The Sound Guy
Pursuit Driver
Now this was interesting to read this morning...
For decades, advocates of freer trade have been saying that the middle class would benefit from an open global economy. But as the U.S. has liberalized trade and welcomed China into the international marketplace, the incomes and wealth of most Americans have grown painfully slowly. (This chart offers a glimpse.) |
We’re now experiencing the political backlash, as Joe Biden’s first detailed economic proposal makes clear. In a speech at a Pennsylvania factory, Biden moved away from the Democratic Party’s recent emphasis on open trade and called for the federal government to spend $700 billion on American-made goods in technology, clean energy and other sectors. He called it an investment “not seen since the Great Depression and World War II.” |
The political angle: “They are essentially trying to steal the Trump program of 2016 and steal that playbook,” Steve Bannon, the former Trump adviser, lamented, as The Washington Post reported. “For some reason, the White House and the campaign have been caught flat-footed.” And The Times reports on Trump’s struggle to define Biden politically. |
