“Joe Biden didn’t wake up one day and realize he’d been wrong for 30 years.
I covered him in the Senate, in the Obama White House, in the Democratic Party’s post-Trump reckoning. Biden was rarely, if ever, the voice calling for transformational change or go-it-alone ambition.
But you’d never know it from his presidency. The standard explanation for all this is the advent of the coronavirus. The country is in crisis, and Biden is rising to meet the moment. But I don’t buy it. That may explain the American Rescue Plan. But the American Jobs Plan, and the forthcoming American Family Plan, go far beyond the virus. Put together, they are a sweeping indictment of the prepandemic status quo as a disaster for both people and the planet — a status quo that in many cases Biden helped build and certainly never seemed eager to upend.
Over the past few months, I’ve been talking to White House staff members, to congressional Democrats, to policy experts and to the Biden administration’s critics to better understand why President Biden is making such a sharp break with Joe Biden. Here are a few of them, though this is by no means a complete list.
The collapse of the Republican Party as a negotiating partner.” . . . “
The piece goes on with a section, We all trust economists less than before.
“. . . The backdrop for this administration is the failures of the past generation of economic advice. Fifteen years of financial crises, yawning inequality and repeated debt panics that never showed up in interest rates have taken the shine off economic expertise. But the core of this story is climate. “Many mainstream economists, even in the 1980s, recognized that the market wouldn’t cover everyone’s needs so you’d need some modest amount of public support to correct for that moderate market failure,” Felicia Wong, the president of the Roosevelt Institute, said. “But they never envisioned the climate crisis. This is not a failure of the market at the margins. This is the market incentivizing destruction.”
Deese, the N.E.C. head, is notable for being a climate wonk who’s now in charge of the nerve center of White House economic policymaking. And the scale of the climate disaster, and the speed at which it must be addressed, simply demands a different role for the government. “If you think across the big systems in our country — the transportation system being one, the power and energy system being another — in order to actually solve climate change, we’re going to have to transform those systems,” he told me.” . . .