The newly elected Joe Biden’s cabinet has put forward a $1.9 trillion aid scheme with goals such as the roll-out of coronavirus vaccines, reopening schools, expanding unemployment benefits, and sending cash payments.
But a careful study shows that the current administration’s idea, when combined with $900 billion promised in December last year, would add up to government spending, which is the largest in modern American history.
This move has made supporters of larger stimulus packages rectify the last recession’s mistakes and achieve a better economy.
It would be risky to use the revenue, which will have significant implications like inflation, financial bubbles, and national debt sustainability.
The Affordable Care Act
The president’s order will ensure that the agencies review policies, such as waivers given to states and insurance programmes.
This move also suggested fear of Medicaid in conservative politicians which brought limitations on the requirements imposed by multiple states.
This had excluded poor people from workplace insurance coverage.
Overturning limitations on the use of tax dollars for clinical care for patients on abortion, both in the U.S. and overseas.
Biden administration started a “special enrollment period.” for the interested general public.
Thirty-six states already rely on the federal system where people can buy insurance only for six weeks. This limitation encouraged enrollment of healthy people, thus broadening the spectrum of the enrolled population.
Last year, fourteen states had opened enrollment for insurance in the early stages of the Covid-19 pandemic. President expects many states to do the same and open their exchanges.
The Trump administration had suggested that small and medium industries can band together to offer more joint plans to escape the Affordable Care Act coverage requirements.
The White House is yet to estimate the people that might sign up for coverage during the new enrollment period.
The Affordable Care Act is also subject of a pending court case in the Supreme Court. Republican supporters registered the case.
The case is due for judgement this spring. There have also been predictions by experts that the law will remain in place.