Democratic leaders are scrambling to conclude negotiations over the reconciliation bill for President Joe Biden’s sweeping Build Back Better plan this week and also put the bipartisan infrastructure bill (BIF) to a House vote this week.
Hyperinflation is inflation in excess of 50% a year, i.e. your money loses half of its value every 12 months. Wheelbarrows or bags of cash. Zimbabwe.That thing. Economists see US inflation maybe going to 5%. Core inflation excludes energy and food, which is where much of the action is at the moment. Core inflation is about 4.5% at the moment.
House and Senate progressives are going to have to withhold their votes. There is practically nothing left of the so-called “Biden agenda.” President Biden never was behind it anyway.
Nonsense. More can get passed after 2022 or 24 if we get bigger margins in the Senate but the American people need to pull their collective heads out of their ass.
[“The pressure’s on, especially given Biden’s upcoming trip to the international climate change summit in Glasgow on November 1. The President has told his fellow Democrats that he wants to have a deal on reconciliation clinched before then.”]
We have some short memories around here. I remember during the Obama Administration, even when they had 60 votes (until Mass decided to elect Scott Brown to replace Ted Kennedy), Mary Landrieu and Joe Lieberman played exactly the roles Manchin and Sinema are playing now. Lieberman was instrumental in eliminating the public option from the ACA (the insurance industry in CT was strongly opposed, see Harry and Louise), and Landrieu was opposed to any provision anywhere that threatened Louisiana’s oil and gas industry.
The “60 vote” threshold is an abomination, even when the shoe is inevitably on the other foot.
I’m going to wait and see what’s in the final bill. If, as the guy on Chris Hayes said the other night, we can accomplish the same results with what was under discussion (as far as climate change) as what they originally wanted then cool.
Negotiations of what gets into the reconciliation bill and what doesn’t make the cut are still ongoing, but here’s where proposals stand so far, as far as we can tell:
Up in the air:
Lowering prescription drug costs by letting Medicare negotiate with drugmakers
Child care program
Tax hikes on corporations and the wealthy
Tax incentives to spur clean energy
Slimmed down from original proposal:
Child tax credit
Universal pre-K
In-home care for seniors and people with disabilities
Housing aid
ACA subsidies
Medicaid gap in GOP-led states that refused ACA expansion
Might get dropped:
Paid family and medical leave for all U.S. workers
Expanding Medicare to cover dental, vision and hearing benefits
Kind of a depressing list. Yet again, the massive chunk of folks in the working middle class that don’t currently have a dependent at home seeing nothing, while pretty much everyone else gets something thrown their way.
Guess working class people don’t have prescription drug cost concerns or dental issues, they can all go fuck themselves according to both parties.
There is only one (1) reason this item is in limbo, and that would be K Street Big Pharma lobbyists. And Manchin’s daughter. And Manchin’s stock portfolio.
Moving backward and giving stuff up is dejecting to watch, but getting nothing after months of Manchinema bullshit would be worse. If Biden can get something done, a beachead established, if you will, perhaps time and more pressure can be exerted to take down the filibuster. That’s gotta go if anything’s ever going to work again.