Biden Doctrine: Reshaping How We Spend

Battle for Control: Who Holds the Purse Strings in Government?

We were wrong about Biden’s economic doctrine. Our earlier reports criticized President Biden for increasing deficits and expanding government, a common critique he has faced for the past three years. Upon deeper analysis, everyone has been reading it wrong.

In this report, we examined extensive federal, state, and local spending records and consulted with a select group of policy experts. The conclusions are clear:

• Biden’s policies have given the economy time to heal, much like Reagan’s policies did in the early 1980s. Biden’s first term is strikingly similar to Reagan’s, except in one significant respect: under Biden, private spending as a percentage of GDP is now higher than it was under Reagan.

• Even more surprising, the speed at which Biden has established federal primacy while avoiding a discussion about it. This is the most important economic policy story that has not been fully reported, even as many have debated increased deficit spending under Biden.