Karl W. Smith, Columnist

Biden’s Covid Relief Plan Isn’t Overkill

The $1.9 trillion proposal could also help the U.S. recover from the Great Recession.

January 15, 2021 at 1:15 PM UTC

Karl W. Smith is a Bloomberg Opinion columnist. Previously, he was vice president for federal policy at the Tax Foundation and assistant professor of economics at the University of North Carolina.

Trying to make up for lost ground.
Photographer: Alex Wong/Getty Images North America

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The U.S. never fully recovered from the Great Recession. One of the benefits of the $1.9 trillion Covid relief package unveiled last night by President-elect Joe Biden is that — in addition to helping Americans hurt by the pandemic — it could help America accomplish that goal.

At that point, U.S. politics can safely return to arguments about whether tax increases or spending cuts are the best way to reduce the deficit. It may be a tired debate, but if it means U.S. has finally healed from the scars of the Great Recession, it will be welcome.