SINGAPORE - "Now is the time to go big," said US President Joe Biden during a roadshow to tout his administration's first big spending programme, the US$1.9 trillion (S$2.5 trillion) American Rescue Plan, which he signed into law on Thursday (March 11).
With the programme - which comes on top of the US$2.2 trillion package of March last year, another US$900 billion in December and other smaller expenditures - the United States will have splurged more than US$ 5 trillion on Covid-19 relief, equivalent to more than 27 per cent of gross domestic product (GDP), among the largest fiscal outlays in the world.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you