In the US, money is often referred to as greenor the green because paper bills are-wait for it-green! greenbacks The English word cash was first recorded in the late 1500s and comes through the French casse (“case, box”) from the Latin capsa (“case” or “coffer”), which both refer to things you keep money in. (And best of all, it won’t cost you a dime! … Feeling lucky yet?) cash Don’t believe us? We’ll put our money where our mouth is and show you all the words we could find. And while we’re mulling over all this moolah, we’re also thinking about the many words we use to refer to cash. For the moment at least, they are going to try the novel strategy of trying to improve the lives of the American people, and hope they get rewarded at the ballot box.We’ve got our mind on our money and our money on our mind. The reason, apparently, is that Democrats have grasped that it was not cautious or small-c conservative to leave the economy un-fixed a decade ago. Despite some theatrics during the Senate vote, that did not happen this time. In 2009, so-called moderates took a stimulus that was already half the size it needed to be, and lopped off another $100 billion for no reason. That naturally fits in perfectly with the desire to greatly boost the purchasing power of the poor and working class. Instead of conditioning family support on work - the thinking behind the EITC and welfare reform back in 1996 - the state should simply establish an income floor for families, as is done in many European countries with much lower poverty, less social dysfunction, and a greater fraction of the workforce employed. Meanwhile, the boost to child benefits builds on an argument that has been developing for years among liberal and leftist scholars. The "mantra of the White House and the Federal Reserve has been that it's better to err on the side of doing too much than too little," reports the Post in another article. "What happened in 2009 and '10 is, we tried to work with the Republicans, the package ended up being much too small, and the recession lasted for five years … People got sour we lost the election," Senate Majority Leader Chuck Schumer told The Washington Post. Biden's economic team" is betting the transfer payments will "power a rapid increase in economic growth," reports The New York Times, and thereby boost the party's political fortunes. So what gives? Democratic wonks and politicians stress they very much do not want to repeat the mistakes of 2009. It remains to be seen whether Democrats can make these programs (above all the child benefit) permanent, but unlike Obama, Biden will surely be remembered as a president who at least attempted to be transformative. All the various provisions will cut overall poverty by a third, and child poverty in half, according to one estimate. Boosting the EITC for seniors makes no sense Social Security should have been boosted instead.īut all that said, it's a hugely ambitious bill - just by itself putting Biden in league with Lyndon Johnson as a poverty fighter. Excluding an increase in the minimum wage to $15 per hour was bad, and seeing so many Senate Democrats vote against it was worse. The checks walkback was politically stupid. The CTC expansion is structured in a goofy, incoherent fashion and lasts only one year (though that does give Democrats a chance to do it right if they make it permanent, which they are planning to do). Now, I could complain about a lot of this. There is $10 billion for local infrastructure spending, $50 billion in rental assistance, $30.5 billion for transit agencies, $8.5 billion for rural health providers, half a billion in homeless relief, $200 million for Amtrak, a change to include senior citizens in the Earned Income Tax Credit, and many more things. Taxes on the first $10,200 in unemployment benefits during 2020 will be eliminated. There is an $86 billion bailout of 185 union pension plans that were on the verge of going bankrupt. There is a 15 percent boost in food stamps, and $50 billion for low-income rental assistance. There were numerous smaller provisions tucked into the bill that would count as major legislation in any normal time.
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