Biden’s Sensible Stimulus
America erred in 2009-10 in curtailing the size and duration of the fiscal expansion in the aftermath of the Great Recession. Regardless of who was responsible for that mistake, President Joe Biden is right to make sure it isn’t repeated now.
CAMBRIDGE – The United States and the world entered recession a year ago. Normally, economists can’t predict the onset of a downturn. But because this recession stemmed from the COVID-19 pandemic, they could reliably discern its beginnings without waiting for the standard economic indicators.