Agnostic.com

3 7

LINK Bidenomics, explained

“When the formula stops working, you change the formula.” — Arin Hanson

“The era of ‘big government is over’ is over.” — James Medlock

I know this post has a very Vox-like title, but in fact I’m not going to go through Biden’s new infrastructure plan point by point and tell you what’s in it. if you want that, you can check out the actual Vox explainer, or the always-excellent writeup by the WaPo’s Jeff Stein et al. You can also check out Brad DeLong’s thoughts and David Roberts’ deep dive into the climate aspects. I’m sure there will be more in the days to come, and I’ll have plenty of thoughts on the specific provisions as well.

What I want to do in this post, however, is try to figure out what it all means. By now I think everyone has realized that something is changing in American economic policy. The tenor, pace, and scope of Biden’s economic programs proposals, and the muted nature of the ideological opposition, suggest that we’ve entered a new policy paradigm — much as when FDR took office in 1933 or Ronald Reagan in 1981. Every President comes in with a laundry list of initiatives, but once every few decades a President comes in with a new philosophy for what policy should look like. And that is happening now. The fact that a $1.9 trillion COVID relief bill was passed with relatively little fuss, and was really just the warm-up to an even bigger infrastructure bill, and that other “big” policies like student debt cancellation are being pursued on the side as an afterthought, should make it clear that Biden is blitzing.

But what’s the unifying philosophy here? What is Bidenomics? I have some thoughts. First, we need to talk a bit about why the old paradigm wasn’t working.

HippieChick58 9 Apr 4
Share

Enjoy being online again!

Welcome to the community of good people who base their values on evidence and appreciate civil discourse - the social network you will enjoy.

Create your free account

3 comments

Feel free to reply to any comment by clicking the "Reply" button.

1

I love it. And I wouldn't denigrate it by calling it "Bidenomics".

3

Simplified, it is OUR MONEY, it should be used for for We The People, period. Especially since we have 6 times the armaments of all other nations Combined! Time for Huge Changes!

Until we elect officials that will do as the majority of American citizens want nothing will change. First we have to figure out if the person running for office to represent us is lying. All politicians are not liars but all policians will tell people want they believe the people want to hear.

1

Interesting and good read. What I know about the years since Carter and Reagan is trickle down theory did not work. It has never worked.
What needs to happen is all the GDP has to stop doing to the top 10% of the American population. NONE of the GDP is currently trickling down to the bottom 90% of Americans.
It will be curious to see how that graph will look in a year.
Here is Elizabeth Warren explaining this on Bill Maher over 3 years ago. There is the intro and at about 1 1/2 minute she gets into it. Worth listening to IMHO.

The first time i heard "trickle down" i Knew it was a Crock O' Shit! Nothing since has shown me otherwise!

@AnneWimsey me too

You can include a link to this post in your posts and comments by including the text q:587165
Agnostic does not evaluate or guarantee the accuracy of any content. Read full disclaimer.