NEW: @JoeBiden calls for setting aside deficit concerns to invest trillions of dollars in the ailing US economy.
@BernieSanders, likely incoming Senate Budget chair: “The president-elect is exactly right that this is not the time for austerity politics.”
Between the House rules change, the Senate flipping and Joe Biden championing deficit spending to invest now, the stars are aligning for Dems to do big things with full control of DC.
They’ll have VERY little room for error.
It flew under the radar but House Democrats made a very consequential change re: PAYGO rules, effectively exempting legislation pertaining to the pandemic or climate change from needing to be deficit-neutral.
Democrats will be limited by slim majorities. Bernie Sanders, who said he intends to be Senate budget chairman, is pushing colleagues to “act with a boldness that we have not seen in this country since FDR” or suffer a repeat of the 2010 midterm election.
.@BernieSanders has big plans to use the filibuster-proof budget process to advance an progressive agenda, and quickly. He told me what he has in mind.
As Washington reels from the chaos of a Trump-spurred riot, top Democrats are plotting an aggressive economic agenda after capturing both chambers of Congress. They sound less inclined to acquiesce to conservative demands on red ink than in the Obama era.
@sahilkapur @DebraMessing @JoeBiden @BernieSanders President-elect Biden and Sen. Sanders are correct. Austerity is probably the most evil form of Corrupted Smithian (aka, "Trickle Down") economics. Rarely is it ever a good time for austerity or Corrupted Smithian economics.