Biden on the Economy: Wrong for Way Too Long

Obama-Biden Oversaw the Worst Economic Recovery Since the Great Depression

Posted on Aug 17, 2020
By American Herald Staff

Biden’s trying to convince Americans that he’s the right choice to handle America’s economic recovery after the coronavirus. But here’s the problem: as Vice President, Biden oversaw the worst economic recovery since the Great Depression and eight years of stagnant wage growth. Before he was VP, Biden spent decades voting for and defending terrible trade deals while he cozied up to China and insisted they were not an economic threat.

Despite his record of failure, Biden is pledging to repeat his mistakes, doubling down on his failed, old, liberal ideas of raising middle-class taxes, more red tape, smothering American-made energy and sacrificing jobs. President Trump is the only candidate who knows how to fire up our country’s economic engine with pro-worker policies that put America first.

Under President Trump, July’s job report of 1.8 million jobs added is more than three times bigger than the best month Biden ever delivered.

During the global pandemic, President Trump’s Paycheck Protection Program preserved 51 million jobs, most of them at small businesses. Biden has falsely claimed the PPP was not protecting jobs.

Biden oversaw the 2009 stimulus package, which failed to deliver the “shovel ready jobs” he promised, and was plagued by taxpayer waste, fraud and abuse. Remember the $535 million Solyndra disaster?

President Trump kept his promise to renegotiate NAFTA. He replaced it with the USMCA, a huge win for American workers who bore the brunt of Biden’s bad judgment.

Biden, who once admitted he is not “an expert on international trade matters,” voted for NAFTA, then spent years defending it while 850,000 Americans lost their jobs due to the bad trade deal.

President Trump cut taxes for middle-class Americans and successfully encouraged American companies to bring $1 trillion in wealth back to the United States. Biden has said “the first thing” he would do is end President Trump’s middle-class tax cuts – and his plan would ultimately raise taxes by a whopping $4 trillion, resulting in a tax hike for 82 percent of Americans.

President Trump successfully negotiated a Phase One trade deal with China. Biden said he would stop President Trump’s efforts to hold China accountable for its unfair trade practices, allowing Beijing to rip off our country and hurt American workers without any consequences.

President Trump unleashed our energy independence. Biden wants to strangle it with The Green New Deal. Biden’s newly unveiled plan to eliminate oil, gas, and coal from our electric grid would cost $4.5 trillion and destroy 10.3 million jobs.

President Trump’s deregulatory actions are expected to increase household income annually by $3,100. At a time when workers were struggling, the Obama-Biden  Administration flooded businesses with regulations, at a cost of roughly $750 billion.

Biden has admitted himself, the economic policies he enacted as vice president were a disaster for hardworking Americans:

  • “The middle class has been buried the last four years,” Biden said in 2012.
  • “The American people right now, are, many of them are in real trouble. An even larger percentage have stagnant wages,” Biden said in 2011.
  • Biden said that Americans had a “right to be mad” and expressed concerns that he and President Obamacould lose their re-election in 2012 over the economy
  • In 2012, Biden referred to the economy as a “depression,” admitted that wages were stagnant, and said it was“hard” for those in the middle class
  • “A lot of people were left behind,” Biden told The New York Times in 2019. “In areas where people were hard hit, I don’t think we paid enough attention to their plight.”

Biden has been so wrong for so long. After 47 years of failure, he’s offering the same failed, old, liberal ideas.

President Trump is the only candidate who knows how to fire up our country’s economic engine with pro-worker policies that put America first.