Counterfactuals are always fun. Niall Ferguson has even written a book on them, and he’s surely not the only historian to do so.
In this case, let’s imagine for a moment if Donald Trump had won re-election. About the possibility, Trump had been pretty clear about his post-election plan to sign a massive coronavirus-relief spending bill. Alas, and as we know, Joe Biden occupies the White House. And he signed into law $1.9 trillion in alleged economic “relief” related to the virus. “Relief” is put in quotes because it was anything but. Really, how could government allocation of precious resources boost the economy? By definition the spending was an economic retardant simply because Nancy Pelosi and Mitch McConnell aren’t governed by market discipline when they dole out money.
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