"Bidenomics encapsulates something fundamental about the Democratic Party. Since the New Deal, one cornerstone of its approach to governance has been to subsidize and insure corporations and firms engaged in providing housing, health care, high-tech manufacturing, and other activities that might contribute to the common good. Rather than call this industrial policy—with its connotations of smokestacks and state planning—this bundle of strategies is better understood as market-making. In a country as conservative as the United States, it has some political sense. It allows Democrats to shape economic and social outcomes in ways that deflect right-wing accusations of governmental overarch; it tries to align progressive social goals with the interests of capital, which might otherwise lash out or simply flee the country. Perhaps most importantly, from the 1930s to the 1960s it was subsumed within a larger and more robust welfarist agenda that did offer direct benefits like public works employment while also significantly expanding the public social safety net: Social Security, Medicaid, and Medicare were all established in this period.

In subsequent decades, however, as unions declined and public-sector austerity took hold, the political expedience of market-making gradually colonized the entirety of the Democratic imagination. A paradigmatic example of this shift is Obamacare. Rather than deliver a genuinely public option, the Obama administration created a highly complicated system of incentives and subsidies to expand access to private insurance markets—which drove up costs, led to massive windfalls for insurance companies, and ceded ever more control over our lives to health care corporations. Even as it takes root through public policies, Democratic market-making has in fact thinned the relationship between citizens and the state, which has come to depend on the interests and whims of capital to act."

https://www.nybooks.com/online/2025/01/15/bidenomics-farewell-to-an-idea/

#Bidenomics- most bankruptcies in a year since the Great Recession

US corporate bankruptcies hit 14-yr high

https://www.ft.com/content/ac3c1e2f-c9bc-417e-a686-7170e1bf8533

#FAFO The White House Is Wiping Out Millions In Tax Debt Before Trump Takes Office

The IRS is receiving a record number of applications for the Fresh Start Program, which reduces or erases tax debts. Thanks the Inflation Reduction Act (IRA), the IRS has been able to approve more applications than ever before.
Republican officials have proposed tax policies that could significantly change the program – or even kill it altogether.
#bidenomics https://freshstartinformation.org/white-house-wipes-out-millions-in-tax-debt-before-trump-takes-office/