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Impeachment and Stimulus Redux

February 23, 2021

Just in case you are getting nostalgic for the past few years, we began 2021 with an impeachment trial and a debate concerning the size and need for a stimulus package. Sound familiar? And because this commentary is focused upon economics and not politics, we are more concerned with the arguments for and against stimulus. On one side of the equation, some are arguing that the economy is going to roar back after we are vaccinated, and not only is stimulus not needed, but we run the risk of an overheating economy.

How-impeachment-affects-interest-rates

A strong economy could raise interest rates and would exacerbate our already humungous deficits as the cost of government borrowing would soar. On the other side of the equation, we can point to ten million jobs which have been lost during the course of the pandemic. And when you figure that we should have created two to three million jobs in the past year, we are actually at a net loss of at least twelve million jobs.

We are definitely experiencing a “K” shaped recovery in which some sectors (real estate and the wealthy) are thriving, while others like travel and dining are hurting. Those from the lagging sectors are struggling and need help. So, who is right? That is where we come back to politics. Last year, the conservative viewpoint had the upper hand. This year the political tides have turned. The question is whether both sides will come together with a package of compromise.

Source: Origination Pro

Amerimutual is your trusted, local mortgage broker in Astoria, Queens NY. Contact us by website or call us for free, friendly advice on a fixed rate mortgage, refi, or cash out refinance home equity line of credit.

718-943-9200

Queens Mortgage Broker

18-33 41st Street, 2nd Floor, Astoria, NY 11105 | NMLS # 148477. 

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Testimonials

Eli N

Benny and Phil were great to work with! they assisted us in every aspect of the process even when it wasn’t their job. They explained every step and guided/advised us on the best course of action. Their fees were more than fair and their integrity was at a level far above ANY lawyer or mortgage broker we have ever dealt with.

Joe D.

Philip Loria made the mortgage process quick and easy, and also found ways to save us money. He was always on top of things, very accessible, and his communication is top notch. I will recommend Philip Loria and Amerimutual Mortgage highly to any of my friends, family or colleagues.

Joe D. Long Island, NY
Ninfa Brusca

Philip and Benny Loria were very knowledgeable and professional. They exceeded all our expectations and were a pleasure to work with. They were both were just genuinely nice guys. They listened to all our concerns and did everything in their power to accommodate our needs and make feel comfortable throughout the whole mortgage process. I recommend Amerimutual Mortgage to anyone who is looking for a mortgage.

Ninfa Brusca Tuckahoe, NY
Lenny P., Occupation: Real Estate Development

Richard, I wanted to thank you for all your help and hard work. I am so glad our refinance was a success. You were very diligent and dedicated to getting me the best rate possible. I truly enjoyed working with you and will recommend your services to all our friends and family.

Lenny P., Rye, New York
Nick Tsatsaronis

Philip Loria, assisted me with my refinance. Thank you so much for all of your time and hard work. You made refinancing my house easy and stress free. I wouldn’t recommend anyone else. I will definitely use Amerimutual Mortgage for any future needs, and recommend them to anyone who needs a mortgage.

Nick Tsatsaronis Flushing, NY
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