What happened? Joe BidenJoe BidenTrump Administration Pushes Bomb Selling to Saudis Klobuchar: Trump “Tries To Burn This Country Down On The Way Out” OVERNIGHT ENERGY: EPA Refuses To Tighten Air Quality Standard For Smog | Green groups are complaining about Trump’s offer to open Alaska’s Tongass forest to deforestation MORE finally got the big job.He would get the great house, chat in front of the cool plane, (almost) everyone loved him, and he could set up a comfortable retirement.His close friends were gathered around his Christmas tree, expecting all sorts of big presents, but everything what they found in their stockings was … lumps of coal The Grinch had stolen his Christmas party

All of this is a lengthy way of saying that by far the most important job in the Biden administration will be the director of the Office of Management and Budget (OMB) In the past year, pocket money is gone in response to COVID-19.There really isn’t any left, and the next four years will be a period of intense belt tightening Adam SmithDavid (Adam) Adam SmithOvernight Defense: Trump vetoed and vetoed the defense bill Override vote A Trump objects to state funding, the aid package COVID-19 | Trump offers “friendly health advice” to Iran as tensions tighten Trump’s defense laws Establishing a possible debt override is not a sustainable policy decision MORE was right: if the books aren’t even, you’ll be done sooner or later

The problem, of course, is that the spending spree of the past 10 to 15 years – but especially last year – means that fancy new plans and strategies have to go straight to the trash, and that bitter medicine has to come from OMB

There is no monetary policy solution Under President Obama, the Fed kept the interest rate at zero to increase his spending Conditions now vary widely The pandemic and its associated restrictions have both official and unofficial (i.e. discouraged people with no work Seeking More) Unemployment Driven Up A monetary policy-driven strategy will only fuel an even more destructive inflation cycle than we have before us. That would spike unemployment even further, spark major riots and the “Defund the Police” bumper sticker in “Quick the Police Quickly “In addition, this Fed is unlikely to play this game

The only answer is OMB and the budget. Once the budget analysts take their pens out, there is no room for student loan forgiveness, the trillion dollar demands of teachers’ unions, the Green New Deal, the steep shutdown of the oil and gas industry Gas industry, healthcare expansion and the state and local government aid, or anything else on the list of progressives for Santa Claus, the Department of Defense budget will likely need to be cut, disappointing contractors who have put money in Biden and are counting on a multitude of new equipment purchases The OMB and the Senate Budgets Committee under both parties will essentially run the government for the next four years. Expansive fantasy budgets and large increases in the debt ceiling would be self-destructive, if not criminal

Biden’s dreams of big NATO or G-20 meetings – where he could make friends by spending billions of dollars to pay off countries that pretend to defend themselves or not to pollute – will be ruined Same goes for paying billions of dollars more to Iran or North Korea to pretend they’re not developing nuclear weapons. Won’t happen. No Peace Prize

OMB might choose to ignore all of this and create nonsensical budgets, as is the case with Obama’s administration, who can forget those heady days when the Democrat-led Senate ruled Obama’s budgets 99: 0 or 98: 1 refused? Without the Fed to bail them out today, any sane OMB director and president would create serious budgets to control their own destiny, otherwise it will open a business cycle that America may not survive: growing debts that cannot be paid Gigantic Inflation, which adds a huge “invisible tax” to the big tax hike Biden is planning for everyone, capital flight similar to Obama, stifling any private sector investment that could create jobs Destroying energy jobs Rising energy costs, destroying jobs in all sectors No money in the bank for public works Rapid unemployment

The closest analog to this is the Ford Administration America needed reassurance and recovering from the Watergate scandal and the trauma of Vietnam, much like America is now recovering from the (for many) President Trump-Donald TrumpMcCarthy attack to petition UC to review foreign spending in the Omnibus GOP Senator for Trump pardons: ‘This is rotten to the core Trump apologizes to Manafort, Stone and Charles Kushner in the final round of MORE Inflation rose and tightening the belt was the only solution OMB, under the direction of Deputy Director Paul O’Neill, headed the administration President Ford thought the slogan was for his administration WIN (Whip Inflation Now), but the real slogan was NO (which meant “No!”) Ford set a Guinness record for vetoing spending bills

When selling to the land, OMB modified Nixon’s new federalism as part of block grants. The concept was to bundle programs across different parts of the budget (i.e. He, Human Services), reduce the total budget amount and then distribute it as semi-earmarked cash grants to the states to be administered.The concept was to combine the bitter pill (less money) with some sugar to give state and local authorities more control to give about the money to be managed Whether this feat will work today is up for debate. What is not really disputed is that budgetary control is required at all levels of American government

Joe Biden comes to the White House after running a campaign with no vision or political imagination he was destined to become janitorial president, and his sure but unimaginative decisions as vice president and cabinet reflect that he has no managerial skills shown; He also doesn’t seem to have any historical context for his presidency. The smartest thing he could do would be to have a great OMB director and get out of the way

Grady Means is a writer (GradyMeanscom) and former corporate strategy advisor. He served in the White House as Political Assistant to Vice President Nelson Rockefeller. Follow him on Twitter @ gradymeans1

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The Grinch

World News – FI – The Grinch steals Joe Biden’s Christmas

Source: https://thehill.com/opinion/white-house/530665-the-grinch-steals-joe-bidens-christmas