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Biden stimulus: Why $1.9 trillion is a small price to pay 

Democrats are debating economic theory at the most inappropriate time imaginable. US citizens need help

By James Kwak  

Reuters / Alamy Stock Photo

In the United States, a race is on to vaccinate enough people before more contagious variants of coronavirus send infection rates skyrocketing again. The economy is struggling to recover from its sudden collapse last year. According to Federal Reserve Chair Jerome Powell, the real unemployment rate is close to 10 per cent, with low-wage workers, black people and Latinos suffering the most. A wave of layoffs by state and local governments hit by falling tax revenues is on the horizon. 

President Biden and Democratic congressional leaders are rushing to pass a $1.9 trillion bill to combat the pandemic, provide…

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