Biden, being one of the primary architects of neoliberalism, isn't likely to do more than slap a bunch of bandaids on the most glaring problems and call it a day. Since the '70s neoliberals have dominated American politics with the full co-operation of the media, and the myth that money grows on rich people has dominated fiscal policy.
It is very rare that a bill that isn't military or tax reducing doesn't get immediate pushback in the form of "payfor" questions. These are completely disingenuous because every politician with more than one term under their belt knows that programs are paid for with their votes, not taxation or debt. This has been true since FDR ended the convertibility of dollars to gold in '34 to enable us to defeat the great depression.
The US dollar is a sovereign "self-funding" fiat currency that Congress can never run out of, but the concept of government having to, like the rest of us, "get" money before spending is tough to defeat since it resonates with voters so well. The truth is that Congress can afford anything that is for sale priced in US dollars and any misery that could be mitigated with money is entirely a political decision, not economics.
The federal government could fund a job guarantee similar to FDR's that pays a livable wage and offers benefits for anyone who is capable. Such a program would replace the minimum wage and would be an automatic stabilizer to the business cycle, injecting money when the private sector falters. It would pin the economy to labor again and act as a price setter.
It could be administered at the state and local level to make the best use of the labor in communities as long as it is funded with new fiat dollar creation. There is no reason for our economy to suffer such outrageous levels of unemployment, or even for one person to be involuntarily unemployed for more time than it takes to register.
We just need to recognize that deficits are natural and not a symptom of failed fiscal policy. Failed fiscal policy is clawing back every dollar spent with taxation, effectively stealing the resources and labor the government demands. That is an accurate description of a "balanced budget", the holy grail of politicians pandering to misinformed voters.
