U.S. citizens support President Biden’s spending plans
Economists and investors are discussing the U.S. Covid-19 stimulus plans as the vaccine roll-outs are gaining speed. While some analysts fear that so much stimulus aid may be harmful to the economy in the long run, people seem to be looking forward to more.
U.S. citizens broadly back the big-ticket spending proposals as a variety of recent polls show. According to the latest surveys, more people approve of the $1.9 trillion relief bill than disapprove. Furthermore, Biden’s $2 trillion infrastructure plan is very popular with majorities of respondents. 69% of respondents think that President Biden is doing a good job handling the pandemic.
Biden’s first 100 days as the U.S. president will end on Thursday, and he plans to unveil another massive spending package aimed at addressing family-related issues.
Thus far, the White House has shared only a few details about this plan. Despite that, polls showed that a sizable majority of Americans already support it.
Biden’s multitrillion-dollar spending push is only at its first stages, though. Many Americans received the $1,400 stimulus checks as part of last month’s Covid bill, and people continue getting them. Meanwhile, Key lawmakers are asking for a reduced infrastructure proposal.
Is such large stimulus aid good for the U.S. economy?
Steve Ellis, the president of the nonpartisan budget watchdog Taxpayers for Common Sense, noted that such amorphous spending proposals that promise a lot to citizens often get broader support. However, people see this only as a benefit. They don’t necessarily hear about the problems which often follow.
While the stimulus checks seem good now, they may prove more problematic in long-term reality, causing inflation or increased taxes. That’s why more and more analysts are saying that the government should reduce the aid.
Meanwhile, recent polls show that the president is getting the highest marks for his handling of the coronavirus pandemic. In NBC’s national survey, Biden’s response to the pandemic got 69% approval.
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