Yet another article calling out that the stimulus was overdone and caused high inflation (over and above what might have been expected).

«Exactly how much inflation the law caused is debatable, but one group of economists compared the US experience to that of European countries with less ambitious stimulus programs and attributed about 3 percentage points of inflation to excessive stimulus.

Given that the inflation measure the economists used peaked at 6.6 percent, that implies that without the bill’s pressures, overall price increases could have been reduced, perhaps even halved.

That wouldn’t have just helped avoid a Trump comeback — it possibly would have been better for workers. Inflation was high enough that the median worker saw incredibly weak wage growth, certainly weaker than under Trump or Obama’s second term.

…

I’m not in the best position to judge; I cheered on the American Rescue Plan as it happened, thinking the risks of overheating were smaller than the risks of being too meek. But I was wrong, and it’s worth asking how policymakers like Biden got this wrong too.»

https://www.vox.com/politics/394712/joe-biden-president-legacy-inflation-manchin

Also, I got around to reading the rest of this article, and, woah. Ouch, ouch, ouch.

Harsh condemnation of Biden. I don’t think he’ll go down as one of America’s great presidents, unfortunately.

Definitely better than Trump, but I wish he had just stuck with a single term, from the get-go. I guess any person who wants to be president wants to be president for two terms, so… here we are.