he just cut welfare, which was mostly because he was a racist, which barely made a dent in anything. that acted as a kind of a smokescreen, but the fact is that he greatly expanded both the size and role of the government, otherwise.
the whole narrative is a stupid myth, mostly invented by liberals trying to create a thacherian strawman around him. those arguments are all true about thatcher, but they're mostly nonsense when applied to reagan.
biden shares the same basic worldview as ronald reagan, and may be the end of the reaganite lineage, in terms of direct successors. both bushes, clinton, obama and trump were essentially all continuations of reaganism, and biden is just the latest iteration of that.
but, he might be the end of the line.
at least, we can hope that some change is around the corner, anyways.