Joe Biden Waits Until One Year Before Presidential Election To Introduce Economic Plan/Philosophy.
Fear not, poor and working class people of America: President Joe Biden has a economic strategy to save you! Of course it took serving around 40 years in Congress and as Vice President to come of with it, but better late than never, right?
First is an admission about an economic model the country has been under since the 1980's:
“Folks, let me say it as clearly as I can: (The) trickle-down approach failed the middle class and failed America,” said Biden.
Dubbed "Bidenomics," it has (according to CNN) 3 key principles: "Making public investments in America," "Empowering and educating American workers," and "Promoting competition." Here's my humble take on this:
- Making public investments in America. While putting money towards infrastructure (like he promised during his campaign) is nice, working people don't just need "investments;" they also need money. A few round of stimulus checks would work just as well. And making more high-speed internet is nice, but it needs to be cheaper and regulated (two things strangely absent here).
- Empowering and educating American workers. It's hard to know what future jobs to invest in when there's little sense of forecasting. Nobody during or in the Clinton Administration knew that the internet would lead to something like monetizing YouTube videos, what evidence is there that Biden's people know what to expect in the next 10-20 years? More importantly, witnessing the Democrats action (or lack thereof) during the railroad worker strike pretty much shows how Biden & Co. feel about unions.
- Promoting competition. Nothing in here about splitting up "Too Big To Fail" type companies ala Ma Bell; anything less than that is basically lip service.
In short, this comes across as some outdated rebranding effort that will only work on party loyalists. No one can seriously use the talking points the Biden Administration plans deriving form this to convince working class people that Bidenomics will make their lives better.
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