Throughout the Democratic presidential race, Joe Biden has been described as a leading “moderate” within the party. But the truth is that Biden is only moderate when compared with Sen. Bernie Sanders and those candidates who embraced key aspects of a socialist agenda that will cost tens of trillions of dollars.
Biden may not be on the far Left of his party, but he is still very much a liberal. Throughout the campaign, he has unveiled a litany of proposals aimed at building on the legacy of President Barack Obama. They are not cheap.
He has proposed sweeping spending plans to expand Obamacare, pour money into “green” energy, increase infrastructure, subsidize housing, and pump more money into education. Below is a list of some of those big-ticket items, which add up to $6.015 trillion over a decade. That’s more than the federal government is expected to spend on Medicaid over the next decade.
Biden’s major spending proposals
Climate plan: $1.7 trillion
In this watered-down version of the Green New Deal, Biden aims to get to net-zero carbon emissions by 2050 through a series of regulatory steps and new spending.
Infrastructure plan: $1.3 trillion
Joe Biden has proposed a massive package, including repairing existing infrastructure, investing in green energy, electric car subsidies, and high-speed rail. Much of it recycles ideas from Obama’s economic stimulus package.
Biden wants to expand Obamacare significantly by increasing its subsidies and creating a government-run plan that would erode private insurance over time.
Preschool and K-12 plan: $750 billion*
The plan would triple Title I funding for public schools, increase teachers’ salaries, and provide universal pre-K.
*This is based on an estimate by the Committee for a Responsible Federal Budget, which found the education proposal would cost $850 billion. But $100 billion of that included investments in public school buildings already included in the infrastructure plan.
Post high school education plan: $750 billion
This would provide free two-year community college or training, increase student aid, and provide targeted loan forgiveness.
Housing plan: $640 billion
This plan would involve providing housing assistance to subsidize buying or renting homes and provide funding to build more affordable housing.
Combating opioid epidemic: $125 billion
This plan promises a massive federal investment in prevention, treatment, and recovery services.
