White House moves to reshape role of US capitalism (reestablish government as a primary driver of economy)

The Hill ^ | JONATHAN EASLEY,BRETT SAMUELS AND AMIE PARNES

[RoosterRedux]

The White House is pushing an infrastructure bill that could reshape the discussion around capitalism as it seems to reestablish the federal government as a primary driver of how the economy should grow and function.

In addition to traditional infrastructure projects, Biden’s $2.25 trillion American Jobs Plan would make government investments in broadband, electric vehicles, climate change, elderly care, child benefits, housing and developing future technologies.

It would redefine classic infrastructure projects to include investments in workers and families paid for by tax hikes on corporations.

The ambitious proposal effectively transforms the relationship between the government and the private sector, making radical changes to key sectors of the economy that could be felt for years down the road.

It places a big bet on the ability of the federal government to drive sustained economic growth at a time when confidence in institutions is low.

And it will almost assuredly open Biden up to attacks from Republicans that he’s undermining traditional American capitalism and implementing a socialist agenda — after a heated election where cries of “socialism” were central to former President Trump’s campaign.

“Every corner of the country is going to be touched by this in some way,” said Mark Zandi, chief economist at Moody’s Analytics.

“It takes a whole different perspective on government,” Zandi added. “Ever since Ronald Reagan it’s been about government dysfunction, we need smaller government, less government. ... This is the complete opposite. It’s saying government and only government can solve the problems we have because they’re so large and beyond any one of us. Infrastructure is a collective problem.”

[Bloodandgravy]

Ah, the China model...

[Pagey]

She says “ ......we can show them ‘here’s all the freedom you can have’.... “. Ohhhh okay, thanks you Tyrannical B. Like I don’t have my freedom already given to me by God.