Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Congress adjourned without passing another stimulus bill at a moment many experts say it is critical to prop up the economy.
"If I'm the chairman of the finance committee, [I will] make sure everybody learns the lesson from 2009. You don't take your foot off the gas in the middle of an economic recovery," Sen. Ron Wyden said in an interview.Congress pumped more than $3 trillion in emergency federal spending into the economy this spring, as the pandemic caused millions of layoffs and small business bankruptcies.
More people are leaving the labor force and the number of permanent layoffs is rising, according to Wendy Edelberg, the director of the Hamilton Project at the Brookings Institute. "They learned the lesson from 2008, going big and moving fast" in March, Claudia Sahm, a former Federal Reserve economist and expert on recessions, told Business Insider. "Now, all those lessons are out the door because they're doing the exact same thing, saying the economy will take care of itself. "
"Anything that takes an average across the economy isn't gonna place proper weight on the extreme suffering of those at the very low-end," Michelle Evermore, an unemployment expert at the National Employment Law Project, told Business Insider. Nearly 23 million people are receiving some form of unemployment benefits.
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