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Biden Has No Answers on the Economy

President Biden and the Democrats have only two sales pitches when it comes to the economy.  The first is the rose-colored-glasses approach.  The economy is in great shape … record growth … low unemployment … strong consumer spending.  Nothing to worry about.

The second sales pitch is that inflation, empty shelves, and shortage of workers are real, but not the fault of Biden’s policies – but Democrats understand the folks back home are suffering and they are working on the problems.

In terms of the economy is great argument, Biden is taking all the credit.  Actually, how much credit his administration and Democrats in Congress really deserve is debatable. Maybe they do not deserve any credit at all.  Maybe their policies prevented the economy from doing even better.

The most important thing to recall is that the economic downturn was created in Washington because of the Covid Pandemic.  Whether the intentional shutdown was insufficient, just right, or excessive is a moot point.  It was what it was.

However, because the economic downturn was not due to a systemic problem in the economy – and came when the economy was surging without inflation and shortages – every economist predicted that the eventual recovery would be swift.  The economy would come roaring back on its own – as all the businesses and buyers returned to their normal practices.

Nothing Biden and the Democrats did contribute to the recovery.  And even as they try to take credit, they are seemingly unable to show specifically what they did to cause the impressive – even record – growth.  It was baked into the cake.

Democrats point to the stimulus package that they passed and Biden signed as a major contribution to the recovery.  In fact, it poured too much money into an already overheating economy and kicked off inflation.

Gearing up for the final furlongs of the campaign season, Biden is outlining his plans for addressing the economic issues.  He did so in an opinion article he penned (or someone penned) for the Wall Street Journal based on an early announcement by the White House.

Typical of Biden, his “plan” is a promise of something for everyone.  The operative word is “lower.”  Biden’s plan promises to lower – “energy bills,” “prescription drugs and healthcare costs,” “food prices,” “cost of everyday goods,” “cost of childcare and long-term care,” and “cost of housing.” And he will reduce the deficit at the same time.  All of that is in his “plan.”  He might as well have promised to cure cancer and end climate warming.  (Oh .. he already promised that during the campaign.)

Biden claims that he can finance all this by closing tax loopholes on millionaires and billionaires – and that leftwing favorite, increase the tax on corporations.  There is a good argument for closing some of the more egregious loopholes used by the super-rich, but taxing corporations relies on maintaining a very uninformed and gullible citizenry.

Businesses do not PAY taxes but pass the cost along to the consumer who pays the tax.  It is a regressive indirect tax that hits the poorest the hardest.

The pump price for gas is an ideal illustration of the impact of corporate taxes.  The national average price for a gallon of gas is approximately $4.60 – and rising.  In a state like Florida, I pay about $4.40 per gallon.  In California, they are paying more than $6.00 per gallon – more than $8 in Los Angeles.  The difference is mostly attributable to state taxes. 

Most folks seem to understand that when we add a tax on gas, we see the pump price increase.  Why do we fail to understand that when you add taxes to other businesses, the prices go up?

 Because Biden and his Democrat pals in Congress have ignited the flames of inflation with excessive spending, the Federal Reserve is stepping in to slow the economy down by increasing interest rates.  That means everything a person buys “on time” will cost more – housing, cars, and all credit card purchases.

The problem with the Biden economic plan is that it will not work because it is not a real plan – and he probably knows that it will not work.  The entire plan is nothing more than empty campaign-style promises.  But unfortunately for Biden, reality will eventually set in.  Biden & Co. are hoping that they can ride on the promises until after the 2022 midterm elections are over.

All the promises and rosy rhetoric, however, may not be enough to convince the public.  People are not stupid.  They can see through empty promises.  That may be why all this self-praising talk and the fantastical promises are not being well received by the general public.  We can see that in the fact that Biden has record-low favorability ratings (36%) – and why 80 percent of the people believe America is heading in the wrong direction.  Even the once dependable black and brown vote is slipping away.

Biden does not have a real “plan” – just more empty promises. 

So, there ‘tis.

Written by Larry Horist

11 Comments

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  1. Here is something to think about, Trump involvement in helping Putin to go forward with a full invasion of Ukraine war.

    Lets look at documented facts:
    1. Trump delayed weapons to Ukraine and praised Putin*.
    2. There’s just a lot of evidence that Trump was wrong on Ukraine and that in many ways he tried to undermine the NATO alliance and undermined how the world sees America.
    3. Trump created discourse here in the US with a failed coup attempt and in Putin eyes he saw America as being weak.
    4. In August 2014, unmarked Russian military vehicles crossed the border into the Donetsk republic. An undeclared war began between Ukrainian forces on one side, and separatists intermingled with Russian troops on the other, although Russia attempted to hide its involvement. When Trump took office he FAILDED to take action against Putin the entire time in office.

    Stimulus Checks: How much was paid for each of the three rounds? (This has also contributed to inflation)
    First round, from the CARES Act, March 2020

    • $1,200 per income tax filer, $500 per child
    Second round, from the Consolidated Appropriations Act, December 2020

    • $600 per income tax filer, $600 per child

    Third round, from the American Rescue Plan Act, March 2021
    • $1,400 per income tax filer, $1,400 per child

    *Trump had no choice in sending arms to Ukraine why because it was President Barack Obama, who signed off on providing Ukraine with lethal weapons such as Javelin anti-tank missiles. Trump tried to take credit but we know better

    Bottom line as I see it had Trump made “America Great Again” I believe Putin would have NOT invaded Ukraine and we would have – NO war, NO massive inflation and NO major price increases in gas prices at the pump that we are now experiencing.

    • Allen , HEY ! U can now pull Ur head out from the FAR LEFT’S Rear Quarter’s. If , U think that POTUS Donald J. Trump had anything to do with the Invasion of Ukraine U really have a PROBLEM !

    • Sep 18, 2014, The Obama administration provided $46 million in non-lethal security assistance and $7 million for relief organizations humanitarian efforts. Obama/Biden were chastised by the international community for the decision not to send hi tech weapons instead. Obama justified his actions by stating: “Because Ukraine already had plenty of offensive weapons.” NATO and other countries noted that Ukraine was in disarray from the results of the CIA coup there. And mostly what Russia did was make sure that Ukrainians who identify as Russians were well-armed and ready to deal with the CIA Ukraine government—and they did.

    • What in the hell does that have to with me getting a HALF tank of gas for the truck yesterday for only $75 and the $135,000 contract that got calcined last week because our client has decided not to go forward with their planned expansion because of what brandon is doing to them?

      I already had to let one guy go because of the loss of that contract and am going to be forced to raise my labor/overhead rates and loose more business, causing me to lay off another guy, and still have dig into my pockets to keep the company open….And there is damn little left in my pockets after buying $10/lb bidenbeef. To say nothing of the the newborns that are sick because brandon’s FDA is dragging it’s feet getting that formula plant back on line. (Give us enough money and I’ll put a crew together that will get the place up and running in a week)

      My personal standard of living is going down too. Going out to dinner with my wife any more is out of the question and we are eating leftovers until they are gone. A bidenburger in a decent restaurant is 20 bucks now and they are getting over 5 bucks for a common Budweiser! I don’t even want to think about what a good steak dinner goes for- If you NWO Marxists want to turn America into a 3d world country you got one hell of a start on it. – What Putin or PRESIDENT Trump has to do with what you commies are doing to me and my family is beyond me, though.

      And I got news for nimrods like you.After the his abject cowardice and leaving people for dead in the Afgan withdrawal Putin knows that brandon is a class A sissy boy with our a spark of leadership and knows that he can do whatever he wants in Ukraine and brandon will not do a thing to stop him. …. Putin was afraid of PRESIDENT Trump but he sees the senile old twit for the doddering whip that he is and “da Ho” is even worse.

      Tell you what Bunky. You and the rest of you useful(less) fools better get a hold of an accurate history book that was not re-written by the commie teacher’s unions and check out what happened to the Bolsheviks when the communist party was done with them. If the NWO Marxist (democrat) party ever does ever totally seize control of America from We the People you useful idiots will not be around to see how things come out. Your commissars will put you all to sleep.

  2. GEE ! Someone finally wake-up and Finally Realized that China Joe Never had One and will Never have One. China Joe isn’t running our Country ! It’s Puppet Master Susan Rice and O’ butthead Obama. Chi a Joe’s Handlers are the Ones that tell China what to do , When to do it ,
    What to Say and What not to Say. China Joe can’t Read the Teleprompter without Mommy Jilly
    to help him by holding his Little Hands. Lol ! This Country will need every bit of LUCK We The People can get. China JOE thinks that the Economy is something U drink or Eat. 😎😎😎😎

  3. You are so biased and wrong I don’t even know where to start. Trump will always be known as the finest President since Abraham Lincoln. The people that show up to his rallies in person and across the USA. They wont write gossip for a paycheck. You should go to one. You dream up you bullchit articles while the people at the last Trump rally was the largest rally in their state in history.

  4. Allen, it’s very apparent that you receive your misinformation from the Fake News media sources, such as: MSNBC, CNN, ABC, CBS, NBC, PBS, NPR, NY-Times, Wash-Post, LA-Times, Huff-Post.

    I would like to ask you just one question. Why did Putin wait until Joe Biden stole office to make his move’s to invade Ukraine?

    Allen, I’m going to correct just one of your many incorrect claims of what you claimed are“facts!” Obama did not authorize any weapons of any kind to Ukraine nor Poland. All Obama sent Ukraine was sandwiches and bottled water! President Trump sold Poland missile systems which were pointed directly at Russia. Trump also provided Ukraine all kinds of weapon’s systems. Allen, your delusional comments are actually ridiculous and astounding that you’re that misinformed.

  5. Biden has no answers on the economy? Doesn’t he have advisors and cabinet members to come up with answers? If he, and his team, have no answers as to why we’re doing so poorly, then it may just be time to do what they do with professional sports teams … FIRE THE MANAGER/COACH! Then we put somebody in there that CAN come up with some answers.

  6. the economy was roaring back, but Biden couldn’t accept that, everything he did from day one was to destroy the economy, YOU CAN’T FIX STUPID…………

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