Opinion | Preparing for the Next Phase of the Biden Administration

The Biden administration’s main goal previously was to address the economic gap that exists within America. With the huge amounts of money directed towards creating more jobs and increasing benefits for working families, the administration aimed to narrow the divide between highly educated and less educated people. Although inflation increased, the administration’s efforts resulted in white-hot labor markets that led to the betterment of the nation’s social fabric and prosperity.

Today, the administration’s main goal has shifted towards preparing the nation for a phase of rapid and explosive change. Technological advancements, artificial intelligence, and a technological cold war with China are causing a period of great disruption and uncertainty. The United States will need a quick and flexible government that is able to tackle problems that arise suddenly and provide solutions that will decentralize the global economy and handle war in the Pacific.

During the Trump administration, the national debt rose by roughly $7.8 trillion and, during the Biden administration, it has increased by about $3.7 trillion. The Congressional Budget Office forecasts that the annual federal deficit would average 6.1 percent of G.D.P in the next ten years. However, with the United States projected to spend about $640 billion this year on debt, before it doubles by 2033, the nation should avoid an unnecessary increase in spending.

Therefore, President Biden needs to renegotiate with Republicans to reach a debt reduction deal. The United States requires more flexibility and resources to address the challenges and emerging realities revolving around the nation’s technological transformation and tectonic shifts. Biden should be a source of security during chaotic periods.

Overall, the Biden administration must redefine its presidency to reflect the times ahead. The government should remain fiscally sound and ready for anything. A consumption tax that can be raised or lowered as the coming chaos rages and ebbs would be an excellent option to address the predicaments that lie ahead.