Biden’s Spending Bill May Not Boost Growth

Wall Street Journal: “As the Democrats who control Washington reshape a multi-trillion-dollar package that would expand the social safety net and boost green energy, a key question hanging over their efforts is what impact it will have on the economy…”

“There is no simple answer to what return Mr. Biden’s overall agenda would yield because it has so many different components and it could take decades to fully gauge their effectiveness. Eight decades on, economists are still divided over Franklin D. Roosevelt’s New Deal.”

“Moreover, not all the intended benefits of the reconciliation bill, such as improving the quality of life for families, narrowing inequality, slowing global warming and expanding healthcare, can be measured with GDP.”