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- nyt_gift_articles@sopuli.xyz
it is Mr. Biden’s reinvigoration of the government’s role as the nation’s most important investor that may endure as a turning point in the nation’s political and economic history.
Investments, like saplings, do not yield immediate fruit, and Mr. Biden has struggled to generate public enthusiasm for these long-term strategies.
This is the best summary I could come up with:
President Biden has planted a lot of trees during his first three years in office, pushing through Congress bills that direct the investment of billions of dollars into infrastructure, research and subsidies for domestic manufacturing.
It arms Democrats, for the first time in recent decades, with a message that can plausibly compete with “tax cuts,” the two words that define Republican economic policy.
In the opening months of his presidency, he pumped money into the economy on a scale unmatched during any other economic crisis of the postwar era, despite the warnings of some prominent economists that it was too much and would do more harm than good.
Federal aid shielded millions of American families from destitution, hunger and the loss of their homes, and it spurred a recovery that has far outstripped the postpandemic rebounds in other developed democracies.
He has supported labor unions more vocally than any of his predecessors, becoming the first president to walk a picket line, when he joined striking workers outside a Michigan auto plant.
The Biden administration has engineered a historic increase in the value of food stamps; proposed a ban on noncompete agreements, which hold down wages; and forgiven billions of dollars in student loans, among other measures aimed at reducing economic inequalities.
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