“Bidenomics is about caring less about the growth rate of the economy than about growth being widely shared. The need for more muscular intervention, at the expense of growth, comes from the assumption that explosive inequality is inevitable in an unchecked market economy. That may not be true. Depending on the cause, wealth disparities can self-correct. Efforts to interfere with this process may simply prolong extreme inequality.”
Ronald Reagan debated Jimmy Carter prior to the 1980 election and led with “Are you better off today than you were four years ago?” That’s a great question to be asked during this election cycle. How do you feel now? Are you struggling to make ends meet? How are your kids doing? Bidenomics, if it is a great strategy, should have made the middle class feel more positive and financially comfortable. The polls prove this is NOT true. Fewer than 34% of those polled approve on any level. However, Reaganomics was a blueprint for letting the free market work. That’s something Biden and Democrats fail to comprehend. To them, more government is the answer, regardless of how stifling.
Big Spending
Not to forget Trump—who spent a ton on Covid—Bidenomics was all about the bizarre error of “fiscal stimulus” known as the American Rescue Plan, March, 2021, and Build Back Better (failed) and the Bipartisan Infrastructure Act (passed) and the CHIPS and Science Act (passed): around $6 trillion. Remember that the government doesn’t actually make money. It takes (steals) it from taxpayers. That’s our money he’s spending. How do you feel about that?
Inflation
Big government spending DOES cause inflation, among other factors. Even though average hourly pay has gone up a lot, inflation and consumer prices have gone up even faster. The reason is that increases in the supply of money inevitably causes inflation, so when the government “spends” more than it has, the Federal Reserve “creates” money. This is as if you started adding your Monopoly money to your wallet and people took it. This action lowers the value of your money causing everything you buy to cost more. There might have been some justification during Covid, but not for all the programs that were created. By the time Biden was in office, there was NO reason to spend more. In fact, after a serious inflationary act (creating money), the best strategy is to pull back sharply on spending.
What else causes inflation? Supply chain disruption impacts supply which means supply can’t meet demand. We know the supply chain was broken during Covid as ships and trucks couldn’t meet their deadlines. But since then, the port in Los Angeles, a major port, continues on with its union demands: no automation, no 24-hour workday and other slowdown options.
The government increased unemployment (and in California and other states, didn’t vet it carefully enough, unlawfully giving millions of our tax dollars to people who had no right to it). As Obama’s policy of letting people collect unemployment clearly demonstrated, many receiving the free money didn’t even look for work until they were running out of time. Giving people MORE money has the same effect. Right now, there are more jobs than people applying and many people are what the government doesn’t count—people who haven’t looked for a job in a long time. So, ignore unemployment numbers. They don’t include the 35-year-old son who is living in your basement.
Inflation is also caused by rises in prices of the things you need. Anyone noticed that? The first sign for me was how a small cart of groceries easily exceeded $50, the amount I was watching for, as I had a coupon good if you spent more than $50. It used to take a LOT more food to reach that number. Are companies price-gouging? Maybe some are. But in most cases, their costs have gone up substantially, especially considering the demand for the higher minimum wage. But if you think about it, if you give an employee more money which costs the employer more, he has to raise prices. Thus, the increase in salary doesn’t buy the employee much. In most cases, as is true in 2023, the employee is less well off.
The Fed tries to fix this by increasing interest rates. They try to balance interest rates and unemployment using their limited tools. But as I noted, the way unemployment is calculated is invalid. It should be the number employed over the number of adults in the population, less some small
number for the severely handicapped. The interest rate increases costs for all of us, even if you don’t take out loans. The businesses you count on are paying those increased costs, so again, you pay more for everything.
Inflation Reduction Act? Give me a break. Nothing in it helped anyone. But too many bought into the name. This is the same problem as those voting on bills. They read the name and the summary and ignore the details. Lying is an art in DC; the names simply hide the truth.
Why is the Left Doing This?
Just like many of their policies, the Left is going for votes. They are hoping the people don’t recognize how their interventions have made things much worse, similar to how FDR and Truman’s manipulation of the economy following the Great Depression elongated the recovery time. This isn’t just my opinion; economists have proven it. Inflation and the almost inevitable recession take time to appear, during which people just think that Covid is still impacting us. Just as in some years, the flu kills a lot of old and disabled people, Covid’s impact is over. Sure, the virus is still out there and mutating, but it is less severe for most and eventually, may, as many viruses do, no longer impact us.
Always look at someone’s motivation. For politicians, it’s all about money and power. And without power, they will be able to get less money. It’s never about us, unless you are talking about the very few in government who are true servant-leaders. They object, challenge and try to turn the tide, but it’s difficult when the public buys into the free lunch the Left pretends to offer.
Some Good News
Covid brought one good thing to us; the ability for many to work from home or anywhere in the world. While companies often try to force people back, there are many who realize the benefits to NOT having them in an office. Cost is a factor, but so is the trend for younger workers not to feel the need to see and work with people in person. They are comfortable working online and, in fact, many prefer it.
This means that workers are moving to less expensive cities, often in the middle of the country, draining the big voting blocs of these voters. While some may move taking the Lefty values with them, many realize why costs are so high in New York, San Francisco, Portland and more. They are questioning the votes they have made in the past. Companies are leaving the East Coast and California for cheaper places to build their business and talented workers are following them.
This will cause a drain on the population for many of these stalwart Democrat cities and states. Our lower-paid service personnel will move with them as hotels, stores and other workplaces disappear. In San Francisco, huge retail centers and hotels have disappeared, (Newsom is thrilled, ready to turn them into homeless housing). But those jobs went with them. Far better for lower-paid workers and those starting their careers to go to places where they can afford to buy a house and live a more comfortable life. Those jobs will follow the highly skilled workers.
Voting Matters
If you’ve improved your life with a move, consider why you moved as you start planning your vote. If you’re struggling, ask why? What policies in your state/country have made your life worse? Are you better off when illegals and the homeless are prioritized over you? Do higher taxes do anything for you? And if you are currently taking benefits, wouldn’t you feel some pride if instead, you took home a paycheck? Vote to eliminate the velvet-lined trap the Left has laid out for you. When someone is paying you to be dependent, they own you. Just look at women who trade their freedom to be the arm-candy of a rich man. In many cases, they have lost any freedom, and, as they age, they will also lose the benefits. If you think you can rely on welfare forever, wait until they run out of money. Vote these bums out!
