Saturday, February 20, 2021

Column: Biden's $1.9-trillion big spend is a big bet on modern economic theory

Many economists now believe the government has been too miserly for decades because of an unfounded fear of inflation.

As Treasury Secretary Janet Yellen said earlier this month, “I have spent many years ... worrying about inflation. ... But we face a huge economic challenge here and tremendous suffering in the country. We have got to address that. That’s the biggest risk.”

If the eye-popping $1.9-trillion stimulus plan indeed passes, the Bidenian largesse could signal a sea change in the government’s approach to spending.


Put away your wallets and get your wheelbarrows ready.

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