No business at the White House: Biden’s inexperienced lackeys unlikely to pull US out of inflation doom
You’ve heard the saying, “Get woke, go broke.”
Well, that is exactly what is happening to America as President Biden prioritizes woke concerns such as climate change and gender and racial “equity” over sound economic management.
With inflation hitting a spine-chilling record 9.1%, there is fat chance of his know-nothing administration having the competence and know-how to pull us out of this doom spiral.
It’s no accident, either, since Biden deliberately has appointed people who tick the right “diversity” boxes, in terms of their physical appearance, with no concern about whether they are qualified to oversee a $6 trillion federal government.
A staggering new report from the Committee to Unleash Prosperity shows that most of Biden’s top officials have zero experience in business.
Economists Stephen Moore and Jon Decker analyzed the work records and résumés of 68 officials with carriage of the economy and found almost two-thirds have zero business experience, including Biden himself. Just one in eight has what you could call “extensive” experience in business.
Their report, “Not Ready for Prime Time Players,” found that the average business experience of Biden appointees is only 2.4 years and the median years of business experience is a big fat zero.
Experience a minus
Most of Biden’s economic team are lawyers, community organizers, lobbyists, or government employees.
Instead of grabbing the reins of the economy to set things right at a time of crisis, they are preoccupied with big spending programs and woke priorities while working people and small businesses drown.
Starting at the top, Biden and Vice President Kamala Harris both have zero years of business experience, and it shows.
Having inherited an inflation rate of 1.4% when he took office, Biden and his team of geniuses ignored warnings last March that the $1.9 trillion “American Rescue” spending plan would overstimulate the economy at precisely the wrong time.
Morgan Stanley recently attributed most of the rise in inflation to “excessive fiscal stimulus provided during the pandemic, particularly during the last $1.9 trillion package at the end of March 2021 just as the economy was already emerging from the lockdowns. In our view this is what turbocharged consumption and drove inflation to 40-year highs.”
The president has tried to blame Vladimir Putin, Donald Trump, Republicans, COVID-19, the supply chain, oil company executives and gas station owners, everything but his own foolish policies, particularly his green energy agenda.
He and his advisers spent the last year claiming inflation was “transitory,” “temporary,” a “good sign” and even, as his chief of staff Ron Klain suggested, a “high-class problem.” But no one exposed to the real economy was fooled, since every visit to the gas pump or the supermarket told the truth.
“There’s nobody suggesting there’s unchecked inflation on the way,” Biden snapped last July when challenged about an inflation rate which, at that point, was soaring toward 6%.
“I don’t know anybody who’s worried about inflation.”
And that’s the problem.
Barely anybody in his administration understands the economy.
Treasury Secretary Janet Yellen has zero business experience, having spent her life in academia and government. That might explain why she was in denial about inflation for so long, refused to admit the $1.9 trillion stimulus poured fuel on the fire and had advocated more spending and higher taxes in the form of Biden’s $5 trillion “Build Back Better” plan which, luckily, failed to pass Congress or we’d be in an even worse pickle.
Of course, Biden and his partners in delusion, Nancy Pelosi and Chuck Schumer, are still scheming to ram through some version of the plan.
“The cascade of policy and management mistakes that are piling up in the Biden government are at least in part a consequence of lack of basic skills and competency,” write Moore and Decker.
Read the rest there. This is going to be great, for certain values of ‘great.’