PRESS RELEASE: NEW DIGITAL ADS: HUGGING, BROUGHT TO YOU BY THE AMERICAN RESCUE PLAN 

FOR IMMEDIATE RELEASE
April 29, 2021

Contact: 
Maddy McDaniel, Communications Director

[email protected]

NEW DIGITAL ADS: HUGGING, BROUGHT TO YOU BY THE AMERICAN RESCUE PLAN 

[Invest in America]

Economy Headed For Best Year Since 1984, Thanks to Public Investment Passed in the Biden Administration’s First 100 Days

Weekly Unemployment Claims Lowest Since Pandemic

Goldman Sachs Forecasts “Stunning” 8% Economic Growth

ADP Chief Economist: “It’s really the stimulus that’s made the difference in the economic recovery.”

WASHINGTON, D.C. — Today, Invest in America launched a series of digital ads, “Brought To You By,” highlighting the direct, tangible impact that the American Rescue Plan is having on the lives of Americans across the country.

Thanks to the American Rescue Plan’s $1,400 direct checks, funding for Covid vaccine distribution and testing, state and local government aid to keep essential workers on the job, and support for small businesses, Americans are feeling the benefits of public investment as they return to their lives after a devastating year. The ads will run on Youtube. View the digital ads here

“Thanks to the American Rescue Plan that put money directly into the pockets of Americans and turbocharged Covid vaccination efforts, Americans are once again beginning to to enjoy things that have been missing from their lives — like hugging loved ones, traveling, and going to sports games and concerts,” said Maddy McDaniel, communications director for Invest in America. “The success of the overwhelmingly popular American Rescue Plan is proof that large-scale public investment works. It’s all the evidence we need to keep going with more large-scale investments like those in the American Jobs Plan and the American Families Plan.”

In the first 100 days of the Biden administration, the American Rescue Plan’s public investments have already set the economy on a path to recovery that experts are calling the “Biden Boom”: 

The Wall Street Journal: Welcome to Joe Biden’s Boom Economy
Welcome to the Biden boom. While the first quarter of 2021 is history, the data are still coming in. “Forecasts” of real economic growth, based on partial data, now run in the 7% to 8% range. More important, there is a good chance the stellar first quarter won’t be a flash in the pan. The Wall Street Journal’s recent poll of economists registered an average forecast of 6.4% growth over the four quarters of 2021.

If that happens, it will mark the fastest four-quarter growth spurt since 1984. The 1983-84 boom, which came after a deep recession, led to Ronald Reagan’s declaration of “morning in America”—and his smashing 1984 electoral victory. Like the Reagan boom and the Clinton boom, the Biden boom won’t be due entirely to the policies of the president. But they are sure helping.
[…]
Enter President Biden, and exit GOP support. In its first major legislative achievement, the Biden administration managed to get the $1.9 trillion American Relief Plan passed last month—with no Republican votes. The plan is giving the economy a big shot in the arm right now.

The Washington Post: As economy spikes, Republicans are still waiting for the ‘Biden depression’ that Trump predicted
Throughout last year’s campaign, President Donald Trump issued a series of increasingly dark predictions about what would happen if Joe Biden were elected.

“If he gets in, you will have a depression the likes of which you’ve never seen. Your 401(k)s will go to hell and it’ll be a very, very sad day for this country,” Trump said in the Oct. 22 candidate debate.

Instead, the rebounding economy is headed for its best year since 1984, according to the International Monetary Fund. The U.S. economy likely expanded in the first quarter at an annual rate of 6 percent and should accelerate in the months ahead, economist Ian Shepherdson of Pantheon Macroeconomics told clients this week. More than 1.3 million jobs have been added since the election.
[…]
But so far, none of the attacks have drawn much support beyond the GOP base. A Gallup poll last month found that 63 percent of Americans backed the Biden plan.

The Washington Post: Biden’s economy shows strength, but recovery is far from complete
The stimulus package, known as the American Rescue Plan, which passed with only Democratic votes in Congress, has triggered a noticeable rise in spending. Economists are raising their forecasts for how robust the economy will be in the coming months.

Before the election, in October, forecasters expected the economy to grow by 3.9 percent in 2021, according to a survey of 50 economists by Wolters Kluwer’s Blue Chip Economic Indicators. By April, the consensus estimate had jumped to 6.3 percent. Many Wall Street economists predict an even faster rate of growth. Goldman Sachs now forecasts a stunning 8 percent, which would be the U.S. economy’s strongest year since 1951.

“It’s really the stimulus that’s made the difference in the economic recovery,” said Nela Richardson, chief economist at payroll processor ADP. “We’re going to celebrate a lot of good economic data,” she added.

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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