Matt Gaetz on the $1.9 trillion Biden stimulus package

It is a Trojan horse for socialism, it is everything Democrats have wanted wrapped and branded in coronavirus so that people are scared into voting for it...  This is only the beginning.  And we are about to see massive inflation in this country as a consequence of no real pressure against the printing of money.

~ Matt Gaetz, Florida Representative, March 9, 2021

Bernie Sanders on the American Rescue Plan

As Chairman of the Senate Budget Committee, I am proud that we passed the American Rescue Plan, which, in my view, is the most significant piece of legislation to benefit working families in the modern history of this country.  This package, among many other things, increases direct payments by $1400, extends unemployment benefits, reduces child poverty by half, ensures we are vaccinating as many people as possible, and puts us on a path to safely reopen schools.

~ Bernie Sanders, Vermont senator, March 6, 2021

Jen Psaki on the $1.9 trillion Biden stimulus package

I will note that the plan that the Senate passed this weekend puts us one huge step closer to passing one of the most consequential and most progressive pieces of legislation in American history.

~ Jen Psaki, White House press secretary, March 8, 2021

Philip Grant on how Wall Street thinks the $1.9 stimulus bill is bullish for the economy and stocks

Owing to last week’s $1.9 trillion stimulus bill, economists at Goldman Sachs now pencil in a heady 8% year-over-year growth in fourth quarter GDP.  That would be the highest rate since 1951, when nominal annual output footed to about $350 billion, compared to about $21 trillion last year. 

Then, too, already-buoyant asset markets can expect another jolt, as suddenly flush retail hordes prepare to deploy their $1,400 check.  According to a late February survey from Deutsche Bank, respondents reported that they plan to allocate 37% of their stimulus payout into the market.  “Retail sentiment remains positive across the board, regardless of age, income or when the investor began trading,” wrote Deutsche Bank strategist Parag Thatte.  “Retail investors say they expect to maintain or add to their stock holdings even as the economy re-opens.”

~ Philip Grant, Almost Daily Grant's, March 15, 2021