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Biden loses his big bold plan to reshape America

Biden loses his big bold plan to reshape America

President Biden came to office with the promise to produce the greatest economic and social legislation in American History. He jokingly called his bifurcated Infrastructure and Reconciliation bills the biggest f-ing deal ever – declaring it bigger than President Roosevelt’s New Deal and President Obama’s Affordable Care Act.  He promised to “fundamentally change America.”

On the campaign trail, he was talking about an estimated $10 trillion dollars of new spending.  He got the first $1.9 trillion with the unnecessary and inflation-boosting Stimulus Bill earlier this year.  His $1 trillion Infrastructure Bill has gotten bipartisan support and has only been held up by the progressives in the House until they get the BIG legislation – the $3.5 trillion Reconciliation Bill.  

The remainder of Biden’s $10 trillion pipedream — $3.6 trillion – never got out of the starting gate.  He was never going to get an additional $3.6 trillion.  In fact, he is not even getting the final $3.5 trillion he proposed.  

In the spirit of never making a mistake, Biden says that he always expected to have to pare down the size (expense) of his grandiose vision.  However, he wanted – and expected – to get that $3.5 trillion Reconciliation Bill through Congress.  He did not expect that Senators Joe Manchin and Kyrsten Sinema would hold firm in their objections to the cost of the legislation and what Biden and the progressives considered their must-pass provisions.

If the Reconciliation Bill passes at all, it is likely that the price tag will be closer to Manchin’s $1.5 trillion dollar ceiling than Biden’s $3.5 trillion floor – and miles away from Senator Bernie Sanders $6 trillion demand.

Make no mistake about it.  Even $1.5 or $1.9 trillion is more than is needed on top of the $2.9 trillion passed and about to be passed.  

Biden will claim that ANY amount that gets to his desk as a big win for him.  He has already said as much.  But Biden’s and the progressives’ big plans have already come crashing down.  Think about it.  Biden and the Sanders’ folks wanted a series of packages worth $10 trillion.  At best, they will get 15 percent of their request.  They could get less than half of their $3.5 trillion hard-number request.

In terms of the Biden agenda, America is at a lose/lose position.  Biden has already lost – even as he tries to make table scraps look like Thanksgiving dinner.  But if the Reconciliation Bill passes in the $1.5 trillion to $2 trillion range, the American public also loses – and they will suffer it as the inflation numbers go up.  And as far as Biden’s claim that it is all free … all paid for…, you would be a fool to believe that.  It will impact future deficits and the National Debt.

Democrats claim that they must pass SOMETHING, or they will lose in the 2022 midterm elections.  We are fast approaching a failed presidency – and the passage of this legislation is not what is likely to change that trajectory no matter how much Democrats pat their backs and beat their chests.  

Biden is like a guy who goes to the casino and loses $75 of his $100 betting money – and brags that he is a winner because he comes out of the casino with $25.

So, there ‘tis.

About The Author

Larry Horist

So,there‘tis… The opinions, perspectives and analyses of Larry HoristLarry Horist is a businessman, conservative writer and political strategist with an extensive background in economics and public policy. Clients of his consulting firm have included such conservative icons as Steve Forbes and Milton Friedman. He has served as a consultant to the Nixon White House and travelled the country as a spokesman for President Reagan’s economic reforms. He has testified as an expert witness before numerous legislative bodies, including the U. S. Congress. Horist has lectured and taught courses at numerous colleges and universities, including Harvard, Northwestern, DePaul universities, Hope College and his alma mater, Knox College. He has been a guest on hundreds of public affairs talk shows, and hosted his own program, “Chicago In Sight,” on WIND radio. Horist was a one-time candidate for mayor of Chicago and served as Executive Director of the City Club of Chicago, where he led a successful two-year campaign to save the historic Chicago Theatre from the wrecking ball. An award-winning debater, his insightful and sometimes controversial commentaries appear frequently on the editorial pages of newspapers across the nation. He is praised by readers for his style, substance and sense of humor. According to one reader, Horist is the “new Charles Krauthammer.” He is actively semi-retired in Boca Raton, Florida where he devotes his time to writing. So, there ‘tis is Horist’s signature sign off.

7 Comments

  1. frank stetson

    “And as far as Biden’s claim that it is all free … all paid for…, you would be a fool to believe that. It will impact future deficits and the National Debt.” Heard that one before; maybe you held your nose too hard :>)

    Obama spending 2.2T to 3.3T per year, eight years
    Trump 4.1 – 7.2
    Biden, estimated 6.0 -6.5

    Obama deficits .44 – 1.3
    Trump .78 – 3.7
    Biden, estimated 1.3 – 1.8

    https://www.presidency.ucsb.edu/statistics/data/federal-budget-receipts-and-outlays

    • larry Horist

      Frank …. what does you comment have to do with my commentary. I was writing about the habit of government to overestimate costs and underestimate revenues when they enact a new programs. That is true of Democrats and Republicans … and every presidency. You are beating the drums for a non-related issue. I am very confident that whatever Biden passes, it will NOT be paid for when the actual numbers are available.

  2. Dan Tyree

    Retard joe is a failure. But some morons still think that he knows what he’s doing. Let’s go Brandon!!!

  3. Frank stetson

    Pretty sure Trump will go down as a financial un-tax Ann spend President racking up close to four trillion in deficit in one year and over eight trillion added to the national debt in four years, a record no one has come close to even in WWII.

    I am sure he and his fans will point to covid, which was on his watch, and where his own health official testified to Congress that his administration’s actions cost 130,000 American lives of 30-40% of the total deaths.

    I do not expect history to be kind. So, continue your feckless ad hominem attacks of Joe, and think about how many is 130,000. I’m sure the hate machine is gearing up to call her a liar, but there are so many countries that show us she’s not because they did it. We failed.

  4. larry Horist

    Here is the the definition of the term “ad hominin.” “…this term refers to a rhetorical strategy where the speaker attacks the character, motive, or some other attribute of the person making an argument rather than attacking the substance of the argument itself.”

    MY criticism of Biden is based on his actions — sometimes about his apparent age-related abilities. Those are issues. I do not attack his character gratuitously. I criticize what he does … not what he inherently is. If you want examples of ad hominin attacks, you will find more than enough in reading the commentaries of Bruder and Dan. Not my style.

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