https://www.nationalreview.com/2021/05/biden-is-off-to-a-disastrous-start/
A border crisis, inflation, a distorted job market, a pipeline fiasco . . . yet Biden’s in denial either about the existence of these problems or his role in fixing them.
P residents aren’t supreme beings imbued with the power to dictate economic conditions, pandemics, or international events. We give them far too much credit and blame for the vagaries of the world.
That said, there are some things that presidents do have power to influence. The location of MLB’s All-Star Game, for instance, is not Joe Biden’s bailiwick. This particular economic recovery is. The COVID downturn wasn’t an organic event precipitated by unforeseeable underlying economic factors. It was an event created by state lockdowns, coupled with widespread consumer fear. So, with lockdowns easing and vaccines entering arms, a vibrant economic bounce-back should be a slam dunk for the president.
Instead, Biden couldn’t resist the opportunity to stuff expensive, technocratic, completely unrelated agenda items into his “rescue” packages. And disincentivizing work and investments, threatening to raise taxes and spike energy prices, and pumping trillions into the economy tends to dampen growth.
Economists expected the country to add about 1 million jobs in April, but we came up 800,000 jobs short. March’s gains were also revised down another 140,000. Leftists pundits and wonks, as is their wont when Democrats hold power, were “perplexed” by the bad numbers. And Biden is simply in denial. “There’s been a lot of discussion since Friday’s report that people are being paid to stay home rather than go to work,” Biden explained. “We don’t see much evidence of that.”
There are 7.5 million jobs available in the United States, but only 270,000 were filled. And Americans are getting $300-a-week bonus checks to stay home. As Bank of America economist Joseph Song noted, even those making $32,000 a year would get a raise by going on unemployment. That seems like evidence.
“I want to put today’s job report in perspective,” Biden also explained. “Quite frankly we’re moving more rapidly than I thought we would.” So, Biden expected a bigger-than-800,000 miss on jobs? That’s quite the admission. Does anyone believe this? Former President Obama, who presided over the slowest economic recovery in history, also played this game. His Council of Economic Advisers once predicted his 2009 stimulus bill would create 4.6 percent growth by 2012. It came nowhere close, of course, yet the media kept recalibrating the definition of success. They’re doing it again.