
- House Speaker Nancy Pelosi said Friday she hopes to send the rescue package to the Senate within two weeks.
Go deeper: The Trump-COVID legacy