No Full Recovery Until 2045
I tend to agree,only a renewable non-polluting energy source is going to bring back a booming economy.Now a global hot war may come in the meantime to accelerate the time table but if only it does not go nuclear. It's the end of an age and a beginning of another which is froth with Chaos.
But in fact, there is no stimulus from such spending because the U.S. debt-to-GDP ratio is now approaching 130%. There is good evidence that debt-to-GDP ratios in excess of 90% produce less growth than the amount of new debt itself.
In other words, there is no stimulus and only an increasing debt-to-GDP ratio that makes the situation worse. It’s just digging a deeper hole. At some point you have to stop digging.
The U.S. was already facing slower growth in the years ahead with or without the Biden administration’s policies because of high debt and a central bank that does not understand monetary economics.
Now that Biden’s policies are fully revealed and becoming law, it is clear that growth will be even worse than would otherwise be expected. If Biden’s trying to destroy the U.S. economy, he’s off to a very good start.