In his first three months in office, Biden has proposed more spending than any other President in history in the same term of office. That money has to come from somewhere.
In his proposed ‘infrastructure plan’, roughly a third of which actually has to do with infrastructure, President Biden is proposing permanent monthly checks for each child in a household regardless of income and regardless of the number of children. Biden says that his goal is to get five million children out of poverty. Yet the monthly checks will be going to thirty-nine million households. Why the other thirty-four million if they are not part of what you are trying to achieve?
Shortly after coming to office, President Biden proposed a third “Pandemic Relief Bill”, two months after the last one had passed. The law passed and included more stimulus checks sent out to individual taxpayers along with money for children in the household. The money was not targeted to those who had been impacted by the pandemic, but sent out whether they had lost their jobs, even temporarily, or not.
Biden has also taken a number of other, seemingly non-targeted measures to give away government funds. For example, he raised the income level to get a subsidy for health insurance to $60,000, making it possible for even middle income people to get government assistance.
It seems clear that the money transfers are not for pandemic relief, or those impacted by unemployment. One can’t help but wonder the reason for the consistent, broad brush and imprecise nature of the sending on money. Either Biden has changed from his long, relative moderate career as a Senator to a much more leftist and even socialist President whose goal is massive income redistribution or he and Democrats are planning ahead to the 2022 elections and hoping that giveaways will motivate voters to keep them in power and allow them to retain the thin margins they have in Congress.. Yes, the latter explanation is a bit cynical but the economics behind it all make little sense, unless you are actually looking to redistribute income as one of your primary goals.