On the economy and foreign policy, Biden has notched important wins

It is too early to write up the legacy of President Biden. He has six more months in office, and in these volatile times, much could happen. But it seems worth looking back at what we now know will be a one-term presidency and asking: What will define it in history?

To me, the signature aspect of Biden’s presidency has been his big break from decades of economic policy. For almost half a century, the federal government has refrained from any transformative long-term investments in the American economy. (Even the large pandemic relief payments were for consumption, not investment.)

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