Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Biden Pledges to 'Act Fast' on $1.9 Trillion Stimulus Package

Published 02/05/2021, 12:34 PM
Updated 02/05/2021, 12:53 PM
© Reuters

By Yasin Ebrahim

Investing.com - President Joe Biden pledged Friday to "act fast" on getting his $1.9 trillion stimulus through Congress, saying it was "very clear" the economy was in trouble following a weaker-than-expected rebound in the labor market last month.  

"It's very clear our economy is still in trouble," Biden said during televised remarks on Friday. "We added just 6,000 private sector jobs in the economy last month ... at time when 10 million people are out of work," he said, following Friday's jobs report showing just 49,000 jobs were created in January.

This "once in a century virus has decimated the economy ... we're still in the teeth of this pandemic as January was the single deadliest month of the whole pandemic." Biden added: "I'm going to act. I'm going to act fast." 

The president pledged to go it alone if efforts to win over the support of the 10 Republican votes needed in the Senate to pass the bill end up delaying passage of the fiscal package.   

The Senate approved a budget bill early Friday, paving the way for passage of Biden's "American Rescue Plan."

If its a choice "between getting help right now to Americans who are hurting so badly and getting bogged down in a negotiation, or compromising in a bill ... I'm going to help the American people who are hurting now," Biden said. "That's why I'm so grateful to the House and Senate for moving so fast on the American rescue plan."

 

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

 

Latest comments

Coming soon, 200,000 jobs added in a week as UBER, LYFT, Door Dash, and the like will be forced to label drivers as employees and not private contractors. And the truth will be that nothing has changed in regards to unemployment. Why should lazy people work when they can just leach of those of us who do.... REALITY!! 🎯👨‍🎓
Yeah, it's in trouble. -$29,000,000,000,000 ??
Don't forget the lovely tax reform that got shoved down OUR $uc<!N@ throats by the previous administration...
26 trillion debt plus 1.9 trillion plus next week student loan forgiveness another trillion plus money to accept more immigrants another trillion plus green deal money another 3 trillion. They are plenty of jobs people won't work when they get 40 k plus stimulus checks. I went to Walmart for some new tires and the Auto Department was closed because of lack of help. Rating agencies will down grade us this year. We already on negative Outlook before Biden due to Spending . We are so scrwed.
Ppl use money better than Gov't
This is not a once in a century pandemic... it is the first planetary wide case of hysteria though.
it's game of paper money dollar, the root cause of 2008. now this hysteria is a trial and error method.
People who were on welfare prior to pandemic should be excluded. Those incompetents cannot be stimulated and will always be tumors of the society.
yeah this Black 59 year old Black woman hope you're speaking of your white comrads who are also on welfare as well. 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
I don't see anything in that comment about race. my state has a very undiverse population and yes we still have too many people on social services.
For democrats, everything is about race and/or gender.
Biden will crush this economy
Well he's not doing it alone, that's for sure. 😒
Sorry, wrong thread 😅
Oh or not
Great leader
Obama telling dementia joe what to do
6000 jobs added 🤣🤣🤣 1 million new claims a week we're screwed remember the government caused this
China flu caused this
the Government shut us down for a 99% survival rate so the government caused this and it was bad before the flu
Governments used the plandemic to tighten control over their constituents. Ask yourself what happened to the other diseases like the common flu? We have been lied to about this China virus.
Snowmelt below, misinfornation, biases and false assumptions.
yeah he said when voted in he was giving it to everyone, now he trying to backtrack on his promise
go it alone? The legislative passes laws the president executes the law. Could you imagine our leaders if the constitution didn't exist? Power hungry POS
Biden! The Hero!
What about the stimulus reaching the airline industry?? Just asking, have some positions in it. Any news on that part?
we have to stop money printing before it all escalates, but I think it's already too late, they will ****the economy
it's been too late..Thomas Jefferson warned about the federal reserve being private..its no more FEDERAL than FEDERAL express
right 1913 was the end but no politician will talk about it
Joe is on the fast track to hurt small businesses still reeling from the pandemic by raising the minimum wage to $15 and implemented paid time off. Time to say goodbye to all those great New Mexican restaurants here in ABQ.
The economy is bad because you (Biden) are ****thousands of jobs because you are bought and paid for by China, just like 90% of Washington.
One month and Republicans are already blaming Biden for their disaster and mismangement under Trump. Who’s next? Minorities? Oh wait, you already blame them for your personal problems too.
Hmm, interesting, your way of flipping what someone said, especially considering it is TYPED for everyone to see right above your comment. I'm not in to politics-I stay far away as possible. But any normal human being that passed third grade could tell you that the post your commenting on couldn't possibly be referring to any political party whatsoever, as the main point of his post explicitly said "like 90% of Washington"! Man it's people like you, why US Is just becoming more and more divided then ever
 Benjy, actually Feb 20 will be one full month. But they couldn't wait! LOL
the economy is in a black ****but we print like never before, it's a suicide, all this will end badly...
Here we go again high taxes to pay for all these government handouts. Welcome back Obama . I thought we were smarter than this I guess not.
funny how you've cut hundreds of thousands of jobs in the skilled trades industry and only added 6000. No jobs will be created when industry is afraid to gamble on a *****president
Here we go again high taxes to pay for all these government handouts. Welcome back Obama . I thought we were smarter than this I guess not.
Usa will ****up
Only 6k jobs added in the private sector imagine that when the US government pays its citizens 2x typical wages to sit at home.
This will effect the long-term, and weaken the US Dollar.
People think 1.9 trillion is less than 900 million
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.