varoufakis76_Robert AlexanderGetty Images_dollars Robert Alexander/Getty Images

The Goldilocks Stimulus Myth

Both supporters and critics of US President Joe Biden’s $1.9 trillion stimulus plan assume that there is a dollar amount that is just right. In fact, no such figure exists: every possible stimulus size is simultaneously too little and too big.

ATHENS – US President Joe Biden, facing the great challenge of stimulating his country’s economy for the post-pandemic era, and haunted by then-President Barack Obama’s tepid stimulus in the face of the Great Recession a decade ago, has decided to err on the side of overshooting. He wants to “go big” with a $1.9 trillion spending plan.