President Biden(‘s handlers) have been going on a lot lately about the supposed successes of what they are calling “Bidenomics.” The trouble is that they are completely full of shit. The Biden(‘s handlers) economic plan is an utter failure.
“Trickle-down economics has never worked.”
That’s what President Joe Biden says any time he’s talking about economic policy. Assuming our Octogenarian-in-Chief knows what he’s talking about, he’s guilty of what psychiatrists call projection.
Because it’s Bidenomics that has failed everywhere it’s been tried. At home. Abroad. Throughout history. And right now in states across the U.S.
Earlier this week in our What We’re Reading column, we linked to a multitude of stories that had been published detailing how Biden’s approach to economic policy — high taxes, heavy regulation, attacks on the rich and businesses, coddling criminals, and Biden-style graft and corruption — is ruining cities and states across the country (‘Blue-State’ Model Gets An ‘F’).
For years we have been documenting how Red states — conservative states that follow the pro-growth policies Biden derides as “trickle down” — have vastly outperformed Blue states. They suffered less during COVID because they didn’t embrace the left’s lockdown mania. They recovered faster because they rejected Biden’s get-paid-for-not-working policies.
Joe Biden has been a serial liar throughout his political career (not that he’s ever had any other career; like all too many Imperial City types, the guy’s never done an honest day’s work in his life) but this is particularly egregious, as too many ordinary folks are suffering under the consummate stupidity of leftist economic policies. But there are bright spots.
For years we have been documenting how Red states — conservative states that follow the pro-growth policies Biden derides as “trickle down” — have vastly outperformed Blue states. They suffered less during COVID because they didn’t embrace the left’s lockdown mania. They recovered faster because they rejected Biden’s get-paid-for-not-working policies.
(See, for example, Say, Looks Like That Supply-Side Stuff Works After All, The Great Divorce? 2.6 Million Fled Counties That Voted For Biden, and The Results Are In: Red States Won The COVID Fight, Hands Down.)
But wait! There’s more!
Biden’s precious middle class is also doing worse in Bidenomics states.
The Boston Herald noted last week how wages grew by just 2.6% in New York and 2.9% in California — which have gone full Bidenomics — but were up 9.1% in Florida and 7.7% in Texas. What’s more, “Florida and Texas both outperformed California and New York in manufacturing, finance, information, retail, and professional services.”
Of course, if you want evidence of the failure of Bidenomics, you only have to look at what it’s produced since Biden came into office. Falling wages. Sky high inflation. Financial stress. Our I&I/TIPP poll finds that most Americans agree that Bidenomics is not working.
And if you want evidence of the success of “trickle-down” economics, look at the Reagan boom, or the pre-COVID Trump boom. Or look internationally, where you find a direct relationship between low taxes and less regulation and other indicators of economic freedom — which all get lumped into the “trickle down” epithet — and general prosperity.
Biden apparently hopes that Bidenomics will be his salvation come next November. We hope it takes him down before it takes the entire nation down.
We can hope it takes down the Biden(‘s handlers) Administration and a whole passel of Congressional Democrats as well, but it remains to be seen whether the votes of the economic literates will outweigh the votes of those seeking Free Shit. But the other guys, the Republicans, need to offer something as well, instead of just slamming the Dems. Pw0ning the libz is fun, but you have to be the alternative, not just the attack dog.
What should that alternative be? Liberty, of course. Promise deregulation. Promise lower tax rates. Promise smaller government. Promise that people will be able to keep more of what they earned. Promise to make it harder for looters and moochers to coast in neutral. And, while you’re at it, talk about bringing order back to our major cities, and maybe eliminating some extra-Constitutional Imperial agencies.