Why does every American president promise to bring the economy back? Boom Bust explores
The massive $1.9 trillion stimulus bill has made its way through both houses of Congress and is expected to become law on Friday. Boom Bust talks to Professor Richard Wolff, host of the Economic Update, about the relief bill.
“Right now, it’s having a kind of euphoric effect with these enormous promises that it’s going to solve our problems and bring us our economy back,” Wolff says, adding: “Here’s the irony, this constant message of bringing it back. Back to what? To what it was before Mr. Trump became president? The way it was before – that’s why he became president.”
According to Wolff, “If we can’t do markedly better than getting back to where we were, which is the best we can hope for with this stimulus, if we don’t make basic changes, we’re going to have a repeat. But just like this crisis is worse than the one under Obama, the next one will promise to be yet worse, and we don’t have that much more slack in what we can tolerate as a society.”
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