As I attend various meetings, and have casual conversations with people I meet, they ask me to explain why Bidenomics is not the same as Reaganomics. The first time I heard this question, I wondered whether President Biden was attempting to co-op the positive perception many of us have for the effects of Reaganomics.
You can’t blame Biden for maybe doing so. After all, with no signature accomplishment to his credit Biden needs to redirect citizens’ attention away from the inhumane southern border, and the lawlessness in America’s cities, the drugs and fentanyl ruining so many lives, the cost of gas and other modes of transportaion, the effects of inflation, and the tripe the teachers’ union wants people to accept as “education”—Biden is desperate to look like any president other than the one he is; and Reagan is a pretty good one to emulate.
But to the point—Reaganomics was a great illustration that if the government was going to intrude into the private sector, then supply side policies were the right answer. Reaganomics provided unseen economic growth for 87 consecutive months: Inflation fell by two thirds, the supply chain remained robust, businesses grew, added jobs and immensely benefited their employees and all Americans.
Bidenomics is demand side policies at their worst.
Because Bidenomics put more money into the economy with no stimulus for businesses to grow, our economy is near ruin as costs rise much quicker than wages. Gas prices remain stubbornly high, the cost of groceries are effecting our families from providing healthy meals, inflation is dramatically effecting home costs and the associated costs of living.
Reaganomics, implemented with the Economic Recovery Tax Act of 1981, encouraged businesses to grow, and as they did they provided more jobs for more Americans. The standard of living outpaced any effects of remaining inflation, even as the Tax Act put more real fiscal growth into the economy. As the economy rose, the benefits to all Americans grew and we all were able to enjoy the increased benefits.
Bidenomics, implemented with the Inflation Reduction Act, has stymied economic growth, particularly for the small and mid size businesses that in today’s economy are the economic drives. But the Inflation Reduction Act snubbed those greatest of these economic assets along with any potential economic expansion. In fact, last week President Biden stated publicly the Inflation Reduction Act had nothing to do with inflation—a shameful admission by someone claiming his economic policies are good for America. Joe, it cannot be both ways, but you wanting to have it both ways is nothing new for you.
Reaganomics helped businesses, employees and all of America enjoy expanding prosperity!
Bidenomics has pulled our entire economy down and has created suffering for every business and their employees. No matter how you call you, Joe, you just can’t put lipstick on a pig.
President Biden, I knew President Reagan, and you are no President Reagan.
