The best stimulus ever? – The New York Times
Debate over costs and effectiveness will determine whether government should spend billions more, as President Biden and many Democrats now want, to fund more permanent government aid programs. Critics, including many Republicans, can cite data showing an apparent decline in benefit per dollar spent as a reason to be cautious. But Arloc Sherman, an economist at the Center for Budget and Policy Priorities, said spending now could save money later. “I wouldn’t say the 2020 stimulus was a less effective stimulus,” he said. “But it could have been more efficient and effective if we had a comprehensive and well-designed security system in the first place. “
HERE’S WHAT HAPPENS
Gavin Newsom wins in a recall vote and will remain governor of California. According to the latest results, around 65% of voters said Newsom should stay in power, beating a Republican campaign that targeted his handling of the pandemic, especially business and school closures. Newsom said he was “humbled and grateful”.
Apple introduces a new line of iPhones, but no major advancements. The iPhone 13 is slightly faster than its predecessor, with a slightly larger screen and a better camera. The price is virtually unchanged, as with the new iPad and Apple Watch. More than 2 million people watched the unveiling on YouTube – Apple shares fell when it became clear that the updates were modest.
A former laboratory assistant to Theranos testifies in the trial of Elizabeth Holmes. Erika Cheung reported problems with lab tests at the company to federal agents in 2015. The whistleblower confirmed her complaints in court, testifying that the aberrant blood test results were suppressed to avoid quality control warnings . “I was uncomfortable processing patient samples,” she said.
A federal judge is temporarily preventing New York from requiring coronavirus vaccines for medical workers. A number of healthcare workers had sued the mandate, claiming it violated their constitutional rights because it had no religious exemptions. In Arizona, the state attorney general has filed a lawsuit to end a national vaccination warrant, while Los Angeles is being sued by six LAPD employees who claim that a vaccine requirement for city workers has created a “hostile working environment”.
Business and Economy
Some of America’s biggest companies are announcing C-suite redesigns. Denis Coleman was named the new CFO of Goldman Sachs, shortly after Bank of America announced changes in its management team. In technology, Microsoft president and senior lawyer Brad Smith will become vice chairman of the board, and Uber CTO Sukumar Rathnam is leaving after just a year in the post, after s’ be bumped into the product manager.