June 03, 2022

Politicians are very adept at taking credit for the good things that happen under their watch while blaming others for the bad outcomes. President Biden is no exception, and he does not appear to have any qualm about doing so. But that is what politicians do. However, he cannot have it both ways. If he takes credit for all the good things happening under his watch, then it is only fair that he takes the blame for the bad outcomes. Yet while the President takes credit for the good things that have happened under his watch, he does not take the blame for the inflation. The president is doubling down on tax rate increases, regulations and increasing the Federal government control of the economy. Whatever economic problem we face have the President’s answer is Build Back Better. He has argued that BBB will solve inflation, the supply chain, restore growth, transition to a green energy, produce growth that works for all etc. BBB is the elixir that will cure all economic ills. The President dirigiste agenda will not reduce the deficit and or produce higher real GDP growth rate. If President Biden is not careful, it may produce an economy that works for none.

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