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Congress passed three large Covid fiscal spending bills in 2020 and 2021 these have changed our expectations of the size and scope of fiscal policy. For good and bad the effects of those spending bills are very much visible in the economy today as it reaches the debt limit end game.
What seem to be the successes, failures and consequently the main policy lessons of the US COVID fiscal policy response, giving particular attention to its innovative features? How is federal fiscal policy affecting the outlook for the US economy over our forecast period?
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