While socialism may present itself as an ideology with good intentions, the ultimate destination tends to gravitate towards dystopia, rather than utopia.
Unfortunately, the United States is headed towards that direction should Biden receive his was with regards to the proposed multi-trillion dollar government spending programs. While socialists welcome these moves, referring to Biden as the most “progressive” president in nearly a century, various Republican representatives have began raising the alarm about these programs.
Moreover, even some Obama-affiliated Democrats have begun to express discomfort with Biden’s proposed projects. For instance, Steven Rattner, a former White House Economic Advisor for Obama, issued grave warnings about Biden’s spending spree during a recent MSNBC interview on Morning Joe Thursday. Rattner indicated that such massive spending will not result in the promised results, but rather severe, long-term consequences on the economy of the nation.
Rattner noted that the most concerning elements of Biden’s plan include “the size and magnitude” of the proposed plans, particularly as they may elevate inflation, alongside the overall national deficit and debt. At the same time, Rattner also expresses concerns about the effective “execution” of all the plans’ proposed elements and programs, given that the “jobs plan alone … had 76 different initiatives in it,” all of which needed to be individually created and implemented. Worse, when the initiatives fail, it can “set back the cause of progressivism for several more decades.”
Thus, implementing the initiatives will be the “biggest challenge” for Biden, according to Rattner, as Biden will be forced “to deliver … actual results for real Americans” in order to persuade the nation of their value.
In addition, Rattner also pointed out that Biden’s massive spending plans cannot be fueled purely by passing high taxes on the wealthiest Americans.
In the past few days alone, Biden has proposed yet another massive spending plan, entitled the “American Families Plan.” This proposal is in addition to two other large spending programs, including the $1.9T COVID-19 relief package and the $1.8T Green New Deal Program.