A sign announcing hiring hangs in the window of a restaurant in the Greenwich Village neighborhood of New York on Tuesday. Some city restaurants are starting to hire employees now that they can increase their indoor dining to 75% of capacity starting Thursday.
Washington is in the process of spending more than $6 trillion to rescue an economy that doesn’t need rescuing. A look at U.S. economic data shows just how insane this spending plan is.
The $1.9 trillion American Rescue Plan, passed in March, was marketed primarily as economic stimulus. The Washington Post dubbed it “among the largest economic stimulus packages in U.S. history.”
The White House touts the American Jobs Plan, which it says will cost $2.3 trillion, as necessary to “reimagine and rebuild a new economy.”
The White House says the American Families Plan, with a touted price tag of $1.8 trillion, is needed to “build a stronger economy….”
No one in the White House, or congressional leadership, seems to have noticed that the economy is growing faster than a politician can run to a TV camera.
“This economy isn’t coming back. It is back,” Tom Gimbel, founder and CEO of LaSalle Network, a Chicago-based recruitment firm, told CNBC in April. “I tell you this is the most optimistic job market I’ve ever seen. The only thing that causes it not to be great is COVID.”
Rather than a shortage of jobs, the United States has millions of unfilled openings.
The U.S. Bureau of Labor Statistics reported 7.3 million job openings in February. Openings for February 2020 were 7 million.
Originally Appeared On: https://wacotrib.com/opinion/columnists/andrew-cline-has-anyone-told-washington-the-economy-has-already-recovered/article_8059da48-ae7b-11eb-b057-2793e4f993e2.html