“The proposal addresses the critical needs of the American people,” said Jared Golden, a Democratic lawmaker from the state of Maine, “but it also buries the American people under the mountains of pointless costs.”
Biden and the Democrats’ proposal will bounce the U.S. national debt to $ 30 trillion – after last year, under the Trump administration, already passed plans worth about $ 4 trillion. Republican lawmakers say there is no need for the additional plan, and that in practice it is “List of Democratic Wishes” under the guise of an economic aid program for Corona.
According to an analysis by the Center for Federal Budgetary Responsibility, a non-partisan research institute, only 1% of the program is dedicated to increasing the distribution of vaccines across the country, and only 5% is earmarked for public health.
On the other hand, the proposal will work to increase the minimum wage in public office by 2025 to $ 15 per hour – an increase of more than 100% from the current wage, which stands at $ 7.25 per hour and has not been updated since 2009. However, this item may be removed by Senate vote. Moderate Democrats, due to the huge cost of the program.
Under the proposal, U.S. citizens with an annual income of less than $ 75,000 would receive direct assistance of $ 1,400, and the unemployment benefits and pay that the state would pass on to each child would be increased.
One of the most controversial aspects of the plan is the transfer of $ 350 billion to various countries, mostly democracies. According to Republicans, this is not about helping the Corona crisis, but about covering the debts of democracies that have been in deficit for a long time, even before the epidemic broke out, and now Joe Biden and Democrats are taking the opportunity to help their fellow Democrats, governors and taxpayers. “The current proposal not only spends far more than is required, but the money is also routed to the wrong places,” said Maya McGuinness, president of the Center for Budgetary Responsibility.
Facebook has surrendered to Australia
Meanwhile, the Nasdaq fell last Thursday night to its lowest level since October, slightly improving its price at the end of the trading day on Friday, with a rise of 0.56% – with 10 minutes before the close of trading still trading down 1%. 1.5% and the S&P by half. Facebook rose 1.15% after succumbing to Australia’s demands that technology giants be required to pay publishers of news content for their use of their content. Facebook tried to fight the law and blocked access to all Australian news sites ( Facebook is responsible for almost 100% of the network traffic in the country) – but eventually surrendered and removed the block.
Amazon shares also rose at a similar rate (1.17%) while also being at the center of a censorship storm again. This is because she prevented the sale of books she defines as “unworthy” – such as the book “When Harry Met Sally”. According to conservatives in the US, Amazon seeks to censor non-“progressive” content on a political basis – which could have dramatic consequences, as Amazon is responsible for about 83% of US book sales.