Biden has an audacious plan to rebuild the American middle class through a combination of spending programs and tax increases on the wealthy. The idea is to revive the economy by increasing demand. But what happens if he can’t get his big taxing and spending bills through Congress? What does that mean for 2024?
He’s in better position than you think. While the revolution has failed, investors are happy, and inflation is not an issue. The Covid bill has provided significant benefits to workers which are now under threat from the GOP. The Republican nominee, whoever it is, offers nothing but benefit cuts, lower taxes for business, bathroom bills, and support for the January 6 rioters. That’s a winning hand for the Democrats.