The Biden $1.9 trillion stimulus package passed and has been tremendously successful. It heated the overall economy. The Conference Board projects that real G.D.P. growth will be about 5 percent this quarter. The unemployment rate is falling. Retail sales are surging. About two-thirds of Americans feel their household’s financial situation is good.

But the best part is that the benefits are flowing to those down the educational and income ladder. In just the first month of payments, the expanded Child Tax Credit piece of the stimulus bill kept three million American children out of poverty. Pay for hourly workers in the leisure and hospitality sector jumped 13 percent in August compared with the previous year. By June, there were more nonfarm job openings than there had been at any time in American history. Workers have tremendous power these days.

The infrastructure bill Biden just signed will boost American productivity for years to come. As Ellen Zentner of Morgan Stanley told The Economist recently, it’s a rule of thumb that an extra $100 billion in annual infrastructure spending could increase growth by roughly a tenth of a percentage point — which is significant in an economy the size of ours. Federal infrastructure spending will be almost as large a share of annual GDP as the average level during Franklin Roosevelt’s New Deal.