Biden: Make America Great Again

A promise of economic nationalism, an expensive infrastructure bill that’s really a make-work program, prejudice against foreigners, denunciations of Wall Street — Joe Biden is running the 2016 Trump campaign against Donald Trump in 2020.

Joe Biden gave a big economic speech in Pennsylvania yesterday, and his economic agenda has three parts: 1) a $400 billion federal-spending spree with some additional “Buy American” rules attached to it; 2) a somewhat-more-modest ($300 billion) raft of subsidies for politically connected industries (electric vehicles, telecoms) that we are going to pretend is a research-and-development program; 3) a very large tax increase (by some estimates, the largest proposed in modern times) to pay for No. 1 and No. 2. You will recognize this as approximately the same bullsh** that Donald Trump was peddling in 2016 and Barack Obama was peddling in 2008 and 2012. It is the same crap that has at various times been peddled by figures such as George Wallace, Ross Perot, and Pat Buchanan, and by relatively minor figures such as Ted Strickland. It is nonsense, but it never goes out of fashion.