Joe Biden has become America's "it's not my fault" president. Whether it's the inflation, the border, the crime, the gas prices, the Afghanistan exit fiasco or the stock market collapse, Biden has become an expert at pointing the finger at someone else.
Commentary By Stephen Moore
Most Recent Releases
Last week, I was invited to testify before a House committee hearing titled: "How the Biden American Rescue Plan Saved the Economy and Lives." I am not making this up. Can you imagine taking a victory lap, given our current conditions?
I've been struck by the opinion divide on the state of the economy between people with real jobs in America and the elite opinions in Washington.
With President Joe Biden's Build Back Better agenda in ruins, Democrats want to blame Big Business for the mayhem of high inflation and a collapsing stock market.
In this administration, it's always someone else's fault. Inflation is now the No. 1 concern of voters, so the White House first blamed COVID. Then Donald Trump's tax cuts. Then Vladimir Putin. Then meatpackers and the poultry industry, Big Oil and pharmaceutical companies.
The evidence shows that school closures during COVID were an epic public policy blunder. The school lockdowns in many states were arguably the most significant episode of government-sponsored child abuse in American history.
Washington never learns. Never. Politicians are like collective Alzheimer's disease patients. They have no short-term memories.
It might be the biggest giveaway in American history. President Joe Biden wants to cancel more than $1 trillion of outstanding student loan debt. Biden has already delayed for more than a year student loan repayment, and under his new rules, most delinquent and deadbeat borrowers would NEVER have to repay.
You've probably heard of the high-flying Big Tech FAANG stocks -- Facebook, Amazon, Apple, Netflix and Google. Among the five of them, their market cap reached $6 trillion last year, which is more than the GDP of all but a small handful of entire countries. Moreover, their net worth is larger than the entire annual output of India, with more than 1 billion people.
Once upon a time, the mantra of the libertarian Left was "keep the government out of the bedroom."
I guess you could mark me down as a "climate change skeptic." I'm not a climate scientist, so I have no expertise on what is happening with the planet's temperature or severe weather events that can wreak havoc on life and property.
For many years now, there has been a spirited debate about whether climate change is science, religion or even perhaps a secret route to socialism. That question remains unanswered, but we've now discovered with certainty that climate change is a political albatross around the neck of the Democratic Party.
With $30 trillion of debt -- which has grown by $5 trillion in just the last two years, with another $2 trillion of red ink expected to get spilled this year -- you might have expected Congress at least to pretend it will temper its reckless spending proclivities.
We live in a strange world. John D. Rockefeller, the founder of Standard Oil, helped provide the energy that powered the American century beginning in the early 1900s. Today, his grandchildren spend the billions of dollars that he donated to the Rockefeller Foundation to attack the same oil and gas industry that he almost single-handedly built. Likewise, Henry Ford's trust, the Ford Foundation, now spends millions of dollars on climate change -- as if the automobile was a sinister invention.
To quote a screaming John McEnroe: You cannot be serious!
What if two years ago, when COVID-19 first hit these shores, our politicians hadn't panicked?
Today, two years after COVID-19 first hit these shores from China, most studies confirm that the heavy-handed government lockdowns of businesses, restaurants, schools, churches and parks did more harm than good to our health and well-being.
I'm the kind of guy
Who never used to cry
The world is treatin' me bad
Misery -- The Beatles
The tally for how much the federal government spent to combat COVID-19 is now estimated to be $5 trillion. It is more than the combined costs of World Wars I and II. The left is celebrating that politicians in Washington saved us. Really? From what exactly?
When I came to Washington, D.C., in 1985, Ronald Reagan was president. I was working for the Reagan budget office. We did something we weren't very proud of at the time. We introduced the first $1 trillion budget in American history, which was unthinkable. One trillion dollars. There are 12 zeroes in a trillion. A trillion is a million dollars times a million. The budget deficit hit $200 billion and 6% of our entire GDP. Again, unthinkable.