Call him President Trillion: Biden’s eye-watering, wasteful spending

The New York Post:

So far the defining word of the Biden era is “trillion.”

Team Biden almost gives the sense that it is working backward — starting with a big, eye-popping price tag and then figuring out what initiatives can be thrown in to reach the top-line number.

The Joe Biden who portrayed himself as a moderate deal-maker during the presidential campaign is a distant memory, replaced by the Joe Biden who is dazzling progressives with his willingness to “go big” — in other words, spend jaw-dropping amounts of taxpayer cash.

Why? Well, Democrats talked themselves into the proposition that there basically isn’t any such thing as spending too much money. Relatedly, the party consensus is that former President Barack Obama went “too small,” with a stimulus package under a trillion dollars, insufficient to the scale of the 2008 recession.

Besides, spending is what Biden can actually do — he can pass his stimulus and relief bills under the so-called reconciliation rules in the Senate, requiring only 50 votes, rather than the 60 it takes to break a filibuster.

Finally, any Democratic president is drawn to the heroic allure of FDR and wants to measure himself against the New Deal.

Biden had a recent meeting with historians in the White House at which FDR was much discussed. One of the participants, historian Michael Beschloss, told Axios that FDR or LBJ may be the most apt analogue to how Biden is “transforming the country in important ways in a short time.”

Any Democratic president would envy the sheer volume of dollars Biden is shoveling out the door: In fiscal year 2019, the federal government, not exactly tightening it belt, spent $4.4 trillion. Biden is on pace to roughly match that with his first two major legislative initiatives — the $1.9 trillion COVID relief bill and his new $2.3 trillion infrastructure proposal.

Team Biden almost gives the sense that it is working backward — starting with a big, eye-popping price tag and then figuring out what initiatives can be thrown in to reach the top-line number.

More at the New York Post

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