Biden should stand strong on Build Back Better Act

I am writing in regard to the Build Back Better Act and the debt limit. The consequences of this “tournament” by our elected leaders in Washington, D.C. are potentially more perilous than the steps that led to the economic meltdown in 2008. Back then, the mistaken decision was made to repair rather than to replace the financial system.

The disarray at present is a political problem disguised as an economic problem. Over the past several decades, this problem has spawned deep and inflexible cultural roots. Congress still has room to make up for the neglect to lower-income families that ushered in alienation so entrenched (and rightfully so) that 74 million voted again for Donald Trump last year after four years of his handiwork.

The programs that would address these inequities have now been cut in half. I think that reduction makes it more likely a gutted version of the act will result in falling short of the goal while still adding debt — the worst of both worlds. The time to act is now.

However, President Joe Biden is being pushed around by two in Congress on issues that are against the will of most citizens. He must focus on the fact that, as president, he must handle this.

Renewal of the debt limit in December (or credible threats not to) can provide sufficient leverage to add significantly to the current $1.75 trillion Build Back Better Act if the House progressives hang very tough. This is gutsy, but doable and worth the risk as the fallout (or just the fear) would be way beyond political parties.

There would be plenty of pain and blame to go around from a default on the world’s reserve currency, but the wealthiest 1% (by definition) will lose the most. That group’s self-interest is well documented and they like the financial structure to run exactly the way they paid to have it constructed.

— Steve McClure, Larkspur