"The costs of dropping out of the labor force in order to care for your kids are very, very high for parents," Obama economist Betsey Stevenson told Insider.

From 1943 to 1973, the typical American family would double its income every 23 years, not a century. Both the House and Biden are studying the issue.

Jason Furman, who advised President Barack Obama, told Insider he favors extending unemployment aid for gig workers and the unemployed past September.

The economy was on track to recover all its lost payrolls by June 2022 last month, but at the current pace, it's now set to recover by next February.

The inflation debate continues to intensify as Biden proposes additional infrastructure spending after signing a $1.9 trillion stimulus bill into law.

In a paper, Jason Furman said the transition of unemployed people into work in May should have been around 34%, but it's only around 24% instead.

A note from UBS economists suggests that schools shuttering and older people fearing a return to work are main causes for labor tightness.

"It's going to be complicated and messy" for the economy to get back on track after the yearlong pandemic, Jason Furman told Insider.

"Incomes soared as a result of the stimulus payments made under the March relief bill," said one economist about March's record personal income jump.

Bank of America says nominal GDP isn't the best comparison to use for federal debt, citing research from Larry Summers and Jason Furman.

"This is just incredibly different," says Heidi Shierholz, an Obama DOL veteran. Other staffers from the last Democratic administration agree.

"This is just incredibly different," said Obama DOL veteran Heidi Shierholz. "If my 2010 self could see just how different we're handling this."

Jason Furman, a top economist during the Obama administration, had a lot of criticism for how Republicans handled stimulus negotiations. “I think it’s baffling that the White House didn’t have a plan,” he told Business Insider in an exclusive interview. Stimulus negotiations between Republicans and Democrats collapsed after two weeks […]

Unemployment remains high and new jobless claims are still above 1 million almost five months into the coronavirus pandemic. Former top Obama economic advisor Jason Furman says Republicans made a mistake in assuming the economy would recover on its own without further government spending. “They have recessed without having acted […]

A bipartisan group of top economists rolled out a four-part plan to stimulate the economy on Tuesday. Among its provisions is keeping boosted federal payments to unemployment benefits up to $US400 for states with unemployment rates above 15%. Other parts of the plan introduced by the Economic Strategy Group include […]

Mounting fears of the coronavirus’s spread in the US triggered one of the sharpest market sell-offs in recent years. The deep stock losses sparked alarm within the Trump administration and the president is reportedly furious the market tanked over the coronavirus. The colliding assessments from public health officials and the […]

Nine conservative economists wrote a letter of support for the GOP tax plan on Monday, saying it would lead to increased economic growth. Other economists took issue with the letter’s assumptions and growth projections. The letter and blowback are another chapter in the economic arguments over the effects of the […]