Tag: Joe Biden

The march of the coronavirus across America

Mary Pat Campbell

Link: https://www.economist.com/graphic-detail/tracking-coronavirus-across-america

Graphic:

Excerpt:

However, herd immunity will take months to achieve, and the sheer scale of infections in America dictates that covid-19 will not be under control for some time. In order to see where the pandemic is currently most severe across the nation, we have created an interactive map of covid-19 cases and deaths. It divides America into 500 areas. For each of these it shows cases and deaths per 100,000 people, so that infection and death rates in, say, New York City and its surrounds (population 40m) can be compared with those in Ironwood, Michigan (population 27,000).

Publication Date: 23 February 2021

Publication Site: The Economist

The problem with going big on stimulus, as Biden is

Mary Pat Campbell

Link: https://www.startribune.com/the-problem-with-going-big-on-stimulus-as-biden-is/600021428/

Excerpt:

First, wise public sector investments are better for the poor than one-time wealth transfers. The U.S. is still reaping the benefits of the great public health and public works achievements of the 20th century. Second, the most enduring and beneficial government-transfer programs, such as Social Security, have been built on sustainable majorities.

…..

It’s not as if there aren’t obvious candidates for alternative investment: green energy, broadband and public health infrastructure for the next pandemic, to name a few. Yes, I am familiar with the argument that spending the extra trillion or so now will make it possible to spend more trillions later, including on such policies. But whatever kind of complicated political story you might tell, the basic laws of economics have not been repealed. Increasing current expenditures does, in fact, involve foregone future opportunities.

Author(s): Tyler Cowen, Bloomberg Opinion

Publication Date: 10 February 2021

Publication Site: Star Tribune

Biden Says Vaccine Will Be Available To All Americans By The End Of July

Mary Pat Campbell

Link: https://www.forbes.com/sites/andrewsolender/2021/02/16/biden-says-vaccine-will-be-available-to-all-americans-by-the-end-of-july/

Excerpt:

At the start of the town hall, Biden told moderator Anderson Cooper that the U.S. will have “over 600 million doses” of coronavirus vaccine by the end of July, which he said would be “enough to vaccinate every single American.”

Biden emphasized that his deadline refers to vaccine availability, not the number of vaccines administered, a key distinction considering the logistical pitfalls that have hampered some states’ vaccine rollouts.

Author(s): Andrew Solender

Publication Date: 16 February 2021

Publication Site: Forbes

As Pandemic Surged, Contact Tracing Struggled; Biden Looks to Boost It

Mary Pat Campbell
As Pandemic Surged, Contact Tracing Struggled; Biden Looks to Boost It

Excerpt:

Contact tracing, a critical part of efforts to slow the spread of the coronavirus, has fallen behind in recent months as covid-19 cases have soared. President Joe Biden had pledged to change that.

Biden proposes hiring 100,000 people nationwide as part of a new public health jobs corps. They would help with contact tracing and facilitate vaccination. Experts said it’s not clear that would be enough tracers to keep up with another surge in covid cases, even if the vaccination rate increases at the same time.

As with everything covid right now — testing, vaccinations and hospital capacity — ramping up contact tracing has become a race against time as new, more contagious variants of the virus threaten to accelerate transmission of the disease.

Author(s): Yves Smith and Steve Findlay

Publication Date: 11 February 2021

Publication Site: naked capitalism

House Democrats Push Minimum Wage Raise in Covid-19 Relief Bill Despite Senate Concerns

Mary Pat Campbell

Link: https://www.wsj.com/articles/house-democrats-to-craft-covid-19-relief-bill-with-minimum-wage-increase-11613168330?mod=djemwhatsnews

Excerpt:

House Democrats are preparing to stitch together a legislative version of President Biden’s $1.9 trillion coronavirus relief proposal next week, which will include an increase in the minimum wage to $15 an hour despite a second Senate Democrat opposing it this week.

House committees spent the past week shaping portions of the legislation, including the proposal to gradually increase the federal minimum wage to $15 over four years. Early next week, the House Budget Committee is expected to assemble all the pieces into one bill, which House Speaker Nancy Pelosi (D., Calif.) said should pass the full House by the end of the month.

Author(s): Kristina Peterson and Andrew Restuccia

Publication Date: 12 February 2021

Publication Site: Wall Street Journal

Congressional COVID relief package could help Texas bolster pension funds for teachers, state workers

Mary Pat Campbell

Link: https://www.dallasnews.com/news/politics/2021/02/08/congressional-covid-relief-package-could-help-texas-bolster-pension-funds-for-teachers-state-workers/

Excerpt:

 With President Joe Biden and a Democratic-controlled Congress moving ahead on a coronavirus relief package, Texas budget writers are beginning to look at how they might use federal funds for one-time “investments,” such as bolstering pension funds for retired teachers and state workers.

….

That’s only one way state coffers could be altered now that the federal government is led by Democrats. Unlike Republicans who controlled the U.S. Senate during former President Donald Trump’s administration, the Democrats and Biden want to send money to aid state and local governments. Of a $1.9 trillion package, some $350 billion would go to states and localities.

….

“Those investments may be made in our retirement funds or one-time plugs or capital investments,” Kolkhorst said. She referred to lawmakers’ ongoing efforts to make the Teacher Retirement System and the Employees Retirement System more actuarially sound, and to deteriorating buildings used as state offices and at state mental hospital campuses.

Author(s): Robert T. Garrett

Publication Date: 8 February 2021

Publication Site: Dallas Morning News

National COVID-19 Numbers Improve

Mary Pat Campbell

Link: https://www.thinkadvisor.com/2021/01/28/national-covid-19-numbers-improve/

Excerpt:

President Joe Biden’s administration is reorganizing federal pandemic management efforts. The tracking team has left out its usual list of observations and recommendations.

In place of the weekly notes, the team has included a statement indicating that, “The weekly State Profile Reports are currently under review. The format and content may change in coming reports.”

The weekly reports have distilled current knowledge about COVID-19 trends that could shape benefits costs for every life and health product, including annuities, and efforts to ease pandemic-related social distancing rules.

One question is whether the new COVID-19 vaccination program will have any early effect on the pandemic intensity level.

Graph:

Author(s): Allison Bell

Publication Date: 28 January 2021

Publication Site: Think Advisor

Investors ready for change as Democrats take control

Mary Pat Campbell

Link: https://www.pionline.com/washington/investors-ready-change-democrats-take-control

Excerpt:

While the COVID-19 pandemic and its economic impact present the most pressing challenges, Democratic control of Congress and the White House could also spur action on issues ranging from climate change to scrutiny of private equity practices.

…..

Mr. Neal’s first bill introduced in the new 117th Congress addresses the multiemployer pension crisis that he said “has only worsened” in the COVID-19 economic downturn. A similar proposal was introduced by members of the House Education and Labor Committee, whose chairman, Robert C. “Bobby” Scott, D-Va., said the pandemic could cause as many as 180 more multiemployer plans to become insolvent, adding up to 300 plans facing failure. Both leaders are urging that the proposed Emergency Pension Plan Relief Act of 2021 be attached to a COVID-19 relief measure now before Congress.

…..

Potential legislation is expected to build on the panel’s climate action plan calling for clean energy tax credits and jobs initiatives, investments in water infrastructure and research into land and ocean climate solutions, among other ideas.

Author: Hazel Bradford

Publication Date: 25 January 2021

Publication Site: Pensions & Investments

Biden has promised to reform Social Security — some changes could come as soon as this year

Mary Pat Campbell

Link: https://www.cnbc.com/2021/01/23/president-biden-could-make-big-social-security-changes-this-year.html

Excerpt:

KEY POINTS
As President Joe Biden takes office, helping the nation through Covid-19 is a top priority.
Social Security will take a back burner for now, yet some experts say that may not be for long.
If successful, big changes to fix the program could secure his presidential legacy, one expert says.

Author: Lorie Konish

Publication Date: 23 January 2021

Publication Site: CNBC

Joe Biden’s Covid-19 Vaccine Plan: How He Intends to Speed Up Distribution

Mary Pat Campbell

Link: https://www.wsj.com/articles/joe-bidens-covid-19-vaccine-plan-how-he-intends-to-speed-up-distribution-11610794800?st=b86yaopaxch9dgx&twopenpaywall

Excerpt:

President will add community vaccination sites, deploy mobile units and enlist pharmacies to achieve his pledge that 100 million doses will be administered in U.S. during his first 100 days in office

President Joe Biden has promised a more forceful U.S. government response to the coronavirus pandemic, and on his second day in office released a national strategy and signed 10 executive orders and other directives as part of the plan.

Authors: Betsy McKay and Sabrina Siddiqui

Publication Date: 21 January 2021

Publication Site: WSJ