As President Joe Biden counts down the days he has left in office, he’s busy trying to burnish his legacy. What he should be doing is apologizing for unleashing waste and fraud of epic proportions.
Politico, to its credit, this week reported on where the $1.6 trillion that Biden approved in spending ($1.1 trillion) and tax breaks ($500 billion-plus) for “clean energy” and infrastructure investments went.
The good news is that most of it hasn’t been spent. The bad news is that the rest appears to have vanished without a trace.
Politico found that more than half of the $1.1 trillion in new spending hasn’t even been “obligated,” which is the first step in dispensing the cash. In May, it reported that only $125 billion of that $1.1 trillion had actually “gone out the door.”
In other words, all of Biden’s bragging about his unprecedented “investments” in clean energy and infrastructure programs was bogus.
That’s good news, because there is a chance that President Donald Trump will cancel unspent funds, or at the very least grind these programs to a halt. None of that will be easy, given that lawmakers on both sides of the aisle like nothing more than spending other people’s money.