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.

The crown jewel of the Biden plan is investments in clean energy over fossil fuels, which his campaign estimates will create an additional 10 million jobs.  "We’ve seen the need for a more resilient economy for the long-term, and that means investing in a modern, sustainable infrastructure and sustainable engines of growth —  from roads, bridges, to energy grids and schools, to universal broadband," his website states.

One major obstacle the Biden team will have to contend with will be a Republican Senate, which will undoubtedly make it quite difficult for the Democrats to pass their policy proposals. That said, there is also a chance that they will be able to reach a bipartisan consensus with Republicans, although it seems highly unlikely.

In the background, Americans are still eagerly awaiting final electoral results, recounts in key swing states, and possible court cases that may or may not swing victory to the Trump camp. Right, Trump refuses to concede the election and the biggest challenge for his legal team is to present compelling pieces of evidence of voting irregularities that could change the outcome of the election. Let's wait and see what will happen.

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