The economy is set to boom in 2021, but there are legitimate concerns about how this will all end.
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Since our last column in December, it seems that just about everyone has jumped on board with a very strong outlook for the economy this year. With ramped up vaccine distribution, a sharp reduction in new infections following the holiday surge and another huge U.S. stimulus package just passed, 2021 is likely to produce the strongest economic growth in decades. And for the first time in 15 years, global growth is likely to be led by the U.S. instead of China. China is further along in its recovery and is now pulling back on policy stimulus, while the U.S. is doubling down and is one of the world’s leaders in vaccine distribution.
Democrats gave up on trying to garner bipartisan support for a new U.S. fiscal package, and as a result, its size amounted to $1.9 trillion, at the…