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Analysis: Biden's $1.9 trillion question

February 21, 2021. Summarized by summa-bot.

Compression ratio: 15.6%. 1 min read.

Is President Joe Biden's $1.9 trillion Covid relief package too big? Plenty of economists across the ideological spectrum think so.

(CNN)Is President Joe Biden's $1. 9 trillion Covid relief package too big?

The current package includes $1,400-per-person relief checks -- a residual effect of former President Donald Trump's scorn for Senate Republican Leader Mitch McConnell last December.

The package also includes Democratic spending priorities long predating the pandemic.

But in addition to economics, Biden's plan reflects the convergence of Democratic values with opportunity.

Biden's package responds not just to that short-term disparity, but also to decades of divergence between rich and poor that Democrats have aimed to narrow.

Party leaders say $1. 9 trillion is not too much to hold on to all 50 Democratic senators, as required for passage without Republican help.

Even if the package passes, Summers warns that spending more than necessary on Covid relief may complicate Biden's ability to corral votes for a second legislative priority with a yet-larger price tag.

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