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When Joe Biden becomes the 46th president today, he will inherit an economy that continues to struggle under the weight of the COVID pandemic. In response, Biden has announced an ambitious early economic policy agenda to stimulate the economy, raise the national minimum wage, provide aid to state and local governments, and reopen schools. What should people make of these plans? Are they well suited to America’s challenges, or will they incur more consequences than they are worth? On today’s episode, I discuss and evaluate the details of Biden’s plan with Michael Strain.
Michael Strain is the Arthur F. Burns Scholar in Political Economy and director of economic policy studies at AEI. He is also the author of The American Dream Is Not Dead: (But Populism Could Kill It), released in February of last year.