Less than a month after the US Congress passed the US$1.9 trillion (S$2.6 trillion) American Rescue Plan, President Joe Biden has announced a US$2 trillion to US$2.5 trillion infrastructure package, soon to be followed this month by a social spending plan of as yet unknown proportions, but likely to be of the order of another US$1 trillion at least.
So, with upwards of US$5 trillion in spending - more than 20 per cent of gross domestic product (GDP) - being tabled within three months of the start of the Biden presidency, Bidenomics has begun with a bang.
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