The Worst Spending Bill in Decades?

President Joe Biden signs the American Rescue Plan in the Oval Office at the White House in Washington, D.C., March 11, 2021. (Tom Brenner/Reuters)
The American Rescue Plan continues to drive inflation and economic damage.

NRPLUS MEMBER ARTICLE M ore than eight months after its enactment, the $1.9 trillion American Rescue Plan (ARP) continues to reveal itself as the most damaging spending bill enacted in decades. ARP was initially promoted primarily as health-care legislation to finance Covid vaccines and treatments (even though just 1 percent of its cost went towards vaccines and only 5 percent had any direct relation to health care) and secondarily as a relief bill. Instead, the legislation became a large grab bag of giveaways and economic “stimulus” provisions that even left-of-center economists such as Lawrence Summers, Jason Furman, and Mark Zandi warned was too expensive,

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