Please help me, this is a policy paper/ Brief assignment. The teacher prompt: the goal of this assignment is to apply economic knowledge and theory acquired in the classroom to everyday scenarios in the real world. The paper must include: Problem statement, how it relates to economic theory/key contributions, Graphs and/ or statistics and conclusion. What I need help is for making sure I have address the teacher requirements for this paper.

Here is the paper: The topic that I choose is Biden Stimulus Package.

Biden's Stimulus Package

The Brookings Institute recently discussed the macroeconomic implication of President Biden's 1.9 trillion dollar package. This package of initiatives, which includes relief measures for households, businesses, and state and local governments, is expected to have a major impact on the US economy. The article argues, that the package's direct spending measures are likely to provide a significant boost to aggregate demand, while the tax cuts and other measures are likely to increase disposable income and support investment. It also notes that the package could help address some of the long-term challenges facing the US economy, such as infrastructure investment, healthcare reform, and addressing inequality. The problem statement is that macroeconomic implications of the impact of the stimulus package on the economy is uncertain, and it will be important to monitor how it affects the macroeconomic environment such as aggregate demand, disposable income, and investment.

First of all, the key contributions of President Biden's 1.9 trillion dollar package are the direct spending measures, tax cuts, and other measures, which are expected to boost aggregate demand, disposable income, and support investment. Beyond that, the package is likely to help address some of the long-term challenges facing the US economy, such as infrastructure investment, health care reform and addressing inequality. However, in addition to analyzing the macroeconomics implications of Biden's 1.9 trillion dollar fiscal package, it would be interesting to also explore the potential political implications of the package, as well as how it could affect the economy in the short term as opposed to the long term. Furthermore, it would be interesting to compare the economic impacts of this stimulus package to those of other stimulus packages implemented in the past.

Second of all, let's discuss how the Biden stimulus package of 1.9 trillion dollars is intended to boost the US economy. The plan is designated to provide relief to those affected by the pandemic. According to the Brooking research, they argued that the stimulus package will provide economic relief to those affected by the pandemic, including $1,400 cash assistance to households, aid to state and local government with $350 billion and extended unemployment benefits to $400 weekly. This data shows that the stimulus package is expected to have a positive macroeconomic effect, as it will inject more money into the economy, reduce poverty, and increase demand. However, there is also concern that the package could cause inflation, decrease the value of the dollar, and increase the federal debt.

Finally, research from Schneider explains that if the Biden stimulus package would not be signed as a bill the poverty rate in April (Peak of the COVID19) would have been 19.4% compared with the percentage estimated to be 13.9%. The poverty rate before COVID was 12-15%.Also, the statistics show that 8 million people benefited because they lived in poverty. In addition, According to Luhby and Lobosco in their article they mention that Biden's also wants to help the people who lost their health insurance with a more affordable health act by doing that he wants to avoid that enrollees don't need to pay 8.5% of their income for health coverage.

To conclude, Joe Biden's proposed $1.9 trillion fiscal package is expected to have a significant impact on the US economy. It is expected to provide relief to individuals and businesses, as well as boost public investment, increase employment benefits and help sustain economic growth. The key contributions of the package are maximized unemployment benefits, direct payment to individuals, additional funding for state and local governments, and many more. The problem statement is that the impact of the stimulus package on the economy is uncertain, and it will be important to monitor how it affects the macroeconomic environment.

Cited works

Luhby, T., & Lobosco, K. (2021, January 15).Here's what's in Biden's $1.9 trillion economic rescue package. CNN.https://edition.cnn.com/2021/01/14/politics/biden-economic-rescue-package-coronavirus-stimulus/index.html

Schneider, T. (n.d.).279 President Biden's stimulus package aims to decrease Americans in poverty. KnightScholar.https://knightscholar.geneseo.edu/great-day-symposium/great-day-2021/posters-2021/1/

Sheiner, W. E. A. L. (2022b, March 9).The macroeconomic implications of Biden's $1.9 trillion fiscal package. Brookings.https://www.brookings.edu/blog/up-front/2021/01/28/the-macroeconomic-implications-of-bidens-1-9-trillion-fiscal-package/