The growing Biden blunders

 I&I:

Swedish socialist economist Assar Lindbeck is semi-famous for saying that “in many cases rent control appears to be the most efficient technique presently known to destroy a city – except for bombing.” It’s becoming clearer that one of the most efficient ways to destroy the U.S. economy, outside of bombing the country, is to put Joe Biden in the White House.

Economic growth in the third quarter was a meager 2%, the Commerce Department reported Thursday, the most feeble increase of the pandemic recovery. Some economists had forecast a gain closer to 3%, leaving many disappointed. As the Asia Times accurately summed it up, the U.S. “economy ground to a halt.”

The economy grew 33.8% in the third quarter last year, after two straight quarters of GDP losses due to ill-advised lockdown policies. It grew 4.5% in the fourth quarter, and 6.3% in the first quarter of 2021, when Trump economic policies were still in effect. A healthy 6.7% increase followed in the second quarter, but now that Biden’s economic policies have had a few months to stew, the economy looks to have a case of sclerosis.

Blame Biden’s inflation and the supply-chain crisis that has exploded on his sleepy watch. But don’t discount how much the White House and congressional Democrats’ tax-and-spending plans have negatively impacted growth.
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There is more.

Biden deserves the blame but also the Congressional Democrats with their control-freak tax and spend policies.  Who really thinks that a $200 million dollar Pelosi park in San Francisco will grow the economy?  What is more likely is that it will become another tent city for derelicts who poop on the ground.

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