Economics
Economists See Much to Like in Biden Stimulus, Even If Imperfect
- Jobless benefit expansion welcomed, stimulus checks not
- Vaccination acceleration seen as crucial to U.S. economy
Joe Biden announces his $1.9 trillion stimulus plan, in Wilmington, Delaware, on Jan. 14.
Photographer: Matt Slocum/AP Photo
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Economists saw much to like in how President-elect Joe Biden’s $1.9 trillion stimulus plan will attack the pandemic and support the recovery, even if key elements may be inefficient or fail to provide long-lasting relief.
Billions in spending to distribute vaccines and improve testing was seen as a positive, along with expanded jobless benefits. At the same time, widespread direct payments won’t necessarily go just to people who need them the most, and it’s not clear if more ambitious parts of the plan could clear a closely divided Senate.