LETTER: The failure of Bidenomics
In response to your Dec. 18 editorial, “Why Biden can’t convince voters on the economy”: The late, great free-market economist Milton Friedman once said, “Governments cause inflation.” No finer example of that is Bidenomics.
President Joe Biden foolishly and recklessly injected billions of dollars into an economy that was already recovering from COVID. This is turn caused inflation to soar to heights not seen in 40 years and the greatest loss in consumer purchasing power and real wages in decades. It would have been better if he had just left the economy alone.
The trouble is, the Democratic Party has a history of doing things to the economy through social engineering that cause a great deal of harm to ordinary people. Remember the housing crisis some 15 years ago? It took a significant amount of time for that industry to recover from Democratic stupidity.
It also brings to mind what James Carville once said when trying to convince people to vote for Bill Clinton. He said,” It’s the economy, stupid.”
In President’s Biden case, the statement convincing people not to vote for him is, “It’s the spending, stupid.”