Many experts have noticed this paradigm shift. Paul McCulley, a business professor at Georgetown, told the New York Times earlier this week: “Having the tools of economic stabilization that work a lot more through the fiscal channel and a lot less through the money channel is profound pro-democracy. combination of policies. In clearer terms: it is better to have elected officials rather than unelected bankers who decide how public money is spent.
This fundamental change did not come so easily. It is the result of the long struggles of the American people against the establishment since the economic crisis of 2008-09 and even before. The Occupy Wall Street movement, the Black Lives Matter struggles, the unity of action of the left of the Democratic Party with the unions and the Communists led to an extended unity of the American people who were on the streets in protest against the policies of the Trump regime over the past four years.
Biden, as a realist, took note of this change in the mood of the American people. Sanders popularized the words socialism and inequality among American youth.
The victory of the American left with this bailout is limited to domestic issues of great importance to the American people. But in terms of foreign policy, President Biden still follows some of the old policies. The left-wing group must continue to pressure President Biden to change foreign policies, especially towards Latin American regimes. It will be a big test for him, but for it the left must act with caution. The battle for a new America is off to a good start, but there are many other steps to be taken.