Whatever will happen surrounding Joe Biden’s entry into the presidency—whether he will eventually be removed from office for mental incapacity or whether he will remain as a figurehead president while Kamala Harris or someone else pulls the real strings—one thing about the future is virtually certain.
The federal regulatory and administrative leviathan will grow without restraint.
The Coming Government Boom … And Economic Bust
With Biden in the White House, the Democrats will essentially have a lock on the entire federal government. Predictably, that will mean vast increases in government spending for virtually everything under the sun.
It’s already clear that Beijing Biden will introduce a slew of new mask mandates and COVID lockdown restrictions once he is president. He’s made it unmistakably clear that he will do so regardless of how blatantly irrational, unhelpful, and economically and socially destructive such policies will surely be.
As the economy groans under even heavier restrictions than it must already contend with, economic output will collapse, even more small businesses will go bankrupt, and endless numbers of more people will lose their jobs and/or be forced to stay home. In the wake of this devastation, calls for the government to “do something” will inevitably emerge.
And what will the government do? No, it will not follow the manifestly rational course of easing or eliminating the very government restrictions that caused this problem in the first place. Predictably, a Biden administration will double down on its mistakes and promise to spend more money.
And spend it will. It will spend more money on stimulus checks for individuals, more money on small business loans, and especially more money on gargantuan corporate bailouts that absolutely no one but the corporate and political elite supports. Everyone will, of course, be told that these bailouts are necessary to “save the economy”—even though Chapter 11 bankruptcy is a normal and healthy economic process that, if allowed to work, transfers assets from people who have been incompetent stewards of them to people who will use them better.
People’s protests and concerns over this will be totally ignored.
The result will be a double whammy that will cause the national debt to explode far past its already mind-boggling level. First, it will explode because the government will be spending more. But it will also explode because COVID lockdowns will decrease economic output and therefore decrease tax revenue. Of course, the economy as a whole will crater.
This doesn’t even mention all of the absurd plans of Democrats to spend money on God knows what else—from gender transition education in Pakistan to foreign aid for Sudan—which will only exacerbate all of the above tendencies even more.
The Pen Will Trigger the Regulatory Sword
Don’t think that Biden will bother to pass all of these spending and regulatory increases in the lawful and constitutional way, through a vote in Congress. As his Democratic predecessor once told us all, “I have a pen.” That is, Biden, or his handlers, will just sign whatever they want through executive order and impose it on the population in the style of an Egyptian pharaoh.
It’s going to be a bumpy ride, folks!