Economic Stimulus and Its Consequences

This chapter critiques President Biden's $1.9 trillion stimulus proposal, contesting the necessity of aggressive fiscal stimulus in preventing economic downturns. It explores the effects of past economic policies, contrasting responses from former Presidents Obama and Trump, and examines the implications of ongoing low interest rates and government debt purchases. Additionally, the chapter discusses the potential job losses associated with raising the minimum wage and how rising labor costs may drive businesses towards automation.