In fast moving times, trillion dollar valued firms are springing up in the US stock market. Similarly the trade deficit figures in US markets also have reached trillions. Keeping in this faith, the US Congress, supported majority by the Democrats, passed the 1 Trillion Infrastructure bill in the night of 5th November, 2021. It seems at this pace, soon this 12 zeroes followed by 1 will be replaced by 15 zeroes – ‘Quadrillion’
The infrastructure package is a historic investment by any measure, one that Biden compares in its breadth to the building of the interstate highway system in the last century or the transcontinental railroad the century before. It also proposes to ease supply chain disruptions that are raising prices on consumer goods. This long term stimulus bill promises to create legions of jobs and improve broadband, water supplies and other public works.
As per sources, the bill will increase the Democrats falling rankings in US amongst the general public.
NPowersU Expert Opinion
Effect of passage of this Infrastructure bill on the debt in the coming years will need to be seen as the same is a long term bill. Simultaneously, Democrats are also working on social and environment package whose original cost was to the tune of USD 3.50 Trillions, which now is expected to be half of this amount.
Keeping in mind current total debt and state of US economy, we are sure that Democrats have done their homework on the long term effects rather than hurrying up on these reforms.
Satirically we can say that in order to prove the power of blue, hope Democrats do not become ‘once in a blue moon’ phenomenon in the US.
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