Biden: Destroying the American Economy in The First Year

On May 19, 2019, Joe Biden spoke in Pennsylvania and said that President Trump “inherited a good economy” from the Obama Administration. So intent was Biden on expressing how Obama handed Trump a great economy,  that Biden stressed that people should pay attention to the “facts” he was presenting.   According to Biden, the economy, so enjoyed by Democrats and Republicans, under President Trump was actually the fruits of the hard work of the Obama Administration. So naturally, Joe failed to point out that this “good economy” he referred to was now three years into the Trump Administration.  

Now, as most Americans look around and wonder what happened to gas prices, food prices, and what the heck is going on with energy prices, Biden again has an answer. On April 28, 2021, four months into Biden’s presidency and as prices skyrocket and America starts into what is now viewed as the worst economy and the highest inflation rate since 1982, Biden has the answer. It’s all Trump’s fault. According to Biden, he “inherited the worst economic crisis since the Great Depression.”  Well, perhaps that is a little overdramatic, but if you’re going to lie, why not just lie big? Lying appears to be Biden’s key weapon.   

Notwithstanding all the many promises Biden made and has since ignored, it’s hard to blame Trump for a lousy economy. If you look at the facts - as Biden so expresses -  these negative economic impacts did not happen until Biden took office and started implementing his policies. The Biden policies have stalled shipping of products, raised government minimum wage overnight without the gradual increase usually recommended, and pushed for increases in the minimum wage, which some companies adopted, again, without a monitored and planned rollout. These Economic Ignorant actions have directly harmed the economy.  

Now let’s be fair yes people working jobs deserve better wages, but let’s also understand something about minimum wage. First, the minimum wage was never meant to be a living wage. It was meant for high school kids, college students, and trade students. It was meant to be your first job wage while working toward something more significant and better. The concept is simple, you earn minimum wage until you’re skilled or degreed to a level of doing something else, or you advance in your job through the ranks. Unfortunately, this system is not working, and in many cases, people have chosen to continue to work minimum wage jobs instead of trying to find something better. Fast forward, and suddenly the guy at the coffee shop is making $18 an hour to fix your coffee; the guy flipping hamburgers is making $15 an hour to push a timer and flip a burger. The people stocking the shelves at your craft store make $18.50 an hour. But, as we do this, we have degreed people making $14 an hour, we have skilled medical people making $16 an hour, and those people, after years of hard work and education, have been left behind.  

With the boom in wages comes a boom in cost. This means that corporations have to raise the price of products and services to make money. Once they raise costs, even the people making $18 an hour will find it hard to make ends meet. Let’s not even talk about seniors on fixed incomes that anticipated a slow economic growth and slow wage increases…not an overnight doubling of wages. The answer to who started all this across the country…Joe Biden. 

So, Joe has a good idea - let’s get more money to the working people…let’s raise the minimum wage. That’s fine, but obviously, nobody in the White House understands basic economics…just listen to the press secretary for a minute, and you can figure that out…so if Joe raises wages - especially federal contractors and workers- and others follow the program, then you have an economy that can not help but suffer huge setbacks. The plan should have been set up like Arkansas set theirs up - slow and one step at a time. Arkansas has a plan to raise the minimum wage over several years…not overnight. But Arkansas has a Republican Governor and Republican-controlled legislature, so it’s not likely Joe was going to listen to him. While Republicans in Arkansas implemented a well-thought-out and coordinated plan presented to the people, Biden simply jumped forward without any thought to the consequences of his actions.   

No, Joe, you did not “inherit the worst economic crisis since the Great Depression.”  No, Joe, you started the worst economic crisis since the Great Depression by ignoring fundamental economic truths. But, to be fair,  what can we expect from a man confused about whether Trump inherited a great economy or gave Biden a bad one? Biden, you can’t have it both ways.