NDT not FDR

The debate within the Democratic party regarding Biden's domestic program AGENDA certainly hurts the party.  One question is who is to blame?  Some of those being accused are Manchin or Sanders, Jayapal or Gottheimer, and certainly Sinema.   

Perhaps the answer is Biden, Pelosi and Schumer.

In early August the Senate passed the American Jobs Plan aka the bipartisan infrastructure bill and the Senate budget resolution crafted by Sanders.   

In retrospect the situation in early August may have mislead the Dems into thinking they could they could pass legislation in line with the budget resolution. Things looked up then, things look much different now.  

At that time Biden had a set of victories; a successful vaccination rollout, passing the popular ARP, passing the popular AJP in the Senate with bipartisan support, a recovering labor market, a growing economy and a record stock market.   Biden, Pelosi and Schumer had visions of an FDR-like administration and decided to "go big" and transform the American Family Plan into the $3.5 trillion Build Back Better Act - which now included immigration reform and a set of infrastructure programs related to climate change that were omitted from the AJP. 

But Biden wasn't elected to be FDR or LBJ.  He was elected to be NDT - Not Donald Trump.

Since August we have had the Afghanistan withdrawal, delta variant, higher inflation, and a nasty intraparty squabble.  Biden's popularity has sunk and the VA and NJ election results were terrible.  

Perhaps Biden, Pelosi and Schumer - all over 70 - thought this was there last chance to make history.  Were these experienced pols all naive?   Whatever the reason, the decision to transform the AFP into the BBB act and, temporally link it to the AJP now looks like a major, unforced error.

While the economy is still strong and the labor market continues to improve the latest inflation figure (>6%) has become an issue. The BBB Act is inflationary.   By additional taxes on the wealthy and on profitable corporations the ACT transfers money from saves to spenders.   In general, this is a good idea.  However, giving that the current inflation stems from demand and the BBB Act increases demand.  

And the BBB Act is still a work-in-progress.   There have been last minute changes to the bill that have not been thoroughly vetted.  The Senate has not agreed to the House version.   Some provisions of the bill will increase wealth and income inequality while other provisions seek to reduce poverty.  Frankly the bill is a mess.   The idea that the bill could be drafted and agreed by the end of Sept. now looks hopelessly naive.