Jobs report shows gains, but is it good news for the economy?
Well, I’m glad you raised that issue, because it goes to the core of, where is that money that we invested — that we’re investing from the Rescue Plan actually going?
First, they went out and direct checks to American families. A lot of the reason why there’s more demand and more optimism, frankly, among the American people is because 167 million checks, $1,400 checks, went out to people.
Another place it’s going is to schools. One of the things we saw in this month’s job report, 100,000 new education jobs at the state and local level, in part because we invested in schools and getting schools open, teachers getting back on the job. Schools are open. That gives parents more flexibility.
We’re investing in childcare centers, so that we can create more childcare options for parents as they go back to work. In each of these areas, they’re connected to real, tangible needs that our economy needs. And it’s a plan that was designed to keep this support going, because this wasn’t going to be a straight line. And we’re going to have some bumps in the road.
So we’re very confident that this — these are resources that are doing a lot of good for the economy and will continue to do a lot of good. And, frankly, we have a lot of fiscal space to invest in longer-term economic objectives in a way that actually we can do without reducing — without increasing the deficit.