Should We Really Be Worried About Too Much Covid Relief?
President Biden’s pandemic recovery plan is drawing criticism from some, but there are simple fixes to most objections, argues Noah Smith in Bloomberg Opinion. Some are worried about the extension of special unemployment benefits, sometimes known as Pandemic UI. But should we really be worried? A well-known paper by economists Damon Jones and SP2’s Ioana Marinescu found that cash payouts from the Alaska Permanent Fund didn’t reduce employment at all.