Michael R. Strain, Columnist

Too Much Biden Stimulus Would Backfire

Aid to states and localities is badly needed to support the economy. But not $2,000 checks for people who never lost income or jobs.

January 14, 2021 at 6:45 PM UTC

By Michael R. Strain

Michael R. Strain is a Bloomberg Opinion columnist. He is director of economic policy studies and Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute. He is the author of “The American Dream Is Not Dead: (But Populism Could Kill It).”

Counterproductive.
Photographer: Jeff Fusco/Getty Images

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There’s surely going to be a lot to like about the big-dollar plans President-elect Joe Biden is preparing to fight the coronavirus and support the economy. His first big legislative push offers him the chance to build a reputation as a president who can make deals, bringing Republicans and Democrats together.

But if Biden overreaches when he releases the details Thursday night, he risks creating gridlock that deprives the economy of needed aid. And indications are that his plan may go further than is prudent.