Biden wants to set aside deficit concerns to invest in ailing U.S. economy

Sen. Bernie Sanders, I-Vt., the runner-up in the 2020 Democratic primary and likely incoming chairman of the Senate Budget Committee, praised Biden’s comments in a Saturday interview.

“The president-elect is exactly right that this is not the time for austerity politics,” Sanders told NBC News. “We cannot maintain the austerity economics that have allowed the very rich to do phenomenally in this country while working people suffer.”

Sanders is poised to oversee the budget reconciliation process, which is not subject to a filibuster. Democrats, who will seize control in the 50-50 Senate with the tie-breaking vote of Vice President-elect Kamala Harris, will be able to approve policies of taxing and spending with a bare majority of votes…

Sanders said he’s eying a “bold” agenda that includes $2,000 stimulus payments, enhanced unemployment insurance, access to child care, action on climate change, mitigating student debt and investing “very significantly in expanding health care,” including by lowering the Medicare eligibility age from 65 to 60.