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Biden Says Kids Could See Weaker Lifetime Earnings Without Covid Relief
Posted
January 29, 2021
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5,502
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January 29, 2021
5,502
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1:10Now PlayingPresident Joe Biden said that failure to move quickly on his Covid-19 relief plan, enabling the reopening of the nation’s schools, could damage the next generation’s earnings potential.
“You could see an entire cohort of kids with a lower lifetime earnings because they’re deprived of another semester of school,” Biden said ahead of a White House meeting with Treasury Secretary Janet Yellen and the rest of his economic team Friday. “The choice couldn’t be clearer. We have learned from past crises: The risk is not doing too much, the risk is not doing enough.”
Yellen said Biden’s plan “will help millions of people make it to the other side of this pandemic.” The benefits of acting “big” on stimulus now “will far outweigh the cost in the long run,” she said.
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