By Ann Saphir (Reuters) - U.S. President-elect Joe Biden's proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge .
By Ann Saphir (Reuters) - U.S. President-elect Joe Biden's proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge .
5 Min Read
(Reuters) - U.S. President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed to avoid long-term damage from a record-breaking pandemic recession.
Analysts had already begun marking up their forecasts for economic growth this year after last week’s elections in Georgia delivered control of both houses of Congress to Democrats.
Many, though, had penciled in smaller packages, more along the lines of the $892 billion stimulus passed in December.
Spending big on vaccine rollout, testing, and to shore up state and local governments on the frontlines of those efforts could help bring a swifter end to the country’s healthcare crisis, which remains at the root of the economic crisis.