Greg Ip has a great column in the WSJ on Bidenomics. It's not long, it's so well written that it's hard to condense the good parts, and you should really read it all.
There is an intellectual framework to Bidenomics, and with that a scarily more durable move on economic policy.
There used to be
"certain rules about how the world worked: governments should avoid deficits, liberalize trade and trust in markets. Taxes and social programs shouldn’t discourage work."
By contrast President Biden's (really his team's) "embrace of bigger government" is founded on different economic ideas. To wit, abridged:
Growth
Old view: Scarcity is the default condition of economies: the demand for goods, services, labor and capital is limitless, their supply is limited. ...faster growth requires raising potential by increasing incentives to work and invest. Macroeconomic tools—monetary and fiscal policy—are only occasionally needed to deal with recessions and inflation.
New view: Slack is the default condition of economies. Growth is held back not by supply but chronic lack of demand, calling for continuously stimulative fiscal and monetary policy. J.W. Mason.. said, that “‘depression economics’ applies basically all of the time.”
I guess I'm an old fogie.