Despite spending 47 years serving in public office, Joe Biden knows nothing about the economy our how to spur the Great American Comeback post COVID-19.
The Obama-Biden administration presided over the slowest recovery in modern times, with the highest median jobless rate since World War II. Economic growth was pegged at 2 percent during their tenure, far below the 4 percent economic growth the country had experienced during the second world war. This was largely the result of over-regulation, higher taxes, bad trade deals and stifling the energy sector in favor of green new jobs that never appeared.
Even Democratic pundits and former officials concede Biden’s weakness on the economy:
CNN’s Christine Romans: “Senator Joe Biden’s forte is foreign policy, not the economy.”
William Glaston of the Brookings Institute and former policy adviser to former President Bill Clinton: “I don’t think anyone would say Joe Biden has fantastic economic chops.”
The Nation: “Biden is an avowed “free trader” and has supported NAFTA, the TPP, and China in the WTO. Given his record, he has little choice but to try to defend the indefensible. This won’t go well.”
Politico: “I don’t think [the economy] is a challenge for the Biden campaign. This is the challenge for the Biden campaign. If they can’t figure this out they should all just go home,” said a former Obama White House official.
Vox: “Former Vice President Joe Biden has never really sought or received a reputation as a deep thinker on domestic policy matters.”
Chuck Raasch: “Biden was largely viewed as an answer to perceived holes in Obama’s foreign policy credentials, and the six-term senator from Delaware is far less known for his economic expertise.”
It has been reported Biden will use his handling of the 2009 recession as a benchmark for his economic recovery plans, but that’s a risky gamble, as it came under heavy criticism from both the left and the right as to how effective it actually was. In 2015, the Congressional Budget Office said the 2009 stimulus added $840 billion to debt and had no lasting effects on the economy. Not to mention it led to more than 100 criminal investigations and backed projects that ripped-off American taxpayers, like Solyndra, Cree, a green manufacturing building factories in China, and Fisker Automotive.
As Vice President, Biden took responsibility for the economic record of the Obama administration, admitting that the middle class had “been buried.” The administration presided over the “worst recovery” of modern times that left a “legacy of worsening deficits. While Biden declared manufacturing was back, the U.S. economy lost 300,000 manufacturing jobs and the number of food stamp recipients climbed.
Biden was as clueless on the economy then, as he is now. He’s not the leader we need to drive the Great American Comeback post COVID-19.