Please retweet this? Today’s scathing article from the WSJ Editorial Board on Biden/Harris is one of the most accurate and non-partisan assessments of the U.S. economy. It should serve as a serious challenge to Harris’s campaign.
Note: The WSJ is widely regarded as one of the least partisan mainstream media outlets. The Editorial Board’s analysis directly challenges the narrative from the left and could be a blueprint for Trump’s campaign to counter the economic claims made by Harris, Biden, and many Democrats.
For instance, the article highlights the consequences of their spending, leading to “…$5.8 trillion in deficits during Mr. Biden’s first three years — about twice as much as during Donald Trump’s — and the highest inflation in four decades.”
Since many people do not subscribe to the WSJ, here are the highlights:
“Kamala Harris plans to roll out her economic priorities in a speech on Friday, though leaks to the press say not to expect much different than the last 4 years. That’s bad news b/c the Biden-Harris economic record has left most Americans worse off than they were four years ago. The evidence is indisputable.”
• Economic Conditions: The economy in Jan 2021 was already recovering from the pandemic, but the Biden-Harris administration's policies have worsened it.
• Excessive Government Spending: The Biden administration's $1.9 trillion spending in March 2021, under the guise of COVID relief, is criticized for fueling inflation and discouraging people from returning to work.
• Inflation: Massive gov’t spending Fed Reserve policies led to inflation, which peaked at 9.1% in June 2022, affecting housing prices and general consumer costs.
• Distorted Investment: Gov’t spending is said to have distorted private investment, with an emphasis on green energy and other priorities, resulting in slower growth in research, development, and manufacturing output.
• Job Growth Misrepresented: The Biden administration’s claim of adding 16 million jobs is challenged, with the editorial board stating that these jobs mostly backfilled pandemic losses and that new jobs are concentrated in sectors like government and healthcare.
• Regulatory Burdens: The administration is accused of creating uncertainty for businesses through costly regulations, affecting sectors like power plants, broadband, and labor markets.
• Economic Disparities: The WSJ editorial board asserts that socioeconomic disparities have increased under the Biden-Harris administration, with most Americans feeling financially insecure despite some economic expansion.
• Harris's Economic Plans: Kamala Harris’s upcoming economic priorities are expected to continue the same policies, with little improvement for most Americans.
wsj.com/opinion/joe-biden-ka…