Opinion | Joe Biden’s Infrastructure Bill Is a Big Success

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Joe Biden entered the White House at a critical juncture in American history. We had become a country divided into two countries, one well educated and prosperous and the other lagging behind. Economic disparities exacerbated cultural and social divides, resulting in a climate of strong polarization, cultural antagonism, alienation, bitterness, and anger.

As president, Biden’s main tool for bridging this chilly civil war was economic. He advocated for three massive pieces of legislation to build a more fair, just, and cohesive society: the Covid stimulus bill, the infrastructure law, and what became Build Back Better, which invested in human infrastructure.

All of these legislations were created to direct funds to areas of the country that were less schooled, less affluent, or otherwise underserved. According to Adam Hersh, a visiting economist at the Economic Policy Institute, more than 80% of the new employment produced by the infrastructure plan will not require a college diploma.

These massive ideas were audacious attempts. Some believed they were too daring. For example, economist Larry Summers believed the stimulus package was too large. It has the potential to overstimulate the economy and cause inflation.

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Larry is one of the most intellectual persons I’ve ever met, and he inspires me much. I may have agreed with him if I were an economist. But I’m a sociologically inclined journalist. For more than a decade, I’ve been covering a country that was collapsing economically, socially, and morally.

I reasoned that one way to reverse this was to turbocharge the economy and generate white-hot labour markets, which would raise bottom-line wages. If inflation was an unintended consequence, so be it. The sacrifice is worthwhile in order to avoid a national schism.

The $1.9 trillion stimulus plan proposed by Vice President Biden was enacted and has been enormously beneficial. It heated up the economy as a whole. According to the Conference Board, real GDP growth will be about 5% this quarter. The rate of unemployment is decreasing. Retail sales are increasing. Approximately two-thirds of Americans believe their household’s financial status is satisfactory.

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