Nothing that more money can’t fix
President Joe Biden presented to a joint session of Congress Wednesday his “Blueprint to Rebuild America.” Biden’s natural optimism came to the fore as he talked about the crises we are emerging from, and the opportunity we have to transform America and the role the government plays.
Optimism is the right word for Biden. He believes there’s nothing wrong with this country that spending a few more trillions of dollars won’t fix.
Biden called for, and got, a $1.9 trillion COVID relief bill in his first days in office. He has proposed another couple of trillion for investment in infrastructure shortly after that. And Wednesday, he called for another $1.8 trillion for spending on children, families and education. He would spend it on universal preschool for the youngsters, free community college for the older kids, and more payments and tax credits for families with children.
You look at Biden’s individual goals, and they are all noble and worthy causes. We agreed that a massive relief bill was needed to get Americans through the impact of COVID-19. We all know roads and bridges in this country are too often crumbling and need repair and replacement, not to mention water systems and electrical grids. And who could argue against giving young children a good head start on the road to success in education.
But nearly $6 trillion in real or proposed spending in his first 100 days is a record we should not exactly be cheering for.
Biden is not alone in his willingness to spend. Democrats and Republicans alike have run up the national debt over the years to over $28 trillion. At some point we have to figure out a way to slow this down.