Business
Could Biden’s rescue package lead the US down a dangerous road? – Sydney Morning Herald
The US is in a tricky financial position. There are fears Joe Biden’s proposed $US1.9 trillion COVID relief plan could tip it over the edge.
The combination of the two packages would amount to about 13 per cent of US GDP, which he said needed to be justified with more than just qualitative arguments. As the debate over stimulus proceeded, it would be important to consider analyses of the proposed levels of stimulus that could be delivered without setting off inflationary pressures.
A key strand in his argument is that, while there was nothing wrong with targeting $US1.9 trillion, or more, a substantial part of the spending should be…
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