Biden is no longer afraid to spend big on economic relief. Here's what's changed since 2009

[DonViejo]

By Tami Luhby, CNN

Updated 7:00 AM ET, Mon January 25, 2021

(CNN) - Even before he took office, President Joe Biden made clear he will not hesitate to spend big to fight the coronavirus pandemic and get the economy back on track.

Biden can't afford to repeat the mistakes made 12 years ago, when he headed the recovery effort amid the financial crisis. The Obama administration checked its proposals to combat the worst economic downturn since the Great Depression only to face criticism that the response was too small, leading to a painfully slow recovery.

The political and economic realities have changed a lot since 2009, which is allowing Biden to trade restraint for ambition.

"It's not just that smart fiscal investments, including deficit spending, are more urgent than ever," he said as he unveiled a $1.9 trillion relief package a week before his inauguration. "It's that the return on these investments — in jobs, in racial equity — will prevent long-term economic damage and the benefits will far surpass the costs."

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https://www.cnn.com/2021/01/25/politics/biden-pandemic-relief-economic-stimulus/index.html