Despite underestimating the threat of inflation, President Joe Biden has been reasonably effective in dealing with the problems America is facing, writes columnist Paul Krugman.
President Joe Biden in the White House Rose Garden on July 27.There’s something strange in the D.C. air these days. It smells a bit like … competence.
Furthermore, at this point Biden is arguably benefiting from the soft bigotry of low expectations. His policy achievements are big by modern standards, but they wouldn’t have seemed astounding in an earlier era — the era before the radicalization of the Republican Party made it almost impossible to pursue real solutions to real problems.
These are significant achievements, and a big contrast with the last administration, whose only major domestic policy change was a tax cut that had almost no visible positive effects. True, some of what Biden has done may have effects much bigger than the dollar sums might suggest. There are reasons to hope that the climate law will have a sort of catalytic effect in promoting a transition to clean energy. And some economists believe that boosting the budget of the resource-starved IRS will greatly reduce tax evasion and hence increase revenue.
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