Academy of Ideas Economy Forum discussion, 13 April 2021.
Joe Biden became the 46th president of the United States on 20 January 2021. But what does Biden stand for and what will his administration aim to achieve?
Most notably, his first major move was the American Rescue Plan Act, a package of stimulus, welfare and other measures that will cost $1.9 trillion. The act provides for a round of $1,400 stimulus checks for individuals making less than $75,000 a year and for married couples earning under $150,000, plus the extension of federal supplements to state unemployment benefits. There is extra provision for coronavirus measures, including vaccination programmes, improving ventilation in schools and more. There is also a boost to federal subsidies for health insurance.
But what does Biden stand for beyond this? What measures will be taken to move the economy out of its long-term lethargy, particularly in the face of competition from China?
New York-based management consultant; commentator on the US economy and business; former economic forecaster