No, none of this makes any sense. The real justification for the Biden spending spree is that Democrats, who have marched steadily to the left, are in the mood to do as much to transform the country as possible while their tenuous unified control of Washington lasts. The spending isn’t responsive to any groundswell in the country, it isn’t in keeping with the way Biden campaigned in 2020 (as moderate old Joey from Scranton), it isn’t being forced on us by events, and it isn’t carefully modulated or thought through. The best case is that conditions in America, rather than being dire, are so propitious these levels of spending can be absorbed without anything going wrong. But presidents are often defined by genuine, unexpected crises. The worry has to be that Biden will have spent a huge amount of cash and political capital before he even learns what real crisis he’ll have to confront.