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Biden’s $1.9 trillion American Rescue Plan: Goldman Sachs now expects US GDP growth of 6.6% this year

Biden's $1.9 trillion American Rescue Plan Goldman Sachs now expects US GDP growth of 6.6% this year
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The federal government didn’t function aggressively enough in 2009 to combat the Great Recession, and the economic comeback was vulnerable as a result.

Joe Biden, as former President Obama’s vice president, learned that unbearable lesson firsthand. That’s why Biden is taking a go-big, or go-home approach now that he’s inheriting a fragile economy and the worst pandemic in a century.

Biden’s $1.9 trillion American Rescue Plan shows that he’s decided to prevent rehearsing the Great Recession oversights if Congress lets him.

“If we look back and think this plan was too big, that would be a regret that would be fine to live with,” Jason Furman, one of the architects of the 2009 stimulus plan, told CNN Business.

Furman, a former top economic aide to Obama, thought back that the team needed a $1 trillion stimulus package in 2009 — or approximately 25% bigger than the record-setting legislation that eventually got through Congress.

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Written by Ritik Gupta

His name is Ritik Gupta; currently pursuing law. He has always kept pride as his everything. He deems writing as not like any other hobby but a reflection of one’s intellectuality. He likes to research on the parasitic problems and then lay them down in such a means that can be of assistance to the society. He just not studies law but treats it a controversial weapon to defeat the wrong.

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