In this article, we will explore the current situation of the economy of the United States, and Joe Biden’s plan, Build Back Better, as the way to get the economy of the country back on track.
According to the figures given by the United States government, more than 900,000 people have become unemployed since May, and eight million additional Americans have fallen below the poverty line. The IMF estimates a loss of $28 trillion due to the COVID-19 situation.
The mishandling of the pandemic by the government and confusion spread by the president has made the situation even worse than the global financial crisis. With the presidential election just around the corner, the next president must take some crucial steps to take the country out of the current economic crisis.
Dealing with the pandemic first: A first step of Build Back better:
The Build Back Better plan of Joe Biden works on a very simple philosophy of dealing with the major issue first and then moving toward the economy. At this moment, the most important issue in America is the continuous surge of COVID-19.
The Build Back Better plan aims to provide an effective response to COVID-19, ultimately saving thousands of lives and saving the economy of the United States. The plan will be implemented from day one if Joe Biden gets the chance to reach the Oval Office.
Joe Biden believes that this is not the time to build back as before, but the economy needs to get a new infrastructure that will be less vulnerable to the conditions that we are facing today. Joe Biden plans to mobilize Americans and use as many hands as possible to fight with the biggest challenge in the history of the United States.
Providing relief packages
The Build Back Better plan will provide immediate relief to the families and communities that have received a severe blow from COVID-19. All the state level, local, and tribal governments will be given relief packages so that no one who needs relief is left behind.
Additionally, the health care and other workers that have risked their lives for the American people and are being ignored by the Trump administration will also get relief. Joe Biden also plans to extend the COVID-19 insurance package to those who have been unemployed due to the disease. Street businesses and entrepreneurs will be provided with comeback packages to kick-start their businesses and boost the economy.
Treating working families as essential
Under the rule of Donald Trump, the rich became richer; the policies implemented by Trump were only to facilitate those who were already making millions. Build Back Better is all about treating every American equally and providing more opportunities for the ordinary American.
The current structure of the economy has many weaknesses and inequalities. Biden aims at building a new structure for the future generations of Americans, where everyone will get the fair share for the work they do and an equal opportunity to move ahead.
Advancing racial Equity
After COVID-19, racial inequality is the biggest challenge being faced by the United States. Joe Biden aims at making a new economic structure of the country where every American will get an equal chance irrespective of color, race, or gender.
COVID-19 has unveiled the economic conditions of Black and brown communities and the need to provide them opportunities to not only uplift their living standard but also the economy. Build Back Better is a plan to gather every American under one flag so that the whole of America can work together for the progress of the country.
Conclusion
America is going through the worst phase of its history, and the blame for it goes to some of those who are ruling the country now. COVID-19 came for the whole world, but the United States, the most advanced and powerful country on the planet, is the most affected. The economy is falling to an irrecoverable stage, and if the situation continues to be the same, a time will come when it will be impossible to get the country back on track.
Joe Biden has come up with a Build Back Better plan that will not only recover the economy but will also make it better than the pre-COVID times. Biden knows and accepts the challenges being faced by the country and has the right plan to fight these challenges.
Read more about the policies of Democrats: Kamala Harris policies for growth and prosperity of America.
Eli is a Political Data Scientist with over thirty years of experience in Data Engineering, Analytics, and Digital Marketing. Eli uses his expertise to give the latest information and distinctive analysis on US Political News, US Foreign Affairs, Human Rights, and Racial Justice equipping readers with the inequivalent knowledge.