Bidenflation may not be over. On his way out the door, Joe Biden is planning one last spending spree with your money. In The Wall Street Journal, James Freeman wonders just how much damage Biden can do in two months. He writes:
How much damage can a president do in two months? America may be about to find out as the man considered mentally unfit to be prosecuted or run for re-election embarks on a mad dash to advance a failed agenda.
Fatima Hussein, Matthew Daly and Collin Binkley reported on Friday for the Associated Press:
Biden administration officials are working against the clock doling out billions in grants and taking other steps to try to preserve at least some of the outgoing president’s legacy before President-elect Donald Trump takes office in January.
But voters just said that they don’t want this legacy preserved, especially when it comes to the Biden spending and regulating that did so much to fuel inflation. The AP notes:
Biden administration officials hope that projects funded under the $1 trillion infrastructure law and $375 billion climate law will endure beyond Biden’s term and are working to ensure that money from the landmark measures continues to flow…
The Energy Department, meanwhile, announced a $544 million loan to a Michigan company to expand manufacturing of high-quality silicon carbide wafers for electric vehicles. The loan is one of 28 deals totaling $37 billion granted under a clean-energy loan program that was revived and expanded under Biden.
“There is a new urgency to get it all done. We’re seeing explosions of money going out the door,” said Melinda Pierce, legislative director of the Sierra Club. Biden and his allies ”really want to finish the job they started.”
Has the White House already forgotten that Michigan voters—many of them dissatisfied with the administration’s mania for electric vehicles—voted just two weeks ago against climate-related explosions of taxpayer funds? Now Team Biden has a “new urgency” to do what voters don’t want. Apparently there’s also a new urgency to try to do what the people’s representatives in Congress don’t want and have refused to do.
Just look at the inflation of food and beverages under the Biden administration’s watch. Americans have had enough of inflationary fiscal spending, Federal Reserve policy that fills the economy with dollars it doesn’t need, and regulations that add cost to every facet of life.
Action Line: Despite his smile and friendly manner in his recent meeting with Donald Trump at the White House, watch for trickery and guile as Biden performs his swan song. He and his administration could try to tie down the incoming Trump administration with bad policies they can’t back out of, including a lot of special interest spending for the benefit of friends in the corporate sector. Click here to subscribe to my free monthly Survive & Thrive letter.
