Expert Warns Against Biden's Multi-Trillion Stimulus Package

By Bo Beard | May 18, 2024

Credit card debt

In a recent analysis, Financial Advisor John Williams delved into the possible effects of a proposed multi-trillion dollar stimulus plan on the US economy. The American Rescue Plan Act under Joe Biden spent $1.9 trillion. 

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Williams initially highlighted the alarming trend of Americans accumulating record levels of credit card debt, surpassing a trillion dollars. Althought Biden's intent is to "speed up the country's economic recovery," this may not actually occur. In fact, economic conditions could even worsen as a result of overspending.

Economic terrain

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Nevertheless, against this backdrop, he pointed out a notable shift in the economic terrain, spurred by imminent developments expected to transpire within the next 90 days.