The US economy is growing at a scalding pace (8.8%) according to The Atlanta Fed’s GDPNow real-time tracker. That is over twice as high as real GDP growth in prior decades.
True, the uunemployment rate is at 7.4% which was where it was at in 2014, the second year of Obama’s Presidency.
While Congress and the Administration are spending like … politicians (OTHER PEOPLES’ MONEY), there seems to be little justification for running up the national debt to $27 trillion. That is over triple from the peak of the house price bubble of 2005.
Here is the breakdown of Biden’s “corona relief” plan with a hefty allocation going to State and Local governments to bailout their pension plans and cover the costs of government shutdowns (why don’t state and local governments pay for this??)
Stimulypto! The sudden rush of $1.9 trillion (and the other stimulus packages coming our way) will led to inflation.
PS. Please do not call or email me about GMU’s Masters of Finance program. I am not involved with it, nor do I teach in it.