After 40 years of “trickle-down economics,” Joe Biden says, “Bidenomics is just another way of saying restoring the American Dream.”
It’s not often that a politician openly pledges to bring the country back to a time of crippling inflation, high energy prices, and stifling interest rates. But this president is doing his best to keep that promise.
What you just read are the first two paragraphs of David Harsanyi’s take-down of President Biden’s claim that his “Bidenomics” (I wonder how many focus groups that came out of) is a rousing success.
Writing for The Federalist, Mr. Harsanyi deconstructs Biden’s ridiculous self-congratulation with fact after fact.
Here is a sampling:
Biden, who once claimed that the Democrats $3.5 trillion “Build Back Better” plan cost “zero dollars,” isn’t exactly a math whiz. But when he says stuff like “13.4 million jobs have been added to our economy” under his watch, more than “any other president in a full 4-year term,” anyone with even a passing familiarity with the events of the years preceding 2023 knows it’s a lie of omission.
The notion that presidents “create” jobs is itself a fantasy. In this case, though, Biden supported efforts to shutter private businesses during the pandemic, basically closing down the entire economy, not only while running for president but after winning office.
All of which is to say that the president and his allies had far more to do with destroying jobs than creating them. We don’t need to relitigate the efficacy of COVID policy here, but approximately 10 million of the jobs that Biden now brags about overseeing are just people coming back to workforce after state-compelled lockdowns.
Let’s not forget that “Bidenomics” also helped initiate the highest gas prices in history.
None of this is to even mention the hundreds of billions “Bidenomics” “invested” — the enduring euphemism for spending money we don’t have — in social engineering projects that would force us to abandon modernity in the name of “climate justice.”
Please do yourself a favor and use the link I’ve provided above to read every word of Mr. Harsanyi’s piece.
There’s an old saying that “in war, the first casualty is truth”. One look at our economic reality, versus the Biden bombast, proves that saying works perfectly for “Bidenomics” as well.
Or, put another way, what do you get when you take “BidenomicS” and remove the “idenomic”?
That is the reality of Bidenomics.
