Biden’s economic plan destroys the “rich people first” mentality of trumpism with a plan that benefits the people of the United States.
Biden’s economic plan is well thought out, researched, comprehensive, and just right for this moment.
Joe Biden unveiled a proposal to spend $700 billion on American products and research, challenging President Trump’s “America First” agenda with a competing brand of economic nationalism and setting the stage for an election-year showdown over the country’s financial future.
what will it do?
The core of the Biden plan is a pledge to “use the full power of the federal government” to “rebuild U.S. domestic manufacturing capacity” and fortify “supply chains” to ensure availability of “critical supplies” in “future crises.”
It envisions $700 billion in new spending to stimulate demand for U.S.-manufactured products and on research into clean energy and digital technologies. The Post summarizes:
He is advocating a $400 billion procurement initiative to spur demand for American products and services, as well as a $300 billion investment in U.S. research and breakthrough technologies. Half of the $300 billion is in clean-energy initiatives that were previously announced, the campaign said.
The plan also calls for the government to launch a 100-day “supply chain review” that could require federal agencies to buy only medical supplies and other goods manufactured in the United States.
What is at the heart of the plan?
Biden is proposing what’s known as “industrial policy.” This employs government intervention to “reindustrialize” the United States in specific sectors to achieve deliberate national goals, such as supply preparedness for pandemics or greater manufacturing capacity to reduce dependence on imperiled global supply chains.
Samuel Hammond, the director of welfare policy at the Niskanen Center, points out that Biden is filling the hole left by Trump’s abandonment of economic populism and his failures in areas where he has lurched in that direction, such as his ill-fated trade wars.
“The Trumpian approach is purely negative: Throw tariffs up and hope manufacturing jobs will miraculously return,” Hammond told me. “Biden’s approach is to level up American workers and make our supply chains more resilient. Trump just wants to turn back the clock on globalization.”
And Biden, once again, showed that he is willing and able and wanting to work with people to put the best plans together
Biden and Warren’s teams consulted closely on the new plan, according to two people with knowledge of the situation, who spoke on the condition of anonymity to describe private talks.
Joe Biden will be a great president.
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This is day 18 in my series 100 Days of Loving Joe Biden
Did you miss any of the 100 days? Here they are:
Day 1: Biden’s Tax Plan
Day 2: Biden and Gay Marriage
Day 3: Biden’s FDR Sized presidency
Day 4: Biden is a mensch
Day 5: Biden has a Covid-19 plan
Day 6: Biden ran the Obama economic recovery
Day 7: Biden’s Housing Plan
Day 8: Biden knows love and commitment
Day 9: Biden knows exactly who Republicans are
Day 10: Biden understands America
Day 11: Biden will be a Trojan horse for Warren/Sanders
Day 12: Biden has felt pain and found empathy
Day 13: Biden and the Violence Against Women Act
Day 14: Biden was endorsed by John Lewis
Day 15: Biden will protect teacher’s unions
Day 16: Biden will be a steady hand in the White House
Day 17: Biden cares about people in the dawn and twilight of life
You can also find the 100 days of loving Biden on Twitter at this link. Follow and retweet! The Twitter feed is new and I could use all the support I can get ❤️