Biden’s Big Government Should Be Handled With Care [The New York Times]
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Source: The New York Times
The Biden administration has put forward the biggest, boldest, most expensive expansion of government in atleast a half-centuryYes, I’m all for government leaning in and becoming part of the solution. And yes, the years ofde-prioritizing public investmentThe Biden plan doesn’t just tiptoe around the quagmire of the government picking winners and losers, or what has been termed “industrial policy” — it lurches into it. Hundreds of billions of dollars will be invested by government agencies, whose record of success with direct involvement in the commercial world is, at best, mixed.A recent case in point: the 2009American Reinvestment and Recovery Actas Mr. Biden likes to remind usAmong its failures: Two solar manufacturing plants it helped startshut downPresident Barack Obama heralded in a 2016 visitlaid offstopped2015Congressional Research Service report further notedNone of this should be too surprising. Going all the way back to the creation of the Synthetic Fuels Corporation in 1980
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