Tag: politics

Biden Edges Toward Repeating Obama’s Worst Mistake

President Biden is negotiating with congressional Republicans to raise the debt ceiling, and there are reports that progress is being made on a deal that involves “cutting spending.” There has been talk that Biden might try to avoid a deal by minting the coin or invoking the 14th amendment. But Biden has always emphasized that he values consensus and compromise. The conservative Supreme Court might not go along with an attempt to use the 14th amendment, and shoving the coin down his opponents’ throats has never really been Biden’s style. It all reminds me of the debate from a decade ago. This blog was young back then, and I wrote a lot about Obama’s negotiations. Let’s revisit that period, shall we?

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How the War in Ukraine Ends

Russia has moved ahead with annexing the occupied oblasts of Ukraine. This is a point of no return for the Putin regime. It is hard for the regime to maintain its legitimacy when it is trying and failing to invade a foreign country. The regime looks weak and incompetent, and with no real possibility of replacing the leadership through an election, there is no easy to way to restore confidence on short notice. But as difficult as that situation is, it is much harder for the regime to maintain its legitimacy when it is trying and failing to defend the territory the regime acknowledges as part of Russia. A Russian president who cannot successfully invade Ukraine is weak. A Russian president who cannot defend Russia is pathetic. The decision to annex the oblasts therefore sends a clear message–the Putin regime will defend the territory it now holds, or it will die trying.

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The Inflation Reduction Act is Not Designed to Reduce Inflation

As the midterms approach, the Biden administration is looking to pass some part of its Build Back Better plan. Biden managed to fund $550 billion in new traditional infrastructure spending. But the American Society of Civil Engineers argues that we have an infrastructure funding gap of $2.59 trillion. The bipartisan infrastructure bill barely makes a dent in that. The rest of the administration’s proposals have continually run aground. Various senators threaten to withdraw their support all too quickly, and this has caused the administration to water down its proposals over and over again. Now there is a new version of the human infrastructure bill, called the Inflation Reduction Act. This bill claims to raise over $700 billion in new revenue in an effort to fight inflation, reduce the deficit, and fund new investments in energy. It sounds like a significant achievement, but it’s not. Here’s why.

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