America's economy is already stalling out, but Biden is trying to buy a second wind
The US economic recovery might have just peaked. The Biden administration has plans to keep the party alive, but it won't be cheap. in the second quarter. It marks a complete recovery from the pandemic-era drop in output, with gross domestic product finally surpassing its end-of-2019 peak.
And new obstacles are emerging. The Delta variant of COVID-19 is causing some cities to reinstate mask mandates, possibly discouraging people from dining out, heading back to their offices and hurting consumer spending. Americans are also staring down a so-called fiscal cliff, with support programs like the student-loan moratorium and enhanced unemployment benefits slated to expire in the fall.
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