Joe Biden’s five huge economic projects

After several endless weeks of waiting, the new US President Joe Biden was sworn in in Washington on Wednesday January 20 in front of all television cameras around the world. He comes after four chaotic years in office that have dramatically changed the face of America in the eyes of the planet. If Joe Biden’s arrival at the White House has been applauded by certain economic and financial circles, the Trumpist movement will remain firmly anchored in American society. The billionaire Republican thus collected 73.9 million votes, or 11 million more ballots than in 2016. In contrast, the former senator won 80 million votes, or 14 million more votes compared to to Hillary Clinton. This balance sheet means that the Democratic camp will have limited room for maneuver in a country ravaged by an endless pandemic and a huge economic recession. Suffice to say that the projects awaiting the new American head of state are colossal.

Investiture of Joe Biden Wednesday January 20. Credits: ..

A 1.9 trillion dollar emergency plan

In 2020, the US economy plunged to a historic level of 2.4% and unemployment ended at 6.7% according to the International Labor Office (ILO). Millions of jobs have been destroyed in just a few months and the number of victims of the pandemic continues to grow. Faced with this slump, Joe Biden announced an emergency plan which will be followed by a recovery plan whose outlines have yet to be clarified. Among the main measures mentioned are the sum of 1,400 dollars distributed directly to citizens according to income. This envelope should represent approximately 465 billion dollars of the budgetary stimulus. He also plans to increase unemployment insurance by about $ 400 per week ($ 350 billion). He also announced a massive arsenal of aid for communities in the order of $ 350 billion. “This 1.900 billion plan aims firstly to maintain or extend emergency measures on households. These measures are relatively consensual. In this package, the increase in the minimum wage at the federal level of $ 15 could, however, give rise to longer discussions with Republicans “ explains the director of …

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