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Biden administration no doubt shares in some of the blame for the inflation
Campaign talk is cheap, but if President Joe Biden meant any of his 2020 talk of uniting Americans, he’s clearly succeeding, just not in the way he intended. A Reuters/Ipsos poll released last week showed that just 40% of Americans approve of the president’s performance, while other polling has consistently shown Vice President Kamala Harris’ favorability rating to be historically low.
Concerns about the economy, plagued by inflation which has eroded the spending power of all Americans, rightly persist. And on that front, the Biden administration has offered little to give Americans hope.
As Reuters’ Josephine Walker notes in her analysis of the Reuters/Ipsos poll, “The White House in recent weeks has kicked off a series of events aimed to lift Americans’ dour mood about the economy, touting what it calls the Democratic president’s ‘Bidenomics’ agenda.”
As economist Veronique de Rugy noted in these pages on Sunday, Bidenomics hasn’t brought anything new to the table but more spending and more cronyism.
While the Biden administration and Democratic Party operatives like to point to the surge in new jobs created since Biden’s election, what they never want to acknowledge is that the main reason so many jobs were created since January 2021 is because of the easing of state government restrictions on job-creators amid the COVID-19 pandemic.
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Likewise, the Biden administration no doubt shares in some of the blame for the inflation which has fallen hardest on lower- and middle-income Americans. The Biden administration spent wildly prior to the Republican takeover of the House, which no doubt contributed to the classic inflationary problem of too many dollars chasing too few goods.
The Biden administration has succeeded in uniting Americans against the far-left Biden agenda
Meanwhile, the administration’s chief policy preferences have included a failed and illegal attempt to erase hundreds of billions of dollars of student loans debt, and successful but questionable subsidies for electric cars and the semiconductor industry.
Bidenomics, in short, isn’t helping the ordinary American. Nor is there any reason to believe it can.
