Knock-on effects of Biden's $1.9 Trillion Pandemic Relief?

[squeegee]

@Sam_Stone

And once the money is spent, the interest cost and crowding out of other capital will cause a permanent reduction in economic growth, just as the first stimulus did. Even the authors of the first stimulus agreed that once the stimulus period was over, economic growth would revert to a lower point than if there had been no stimulus.

Which one is the “first stimulus” (there’s been four) and cite please that the authors agreed the bill would hurt economic output?

Also, what’s with you and Modern Monetary Theory? That’s the second time I’ve seen you boogie-man MMT recently, and I’ve not seen the media or politicians or anyone flogging it. I mean, MMT has been around for, what, 1/2 a century, more?