Biden’s $1.9 trillion gamble
Less than a week away from his inauguration, President-elect Joe Biden has announced his proposed roadmap to navigate COVID-19: a $1.9 trillion stimulus package to provide direct support to families, roll out a mass-inoculation program and send hundreds of billions of dollars the way of businesses and local governments. It is being framed as an extension of last month’s package, which after months of gridlock and political infighting was finally passed by Congress. This near $2 trillion more in spending, we are told, will ‘finish the job’. If it passes, every eligible American will receive an additional $1,400 direct payment, boosting December’s commitment of $600 to $2,000 in total.