By Thamonwan @Adobe Stock
UPDATE 12.4.24: The Biden spending frenzy was confirmed recently by undercover reporting via Project Veritas, who filmed an EPA advisor discussing plans to spend as much as possible before Donald Trump is inaugurated. Watch:
BREAKING: @EPA Advisor Admits ‘Insurance Policy’ Against Trump is Funneling Billions to Climate Organizations, “We’re Throwing Gold Bars off the Titanic”
“It was an insurance policy against Trump winning.”
“Get the money out as fast as possible before they [Trump… pic.twitter.com/eaAihuNvAh
— Project Veritas (@Project_Veritas) December 3, 2024
Originally posted November 20, 2024.
An Explosion of Money Going Out the Door
In the WSJ, James Freeman reports on the Joe Biden administration’s frenzied dash to save his administration’s failed agenda. Democrats have spent and borrowed and then, when things weren’t working out, spent and borrowed more.
From Fatima Hussein, Matthew Daly, and Collin Binkley for the Associated Press:
Biden administration officials are working against the clock doling out billions in grants and taking other steps to try to preserve at least some of the outgoing president’s legacy before President-elect Donald Trump takes office in January.
Biden administration officials hope that projects funded under the $1 trillion infrastructure law and $375 billion climate law will endure beyond Biden’s term and are working to ensure that money from the landmark measures continues to flow…
The Energy Department, meanwhile, announced a $544 million loan to a Michigan company to expand manufacturing of high-quality silicon carbide wafers for electric vehicles. The loan is one of 28 deals totaling $37 billion granted under a clean-energy loan program that was revived and expanded under Biden.
“There is a new urgency to get it all done. We’re seeing explosions of money going out the door,” said Melinda Pierce, legislative director of the Sierra Club. Biden and his allies ”really want to finish the job they started.”
Joe Biden’s New Urgency
Surely, thinks Mr. Freeman, the Biden White House has “forgotten that Michigan voters (many of them dissatisfied with the administration’s mania for electric vehicles) voted just two weeks ago against climate-related explosions of taxpayer funds?”
Now Team Biden has a “new urgency” to do what voters don’t want. Apparently, there’s also a new urgency to try to do what the people’s representatives in Congress don’t want and have refused to do.
Significant Changes without Congressional Votes
From AP reporters:
The Education Department has been hurrying to finalize a new federal rule that would cancel student loans for people who face financial hardship. The proposal — one of Biden’s only student loan plans that hasn’t been halted by federal courts — is in a public comment period scheduled to end Dec. 2.
After that, the department would have a narrow window to finalize the rule and begin carrying it out, a process that usually takes months. Like Biden’s other efforts, it would almost certainly face a legal challenge.
Biden’s Regulatory Surge
Federal red tape contributes to inflation by making it more difficult and more costly to produce goods, thus making goods more rare and more expensive. Ryan Young of the Competitive Enterprise Institute writes today on the latest productivity-killing emissions from federal agencies, as measured in pages of federal rules and proposed rules:
The 2024 Federal Register topped 90,000 pages, and is now the second-longest ever, dating back to 1936, with more than a month still to go, reports Mr. Freeman
Some said that President Barack Obama’s regulatory pace could never be equaled. But look at Mr. Biden go!
Wouldn’t it be nice if the people who are still running our government at least pretended to be listening to voters?
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