Chapter Eighteen: Biden's build back better proposal and the future of secular stagnation ∗
Yeva Nersisyan
1
, and L. Randall Wray
2
1
Franklin and Marshall College, Lancaster, PA, United States
2
Economics, Levy Economics Institute and Bard College, Annandale-on-Hudson, NY, United States
Abstract
In response to the COVID pandemic, the US federal government responded with approximately $5 trillion of relief spending, and the new administration of President Biden proposed an additional $4 trillion to “build back better.” This included huge investments in physical and human infrastructure that would produce environmentally and socially sustainable growth. This chapter discusses the two spending plans and examines how the administration ...
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