The failures of the Biden Presidency
President Joe Biden is in serious trouble.
In political terms, he has failed across the board: on foreign policy, he has surrendered Afghanistan to a ragtag gang of 8th-century tribal barbarians, incentivized a Russian invasion of Ukraine, and provided an opening for a Chinese invasion of Taiwan, all while making unrequited overtures to the terrorism-sponsoring Iranian regime; on domestic policy, he has pressed irrational COVID-19 restrictions on children, polarized Americans with foolish and illegal vaccine mandates, labeled his political opponents Jim Crow racists, and pursued radical social change on everything from gender ideology to anti-religious regulation.
But it is on the economic front that Biden has truly failed most dramatically.
Most of the consternation about Biden’s economy has been focused on the unprecedented inflation Americans are currently experiencing. Not for four decades has inflation seen these levels: according to The Wall Street Journal, “A relentless surge in US inflation reached another four-decade high last month, accelerating to a 7.5% annual rate as strong consumer demand collided with pandemic-related supply disruptions.” For his part, Biden chalks inflation up to supply chain issues connected with the COVID-19 pandemic – but as Santul Nerkar of FiveThirtyEight points out, Europe “has faced similar supply chain issues and an even worse oil shock…And yet, European countries have experienced lower inflation, perhaps due in part to their smaller government response.” Nerkar adds that Biden’s American Rescue Plan – absurdly credited by Rep. Hakeem Jeffries (D-NY) as a key factor in America defeating COVID – contributed to inflationary pressures.
But conservatives are making a large-scale political and economic mistake if they believe that the chief threat to the American economy in the mid- to long-term is inflation. It isn’t. It’s thus worthwhile discussing the future of the American economy, with an eye toward precisely the question of timeline: what are America’s short, mid-range, and long-term threats economically? As we will see, the policy we pursue right now creates significant short-term danger – but the mid-range and long-term danger dwarf whatever pain we’re experiencing right now.
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Books will be written about the myriad failures of Biden and his administration. It is terrible from top to bottom. There appears to be no one in this administration that understands the problems or what to do about them. Each new disaster demonstrates a dementia-addled Biden making half-assed decisions with no one willing to tell him he is making a mistake.
Democrats, Big Tech, and the media are responsible for foisting this guy on the country.
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