DOUGLAS ELMENDORF
Biden's test: Engineering economic boom in a partisan divide
(AP Photo/Andrew Harnik)BALTIMORE – When Joe Biden entered the White House as vice president, the economy was cratering. Biden returns to the White House as president a dozen years later with the economy battered and shaken by a pandemic. The investment bank Goldman Sachs estimates that growth this year could be 6.6% if part of Biden's stimulus plan passes. That would be the strongest gain since 1984, when a 7.2% increase in the gross domestic product helped carry Republican President Ronald Reagan to a second term in a landslide. For now, the Biden team is hoping to push through its stimulus with Republican support in the Senate.