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Adam Tooze Says Biden’s Spending Plans Are ‘Far Too Small’

Worries about paying the bill risk making the stimulus ineffective.

President Joe Biden speaks during a rally to mark his 100th day in office, on April 29 in Duluth, Ga.

President Joe Biden speaks during a rally to mark his 100th day in office, on April 29 in Duluth, Ga.

Photographer: Evan Vucci/AP

President Joe Biden is pushing for trillions of dollars in spending on infrastructure and a more robust social safety net. The conventional wisdom is that the ambition is big and the price tag is high.

Columbia professor Adam Tooze, the author of a forthcoming book about the Coronavirus crisis is unconvinced, and worries the plan is “far too small.” On the latest episode of the Odd Lots podcast, he argued that when you really look at the scale of the challenges ahead, particularly relating to huge issues like climate change, a few trillion is just not enough.