{"id":611099,"date":"2021-08-04T13:51:24","date_gmt":"2021-08-04T17:51:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=611099"},"modified":"2021-08-04T13:51:29","modified_gmt":"2021-08-04T17:51:29","slug":"bold-fiscal-policy-matters-yellen-says-biden-spending-agenda-is-meant-to-cut-inequality","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bold-fiscal-policy-matters-yellen-says-biden-spending-agenda-is-meant-to-cut-inequality\/","title":{"rendered":"\u2018Bold Fiscal Policy Matters\u2019: Yellen Says Biden Spending Agenda Is Meant To Cut \u2018Inequality\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbold-fiscal-policy-matters-yellen-says-biden-spending-agenda-is-meant-to-cut-inequality%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=611099&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/08\/GettyImages-1233943812-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Treasury Secretary Janet Yellen is visiting Atlanta to rally support for the Infrastructure Investment and Jobs Act.<\/span><\/p>\n<p><span>The $1.2 trillion package \u2014 intended as a compromise to President Biden\u2019s <\/span><a href=\"https:\/\/www.dailywire.com\/news\/nonpartisan-economists-say-bidens-infrastructure-plan-will-decrease-economic-growth\"><span>American Jobs Plan<\/span><\/a><span> \u2014 is currently being <\/span><a href=\"https:\/\/www.dailywire.com\/news\/senators-iron-out-infrastructure-disagreements-may-advance-bill-as-soon-as-tonight\"><span>debated<\/span><\/a><span> in the Senate. Supporters \u2014 including President Biden and many centrist lawmakers \u2014 believe that the legislation will advance physical infrastructure programs in an economically efficient manner. Meanwhile, opponents include fiscal conservatives worried about budget implications and progressives who want the bill to include funding for education and healthcare.<\/span><\/p>\n<p><span>In line with the Commander-in-Chief, Yellen <\/span><a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0311\"><span>asserted<\/span><\/a><span> that the pending legislation \u2014 and the administration\u2019s broader spending agenda \u2014 is crucial for American economic growth:<\/span><\/p>\n<blockquote readability=\"17\">\n<p><i><span>Remote work and study aren\u2019t going away after the pandemic. The internet is now a crucial public utility, essential for success in American life, and an economy where fast-food chains are the most accessible providers of that utility is not a healthy economy. The government must step in and invest in this public good \u2014 and others.&nbsp;<\/span><\/i><\/p>\n<p><i><span>That is the motivation behind the bipartisan infrastructure package that\u2019s now moving through Congress, inching closer to the President\u2019s desk. In the same way that ambitious fiscal policy is accelerating our recovery from the pandemic, it can start unwinding some of these destructive trends and spur growth.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Yellen also argued that federal spending is necessary to fight \u201cinequality\u201d in the economy:<\/span><\/p>\n<blockquote readability=\"23\">\n<p><i><span>Economists search for lessons in our history, and the last six months have provided a crucial one. Bold fiscal policy matters. A government that can execute it well matters. Together, they can improve American lives on a mass scale, and shift our economic trajectory in a better direction.<\/span><\/i><\/p>\n<p><i><span>In healthy economies, we see wage growth across the distribution. But over the past several decades, that has not been the case in America. While the highest earners have seen their incomes grow, families at the bottom end of the distribution have seen their pay stagnate. It\u2019s a drag on household finances, and it also depresses our consumer base.&nbsp;<\/span><\/i><\/p>\n<p><i><span>Climate change adds a fresh layer of crisis on top of all this. Left unchecked, it will undermine every aspect of our economy from supply chains to the financial system.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/thanks-to-inflation-american-wages-drop-by-nearly-2\"><span>The Daily Wire<\/span><\/a><span> reported last week, the Biden administration oversaw year-over-year inflation rates balloon from 1.7% to 5.3% in the first half of 2020. Wage growth \u2014 which is rising at a 3.6% year-over-year clip \u2014 is outpaced by increasing price levels, leading to diminishing inflation-adjusted wages in the United States.<\/span><\/p>\n<p><span>As the Biden administration has <\/span><a href=\"https:\/\/www.dailywire.com\/news\/moral-imperative-biden-announces-new-emissions-target-to-tackle-the-climate-crisis\"><span>enacted<\/span><\/a><span> measures that prioritize green energy development in the interest of fighting climate change, gas prices have <\/span><a href=\"https:\/\/www.dailywire.com\/news\/gas-prices-have-increased-40-under-democrat-joe-biden-analysts-issue-warning-about-future-prices&#039;\"><span>risen<\/span><\/a><span> by 40% since the beginning of 2021.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen is visiting Atlanta to rally support for the Infrastructure Investment and Jobs Act.The $1.2 trillion package \u2014 intended as a compromise to President Biden\u2019s American Jobs &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-611099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/611099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=611099"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/611099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=611099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=611099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=611099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}