But instead of calling off the failed economic strategy, Democratic leaders are still peddling green energy and the $3 trillion Build Back Better bill, writes StephenMoore. No one in the White House or the media will admit any of this.
’ve been struck by the opinion divide on the state of the economy between people with real jobs in America and the elite opinions in Washington.
To listen to this chorus, which includes the White House economics team, you’d think we should be partying like it’s 1999! Biden says he’s abandoned “trickle-down economics.” Instead, he’s setting the course for a sturdier and more robust economy. But rather than “building back better,” we’d probably be much better off if he’d just left things the way he found them.
They are right to be afraid. Over the past two and a half years, since the start of COVID, we have spent and borrowed in Washington $5 trillion we don’t have. Our welfare and give-away programs have chased millions out of the workforce for two years now and into the hammock. Free rent. Free medical care. Free food. No need to rush back to work.
The losses worsen month after month, and inflation stays above the wage gains. In other words, the public isn't just imagining that the economy and family finances are heading south. They are.
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