As far as the economy was concerned, the Biden team showed every sign of being determined not to repeat the mistakes of 2009. They had read the postmortems on the Obama administration. They would go large. They would hold out no hope of cooperation from the Republicans. They would start with the $1.9 trillion American Rescue Plan and follow that with a $2.3 trillion infrastructure program and the American Families Plan, costed out at $1.8 trillion. On top of the $3.6 trillion stimulus delivered in 2020, this level of government spending was unprecedented in peacetime.
