Joe Biden and the “Transformational” Presidency
Much is made of the failure of Republicans to make predicted gains in the recent midterm elections, but, as Ryan McMaken has pointed out, Congress plays a much-diminished role in national governance to the point that even had the so-called Red Wave actually occurred, it is doubtful that much would have changed regarding Joe Biden’s presidency. In fact, most of what Biden has done in his two years in office has been outside of Congressional legislative matters.
McMaken points out:
This all combines to mean we should expect very little change on policies at the federal level. For example, we can expect to keep hearing plenty about the evil of fossil fuels. The administration will continue to press for less drilling for oil and gas, and the war on coal will continue. The administration will continue to issue new edicts for “fighting global warming.”
As McMaken notes, Biden has used executive orders liberally, sometimes using a twisted interpretation of federal law, and then unleashing his regulatory and law enforcement agencies to get his desired results. For example, federal banking regulators and the Securities and Exchange Commission have pressured banks and other lenders not to led to the oil and gas industry, citing the fealty to fighting climate change as the reason.
Note that the administration is doing this not via Congressional authorization, but rather through its own self-serving “interpretation” of existing federal law. Likewise, Biden’s infamous student loan forgiveness order was not through such relief passed by Congress, but rather using a 2003 federal law that permits the U.S. Secretary of Education to employ “expansive authority to alleviate the hardship that federal student loan recipients may suffer as a result of national emergencies.” What constitutes a “national emergency” must be in the eyes of the beholder, as any reason will do – and, so far, the courts have signed off on this vast expansion of executive power. This is reminiscent of Franklin Roosevelt’s perverse interpretation of the 1917 Trading with the Enemy Act to undergird his gold seizure from Americans and devaluate the dollar.
Article from Mises Wire