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this post was submitted on 11 Nov 2024
900 points (90.3% liked)
politics
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More directly it essentially printed 900 billion more dollars at a time when spending should decrease. There's forecasted payback eventually, but no significant amount has happened yet, but the money is already gone.
I'd argue that its name was somewhat deceptive (like most congressional acts) but that the money largely went to projects that are beneficial for the country. Also, the next section on Wikipedia talks about how the overall deficit reduction would lower medium-term and long-term inflation. I think in general, when money is allocated to things like this, it takes a long time to payback since the money has to first be disbursed and then the projects completed for the results to actually be felt.
Beneficial on a 20 year timescale, arguing a benefit of future savings is economical fiction.