The data are in. This week, the Bureau of Economic Analysis reported that the U.S. economy grew at a blistering 6.4% clip in the first quarter of 2021 — that is, January through March, back before any serious amount of money from President Joe Biden’s $1.9 trillion COVID-19 stimulus package had been disbursed.
Assuming that stimulus package has had the desired effect in the second quarter, one might expect that we’re all set now. That’s enough economic stimulation for one decade — perhaps even one lifetime.
But wait — there’s even more good news. The Bureau of Labor Statistics reported a month ago that the national unemployment rate back in March was down to an even 6.0%. This coming Friday, it will likely report an even lower unemployment rate for April. And going forward, the rescission of coronavirus-related restrictions is sure to get things cracking even better than before.
So, that’s the context. Now, here is