{"id":1840843,"date":"2023-02-09T10:05:47","date_gmt":"2023-02-09T15:05:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1840843"},"modified":"2023-02-09T10:06:55","modified_gmt":"2023-02-09T15:06:55","slug":"dont-make-the-mistake-of-falling-for-joe-bidens-economic-fairy-tale","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dont-make-the-mistake-of-falling-for-joe-bidens-economic-fairy-tale\/","title":{"rendered":"Don\u2019t Make the Mistake of Falling for Joe Biden\u2019s Economic Fairy Tale"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdont-make-the-mistake-of-falling-for-joe-bidens-economic-fairy-tale%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1840843&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/02\/Screen-Shot-2023-02-08-at-7.25.20-AM.png\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>Joe Biden, like Nero brags about rebuilding Circus Maximus following its destruction, took the podium tonight to claim credit for solving a number of problems he created.<\/p>\n<p>His State of the Union address <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2023\/02\/07\/remarks-of-president-joe-biden-state-of-the-union-address-as-prepared-for-delivery\/\" target=\"_blank\" rel=\"noreferrer noopener\">Address<\/a>He boasted that he was a president \u201ccreated more jobs in two years than any president created in four years.\u201d No president \u2014 not Joe Biden nor Donald Trump \u2014 <em>Creates<\/em> jobs. But Biden\u2019s contention was exceptionally misleading, considering he inherited an economy that had been unplugged by an artificial, state-induced shutdown. If the government compels businesses to shutter, it doesn\u2019t \u201ccreate\u201d When jobs are open.<\/p>\n<p>Biden claimed that Covid-19 had closed down the economy on more than one occasion throughout the night. No, states did. Politicians did. <\/p>\n<p>These shutdowns were advocated by Biden. During his 2020 presidential campaign, Biden repeatedly attacked Republican governors who had opened too soon and for not being prepared. <a href=\"https:\/\/www.cnn.com\/2020\/08\/22\/politics\/biden-coronavirus-shutdown\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">Ignoring<\/a> Federal health officials. Even in August of 2021, after it was clear that shutdowns hadn\u2019t saved any lives, Biden was still criticizing Florida\u2019s Gov. Ron DeSantis was criticized for his rejection of a new round Covid authoritarianism. <a href=\"https:\/\/www.nytimes.com\/2021\/08\/03\/us\/politics\/biden-covid-vaccine-delta.html\">Tell him<\/a> To \u201cget out of the way\u201d Many people trying to \u201cdo the right thing.\u201d<\/p>\n<p>Three years ago, unemployment was at <a href=\"https:\/\/www.cnbc.com\/2020\/03\/06\/us-jobs-report-february-2020.html\" target=\"_blank\" rel=\"noreferrer noopener\">3.5 percent<\/a>. Biden reminded us today that the stock market was at an historic low. <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">3.4 percent<\/a>. More than 30,000,000 people <a href=\"https:\/\/www.wsj.com\/articles\/how-many-u-s-workers-have-lost-jobs-during-coronavirus-pandemic-there-are-several-ways-to-count-11591176601\" target=\"_blank\" rel=\"noreferrer noopener\">Their jobs were lost<\/a> Covid lockdowns. Biden claims that he has \u201ccreated\u201d 12,000,000 jobs in the last two decades. One big difference is the fact that the labor participation rate remains unchanged. <a href=\"https:\/\/www.bls.gov\/charts\/employment-situation\/civilian-labor-force-participation-rate.htm\" target=\"_blank\" rel=\"noreferrer noopener\">hasn\u2019t<\/a> The numbers are back to pre-Covid levels. It\u2019s great that people are working again. However, there are millions less people looking for work.<\/p>\n<p>Biden boasted, too, that Americans were seeing. \u201cnear\u201d Hispanic and black workers have experienced historically low unemployment. These historic lows were reached before the Covid lockdowns. So, if Biden deserves credit for this, doesn\u2019t Trump? There is no Biden economic policy which brought us near-historically low unemployment rates for minorities, or a unemployment rate that was 0.1 percent lower than in the previous administration. Washington spent trillions of dollars to prop up an economy it had previously shut down.<\/p>\n<p>Biden also spoke of spending, claiming that the extravagantly named \u201cInflation Reduction Act,\u201d which, you may recall, was first called \u201cBuild Back Better,\u201d This had contributed to a reduction in the spiking of prices.\u00a0Biden began his presidency only after inflation became non-transitory and became a political problem. <a href=\"https:\/\/www.youtube.com\/watch?v=Pj8lLj5EzUQ\" target=\"_blank\" rel=\"noreferrer noopener\">Argumentation<\/a> Inflation could be reduced by spending more. <\/p>\n<p>And only then did Democrats rename their bill, which was crammed with the same spending, corporate welfare, price fixing, and tax hikes \u2014 all long-desired progressive wish-list items. \u201cThe Inflation Reduction Act is also the most significant investment ever in climate change,\u201d Biden stated during his speech, &#8220;As if this sentence was made&#8221;. <em>Any<\/em> sense.<\/p>\n<p>Sometimes, presidents are wrongly blamed for economic events that were not their fault. Inflation is no accident. Democrats invested hundreds of billions in a hot economy (in this instance, the \u201cinfrastructure\u201d bill (with the support of Senate Republicans) and aggravated problems that were foreseeable with policies that\u00a0<a href=\"https:\/\/www.nationalreview.com\/corner\/you-should-definitely-get-a-job\/\" target=\"_blank\" rel=\"noreferrer noopener\">Disincentivize work<\/a>\u00a0Subcut <a href=\"https:\/\/thefederalist.com\/2022\/06\/07\/bidens-latest-abuse-of-power-will-make-energy-more-expensive\/\" target=\"_blank\" rel=\"noreferrer noopener\">energy production<\/a>. This led to the largest inflation rise since 1982. The inflation rate is still at an all-time high. Consumers still rely on a variety of products that are atypically costly. Fears of further price increases have begun to seriously undermine consumer confidence.<\/p>\n<p>Biden lied about that \u201c25 percent\u201d The previous administration incurred most of the national debt. However, the majority of the debt was driven by entitlement programmes that were passed, expanded and cherished by Democrats. He also misled the nation, claiming that his administration had \u201ccut the deficit by more than $1.7 trillion \u2014 the largest deficit reduction in American history,\u201d These are actually the ones \u201ccuts\u201d were sunsetting pandemic emergency spending that Democrats had complained wasn\u2019t enough<em>.<\/em><\/p>\n<p>Biden went into his well-worn platitudes and myths about how the rich don\u2019t pay taxes \u2014 \u201c[n]o billionaire should be paying a lower tax rate than a school teacher or a firefighter!\u201d \u2014 and proposed higher rates on the wealthy and corporations. He also promised to micromanage and regulate the economy, imposing a series of regulations on voluntary contracts between employers and employees as well as consumers and businesses. <\/p>\n<p>Biden pleaded with Congress to pass the <a href=\"https:\/\/www.congress.gov\/bill\/116th-congress\/house-bill\/2474\/text\" target=\"_blank\" rel=\"noreferrer noopener\">PRO Act<\/a>The bill would give the government the power to impose unions on workers and businesses. Biden hawked an entire menu of crude economic populism \u2014 including price controls and protectionist trade policies that would undermine growth,  competition, job creation, and innovation while driving up the cost of virtually every construction project in the country. <\/p>\n<p>There were many lies, half truths, and deceptions. A slew antiquated economic ideas was used and sloganeering was employed. But, surely, the president\u2019s biggest lie of the night was to claim, \u201cI\u2019m a capitalist.\u201d<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  David Harsanyi is a senior editor at The Federalist, a nationally syndicated columnist, a Happy Warrior columnist at National Review, and author of five books\u2014the most recent, <a href=\"https:\/\/www.amazon.com\/Eurotrash-America-Reject-Failed-Continent\/dp\/0063066017\/\">Eurotrash: Why America Must Reject the Failed Ideas of a Dying Continent<\/a>. He has appeared on Fox News, C-SPAN, CNN, MSNBC, NPR, ABC World News Tonight, NBC Nightly News and radio talk shows across the country. Follow him on Twitter, <a href=\"https:\/\/twitter.com\/davidharsanyi\/\">@davidharsanyi<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Joe Biden, like Nero brags about rebuilding Circus Maximus following its destruction, took the podium tonight to claim credit for solving a number of problems he created. His State of the Union address AddressHe boasted that he was a president \u201ccreated more jobs in two years than any president created in four years.\u201d No president &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1840846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[3706,4894,4202,17978,6820,7189,4953,5867],"class_list":["post-1840843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bidens","tag-dont","tag-economic","tag-fairy","tag-falling","tag-joe","tag-mistake","tag-tale"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1840843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1840843"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1840843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1840846"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1840843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1840843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1840843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}