President Biden’s economic philosophy calls for a much larger federal government, with the Biden administration intending to implement an “updated social contract that treats American workers and working families as essential at all times, not just times of crisis.” This intention has manifested itself in Biden’s massive proposed spending programs, including the American Rescue Plan, the American Jobs Plan, the American Families Plan, and a $6 trillion federal budget.
Past Democratic administrations — namely, those of Franklin Delano Roosevelt and Lyndon Johnson — likewise believed that the federal government ought to occupy itself with tackling poverty through massive increases in government spending.
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