This new push by Biden’s minions to coin the phrase “Bidenomics” is just spin, a way to divert the nation’s attention from the corrupt family’s graft and grifting. It’s an attempt to hit a “reset” button on Biden, who is the second-most unpopular president since job approval ratings started, hovering around 39%. Only Jimmy Carter had worse numbers.
After two years of Biden-flation and two quarters of negative GDP, the Biden camp knows the economy will do better, as it always has. We have been through 58 recessions in our history, and we have always come out of them. The Dems are trying to claim credit for what the economy always does naturally: recover.
Biden’s policies have helped neither the economy nor Americans. Shutting down the Keystone-XL Pipeline and curtailing domestic drilling permits ran fuel prices sky high. China sends us the COVID virus and slaps us around economically like Will Smith did to Chris Rock. The one positive thing you can say about Biden Inc. and his handling of the U.S. economy is that his family members are the only ones running a trade surplus with China.
Workers and American companies have been sold out by “the swamp” to China, Ukraine, tech oligarchs and Big Pharma for years. The regulatory onslaught of liberal Democrats has cost the United States jobs and caused inflation. And draconian COVID measures set education and the economy back years.
Thus, we had a recession last year, though the media never admitted it. A recession is traditionally defined as two successive quarters of the GDP falling. In the first and second quarters of last year, we had that. But Biden told his sycophants in the media to call it “an economy in transition.” Anything for “transitions.”
The economy has shrunk in the last two quarters; last year it was down 1.6% for the whole year. To give some perspective, the average growth per year for the U.S. economy has been 3.2%. Almost all presidents have at least one year of 4% or 5% growth. But Biden is like his mentor, Barack Obama, who gave us another “historic first” as the first administration that never had a whole year of 3% growth. It is hard to grow an economy with big government holding you back.
To justify big government, the leeches have to act like they are doing things. Modern Dems have glommed onto climate change as their virtue-signaling mechanism for grifting. They jam electric cars down our throats as they fly on private jets. As Sen. Rand Paul just found out, Anthony Fauci still has a government-paid driver and limo — in retirement. John Kerry, the “climate czar,” is flying around in a huge jet.
Inflation has hurt the pocketbooks of all Americans. It is disingenuous for Biden to crow about “his” economy when he inherited a raging economy, a booming stock market and low interest rates. He caused inflation and, now that it is subsiding, he somehow thinks he can take credit for bringing inflation down with “woke” economic policies. The only quantifiable area where you can say the Dems’ policies have reduced inflation is that now Bud Light costs about half what it cost six months ago.
The economy under Biden has been good for the Bidens. His son took in millions and refused to pay taxes. He also refused to pay child support for his Arkansas-based love child.
Aside from promoting “Bidenomics,” Joe has ballyhooed his “family man” persona to rehabilitate his image, saying no matter what he is doing, he will always take a call from any of his six grandkids. In fine print, his declaration reads “Certain restrictions apply, not valid in Arkansas.”
Contact Ron Hart, a syndicated op-ed satirist, author and TV/radio commentator, at Ron@RonaldHart.com or @RonaldHart on Twitter.