


President Biden is rarely at a loss for bad ideas.
But he deserves dubious honors for rebranding his fiscal follies as a win.
As Politico reported, the White House is going all in on a campaign to claim credit for the nation’s post-pandemic resurgence, touting an economic vision that aides see as so central to Biden’s presidential legacy they’ve gone as far as giving it a name: “Bidenomics.”
“They’re going to wrap their arms fully around the economic strategy and economic results,” said Seth Harris, the former deputy director of Biden’s National Economic Council. “And I think their expectation is that there will not be a recession.”
Are they also expecting that the America people will experience collective amnesia? Because that’s the only way one can look back at our economy under Biden and give it high marks.
True, we’re in better shape than we were during the pandemic. That happens when businesses shut down across the country, workers are furloughed or laid off, and schools turn to remote learning.
In 2020, the coronavirus pandemic impacted the payroll of 45.3% of companies with employees, according to census data. That meant 39.2% reduced the hours/benefits/pay of their employees. Of course the picture got brighter when the restrictions were lifted, even though many businesses never re-opened.
The president is expected to roll out his message in a speech Wednesday, in which he’ll outline what Bidenomics is.
Americans know what Bidenomics is, we’re living through it.
When was the last time American families could buy what they needed at the supermarket, without cutting back or doing without because prices were so high? Biden’s “transitory” inflation was anything but, despite his efforts to dodge the issue.
During a White House briefing in January, a journalist asked Biden, “Do you take any blame for inflation, Mr. President?”
“Do I take any blame for inflation? No,” the president replied.
The reporter asked, “Why not?”
“Because it was already there when I got here, man.”
When he became president, inflation was at 1.4%, Last year it hit 9.1%, 40-year-high.
In between came Democrats’ runway spending of the past two years, which fueled the inflation surge.
The president is apparently going to do his best to put lipstick on a pig during Wednesday’s speech. White House aides pointed to a range of efforts, including bolstering manufacturing investments, expanding high speed internet access and cracking down on industries that charge so-called junk fees.
Good stuff, but it doesn’t help anyone buy groceries, or lower energy bills, and that’s the day-to-day stuff that voters care about.
The real problem for Biden is that Donald Trump can counter the Bidenomics bandwagon with his own economic accomplishments.
Trump cut taxes, boosted U.S. oil independence and unemployment was at a 50-year low during his tenure.
Biden’s going to need a better message on the economy than claiming inflation “it was already there when I got here, man.”
Bidenomics is pure malarkey.
