February 2, 2021

CONVERT THE STIMULUS TO JUST CHECKS AND MEANS TEST THEM:

Economy Improving Faster Than Expected, Says CBO--What Does That Mean for Biden's Stimulus? (ALEXANDRA HUTZLER, 2/2/21, Newsweek)

The Congressional Budget Office (CBO) upgraded its U.S. economic outlook on Monday, saying that the economy will return to its pre-pandemic size by the middle of this year--even if there is not another federal relief package.

The nonpartisan agency projects economic growth of 4.6 percent in 2021, compared with a 3.5 percent contraction in 2020. Real gross domestic product is expected to grow 3.7 percent in 2021 and average 2.6 percent growth over the next five years.

"CBO currently projects a stronger economy than it did in July 2020, in large part because the downturn was not as severe as expected and because the first stage of the recovery took place sooner and was stronger than expected," the report said.

Posted by at February 2, 2021 4:38 PM

  

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