Biden Boosts Spending Plans: ‘There Are Certain Things Only Government Can Do’

<div id=”js-article__body” itemprop=”articleBody” data-sbid=”WP-MKTW-0000252492″>

On Friday, President Joe Biden made a renewed push for big spending on infrastructure and social programs as he appeared on NBC’s “Today” show and spoke in Philadelphia at an event marking Amtrak’s 50th anniversary. Biden defended his $ 2.3 Trillion American Employment Plan and the $ 1.8 Trillion American Family Plan, when asked in an interview that aired Friday morning on the “Today” show about why he wants to tax and spend. both at this stage of the rebound in the US economy from the COVID-19 crisis.

Now read: Democrats’ Big Enemy in Pushing Biden’s Agenda: The Calendar “That’s the reason it’s rebounding, because we’re investing,” he said. “Look how quickly it recovered since we passed the last legislation, and that legislation was $ 1.9 trillion. If we do not invest in this country, we will fall behind even more ”. See: Consumer spending skyrockets in March after Americans received $ 1,400 stimulus checks. The president also declined when asked about the ability of “big government” to accomplish great things. “I don’t have any excessive faith in government, but there are certain things that only government can do,” Biden said. “For the love of God, we are ranked eighth in the world in terms of infrastructure. Is the private sector going to build billions of dollars worth of roads, ports, airports, bridges? Are they going to do that? So these are things that only the government can really do. ”In his speech in Philadelphia, Biden said Amtrak can be one of the nation’s“ big, big contributors ”if the nation invests in passenger rail service. His American Jobs Plan includes $ 80 billion to support Amtrak and other rail projects. “I think the best days are ahead for Amtrak, for the railroad, and for America. I really do. And I’m sure we can do it.” Biden also spoke about his decades on Amtrak trains between Washington and his home state of Delaware, noting that he threw Christmas and summer parties for the rail service workers and considers them family. “It’s been a part of my life. I’ve been riding Amtrak for almost as long as there has been an Amtrak. ”Biden brought his speech to Georgia Thursday night for his approximately $ 4 billion in proposed expenses to rebuild the in the nation’s ancient structure and expand the social safety net. On Wednesday night, he delivered his first speech to Congress, frequently mentioning jobs while trying in part to appeal to skeptical Republicans who have so far largely criticized his proposals. Related: Biden and Harris hit the road to sell their infrastructure package and families plan US stocks SPX, -0.74% DJIA, -0.61% were losing ground Friday as investors evaluated weaker earnings reports and economic data from China and Europe, along with higher-than-expected readings on personal income, consumer spending, core inflation, and consumer confidence in the U.S. Now see: These 20 stocks were the best performers for the first 100 days of the Biden presidency