The rebounding economy may become the biggest obstacle to President Joe Biden’s push to pass $4 trillion in new spending initiatives through Congress.
The Commerce Department announced this week the nation’s economy grew at an annual rate of 6.4% during the first three months of the year, and economists believe economic output is poised to return to the levels seen before the coronavirus pandemic and the subsequent shutdowns threw the nation into a recession.
The good news came a day after Biden’s joint address to Congress that outlined plans to spend $4 trillion on two wide-ranging spending plans that would address infrastructure, climate change, healthcare, education, and child care, among many other provisions.
Biden touted the proposals in the speech after first celebrating his success in signing into law a $2 trillion coronavirus aid package. The additional spending, Biden said, will further help the country climb out of the economic slowdown caused by the pandemic.