Republicans Are Rediscovering the Dangers of Budget Deficits

High among the US president Joe Biden’s many priorities is reinvigorating an economy that – judging by the latest employment numbers – appeared to be slowing as 2021 began. Even if Covid-19 abates during the course of the year, and pent-up consumer demand kicks in, the US faces immediate challenges in areas such as education, infrastructure investment, state and local finances, and especially the fight against the pandemic itself.