Janet Yellen has 3 reasons why Biden’s trillions in spending won’t destroy the economy

Janet Yellen has 3 reasons why Biden’s trillions in spending won’t destroy the economy

Last week, the Senate approved the bipartisan infrastructure plan, and Senate Democrats passed their reconciliation bill, full of measures like childcare, eldercare and universal pre-K. Biden's Treasury Secretary Janet Yellen said those investments are just the things Americans need right now. Yellen wrote an for Yahoo Finance on Tuesday explaining why President Joe Biden's economic agenda to boost the middle class and create jobs is not too much spending, contrary to Republican lawmakers' arguments. She noted that 40 years of underinvesting in public goods, such as national paid leave and childcare, have pushed women out of the labor force and increased racial and gender pay gaps, and Biden's economic plans would give Americans the economy they "should — and can — have." "I question whether we can if we remain a country where renting a home eats up the lion's share of your paycheck, and owning one is out of the question; where young people can't gain the skills to compete in the job market because they can't afford the tuition bill; or where Americans must make a choice: have children or have a job," Yellen wrote. Here are three reasons why the trillions in spending Biden has proposed is