At the time of writing this article, newly minted president Joe Biden has announced another stimulus package in the amount of $1.9 Trillion dollars. Trillion with a Capital T! A Trillion dollars (let alone almost 2) is a freaking lot of money. A Trillion dollars is ONE THOUSAND ‘Billion Dollars! In 2020, the United States alone spent Trillions (>$4Trillion) in Covid-19 Spending & Tax Relief. The Spending is getting out of control.
Maybe you don’t live in the US and this won’t affect you? Unfortunately, this is a global phenomenon. Canada is actually worse, as they have spent a higher % of their GDP on stimulus. Now, to clarify, this article isn’t here to debate the merits of stimulus. We are living in strange times, and arguably the stimulus is needed to help people in need. Frankly there isn’t any alternative to stimulus. The fact is its happening and will continue to happen for the foreseeable future. In the US alone, President Biden could stimulate possibly up to $8-9 Trillion in 2021.