Assuming President-elect Biden’s victory will hold water in the courts, it’s worth taking a look at his ‘Build Back Better’ plan since he has touted it as an improvement from President Donald Trump’s plan.
For one, Biden’s economic plan is intimately tied to the COVID-19 pandemic, which has largely depressed the U.S. economy since early 2020. A critical component of his plan is a stimulus package for working families, communities, and small businesses.
The COVID-19 unemployment insurance will be extended and a ‘comeback’ package will be provided to main street businesses. Of course, none of these initiatives have a known price tag, raising questions of affordability.
Next, Biden plans to pump $7 trillion into the U.S. economy in the form of clean energy, infrastructure, education, healthcare, and economic fairness. For deficit hawks said the price tag of $7 trillion is sure to raise eyebrows. As a matter of fact, Trump consistently challenged Biden’s spending plan on the campaign trail, arguing it was wholly unrealistic and overly expensive.
