{"id":92641,"date":"2021-02-08T07:37:08","date_gmt":"2021-02-08T12:37:08","guid":{"rendered":"https:\/\/PERSIAN-HERITAGE.COM\/?p=92641"},"modified":"2021-02-08T07:37:08","modified_gmt":"2021-02-08T12:37:08","slug":"auto-draft-488","status":"publish","type":"post","link":"https:\/\/PERSIAN-HERITAGE.COM\/en\/2021\/02\/08\/auto-draft-488\/","title":{"rendered":"US Treasury Chief: Would Take Years for US Economy to Recover Without Aid Deal"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-92642 alignleft\" src=\"https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen-300x200.jpg 300w, https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen-150x100.jpg 150w, https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen.jpg 600w, https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen-24x16.jpg 24w, https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen-36x24.jpg 36w, https:\/\/PERSIAN-HERITAGE.COM\/wp-content\/uploads\/2021\/02\/Janet-Yellen-48x32.jpg 48w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>VOA \u2014 WASHINGTON &#8211; U.S. Treasury Secretary Janet Yellen said Sunday it \u201cwill take years\u201d to get the country\u2019s coronavirus-ravaged economy back on track if Congress fails to enact President Joe Biden\u2019s $1.9 trillion relief package, rejecting Republican claims that it is too big.\u00a0<\/p>\n<p>Yellen told CNN that with passage of the relief deal, the economy could return to what is considered full employment in the world\u2019s biggest economy by 2022, with a 4% jobless rate compared to the 6.3% rate in January.\u00a0<\/p>\n<p>\u201cThere\u2019s tremendous suffering in the country,\u201d she said, with nearly 10 million jobs lost in the coronavirus pandemic and a reported 4 million workers who have given up looking for new work. The government reported Friday that the United States added only 49,000 jobs in January.\u00a0<\/p>\n<article class=\"embedded-entity\" data-embed-button=\"node\" data-entity-embed-display=\"view_mode:node.backgrounder\" data-entity-type=\"node\" data-entity-uuid=\"91a1784d-d824-40ae-ab1f-eade806976ab\" data-langcode=\"en\">\n<div class=\"backgrounder\">\n<div class=\"backgrounder__media\">\n<div>\n<div>\n<div class=\"blazy blazy--field blazy--field-media-image blazy--field-media-image--feed-1 blazy--view blazy--view--taxonomy-term blazy--view--taxonomy-term--feed-1 blazy--on blazy--first\" data-blazy=\"\">\n<div class=\"media media--bundle--image media--blazy media--responsive media--image is-b-loaded\"><img decoding=\"async\" class=\"media__image media__element b-lazy b-responsive b-loaded\" src=\"https:\/\/im-media.voltron.voanews.com\/Drupal\/01live-166\/styles\/221x146\/s3\/2021-02\/AP21036553395363.jpg?itok=r5aps7ci\" srcset=\"https:\/\/im-media.voltron.voanews.com\/Drupal\/01live-166\/styles\/608x401\/s3\/2021-02\/AP21036553395363.jpg?itok=n_04hP7_ 1x\" alt=\"President Joe Biden, accompanied by Vice President Kamala Harris, speaks with House Speaker Nancy Pelosi and House Majority\u2026\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"backgrounder__content\">\n<div class=\"backgrounder__title\">Biden Pushes for Quick Passage of Relief Bill as Jobs Report Shows Weak Growth<\/div>\n<div>President urges Congress to &#8216;do something big&#8217; to spur economy<\/div>\n<\/div>\n<\/div>\n<\/article>\n<p>Both chambers of Congress, each narrowly controlled by Biden\u2019s Democratic Party, voted last week for budget rules that, if necessary, would allow Democrats to push through the new spending on party-line votes in both the Senate and House of Representatives without any support from Republican lawmakers.\u00a0<\/p>\n<p>Biden told reporters Friday, \u201cI\u2019ve told both Republicans and Democrats, that\u2019s my preference, to work together.\u201d\u00a0<\/p>\n<p>\u201cBut if I have to choose between getting help right now to Americans who are hurting so badly and getting bogged down in a lengthy negotiation or compromising on a bill that\u2019s up to the crisis, that\u2019s an easy choice,\u201d the president said. \u201cI\u2019m going to help the American people who are hurting now.\u201d\u00a0<\/p>\n<p>Based on the country\u2019s slow recovery from the Great Recession in 2008 and 2009, Biden said, \u201cOne thing we learned is, you know, we can\u2019t do too much here. We can do too little. We can do too little and sputter.\u201d\u00a0<\/p>\n<p>Top White House advisers are hoping to pass the Biden proposal by the first week of March, ahead of a March 15 deadline when current $300-a-week extra payments from the national government to jobless workers on top of less generous state benefits are set to expire. Biden wants to increase the extra federal payments to $400 a week through September.\u00a0<\/p>\n<p>A group of 10 Republican senators met with Biden at the White House last week, lobbying to keep the payments at $300 a week but ending them in June.\u00a0<\/p>\n<figure role=\"group\">\n<div class=\"embedded-entity\" data-embed-button=\"wysiwug_image\" data-entity-embed-display=\"view_mode:media.large_embedded\" data-entity-type=\"media\" data-entity-uuid=\"a9823652-cdc0-4e57-9641-ccd602793f5c\" data-langcode=\"en\">\n<figure class=\"media media--type-image media--view-mode-\">\n<div><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/im-media.voltron.voanews.com\/Drupal\/01live-166\/styles\/sourced_737px_wide\/s3\/2021-02\/2021-02-01T222336Z_1927902747_RC2YJL944KAH_RTRMADP_3_USA-BIDEN.JPG?itok=9Vzdgiu8\" alt=\"U.S. President Joe Biden and Vice President Kamala Harris meet with a group of Republican Senators to discuss coronavirus\u2026\" width=\"737\" height=\"491\" \/><\/div>\n<\/figure>\n<\/div><figcaption>FILE &#8211; U.S. President Joe Biden and Vice President Kamala Harris meet with a group of Republican Senators to discuss coronavirus federal aid legislation inside the Oval Office at the White House, Feb. 1, 2021.<\/figcaption><\/figure>\n<p>Biden also plans to send $1,400 checks to millions of adult Americans, but Yellen said precise details of what income level the payments would be cut off have yet to be worked out.\u00a0<\/p>\n<p>Republicans opposed to Biden\u2019s relief package are pointing to an opinion article published in The Washington Post last week by former Treasury Secretary Lawrence Summers, a Democrat, suggesting that the size of Biden\u2019s relief deal could \u201cset off inflationary pressures of a kind we have not seen in a generation.\u201d\u00a0<\/p>\n<p>Republican Senator Pat Toomey of Pennsylvania, in a CNN interview, said the U.S. is not facing \u201can economy in collapse.\u201d\u00a0<\/p>\n<p>He said it is too soon to enact another big coronavirus relief measure.\u00a0<\/p>\n<p>\u201cThe ink is hardly dry on the last bill,\u201d Toomey said, referring to a $900 billion package that then-President Donald Trump approved in late December.\u00a0<\/p>\n<p>Toomey said that while Biden has \u201cmade great speeches on (political) unity, he\u2019s governing from the hard left.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VOA \u2014 WASHINGTON &#8211; U.S. Treasury Secretary Janet Yellen said Sunday it \u201cwill take years\u201d to get the country\u2019s coronavirus-ravaged economy back on track if Congress fails to enact President Joe Biden\u2019s $1.9 trillion relief package, rejecting Republican claims that it is too big.\u00a0 Yellen told CNN that with passage of the relief deal, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":92642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[16],"tags":[],"class_list":["post-92641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recposts"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"en","enabled_languages":["fa","en"],"languages":{"fa":{"title":true,"content":false,"excerpt":false},"en":{"title":true,"content":true,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/posts\/92641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/comments?post=92641"}],"version-history":[{"count":2,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/posts\/92641\/revisions"}],"predecessor-version":[{"id":92644,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/posts\/92641\/revisions\/92644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/media\/92642"}],"wp:attachment":[{"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/media?parent=92641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/categories?post=92641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/PERSIAN-HERITAGE.COM\/en\/wp-json\/wp\/v2\/tags?post=92641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}