In recent times, Americans have begun to clamor for a stall in government spending because of its eventual effect on the nation’s economy. A few days ago, the White House’s report card was released.
The details of the report card show Biden struggling, amid an inflation surge which undermines all the gains of the Biden-led administration in the past few months.
According to @JoeBiden, America is in an economic war with #China. The more government burdens the U.S. economy with spending, including the bipartisan #infrastructure bill, the more likely we are to lose. The real war is between the American people and the Federal government.
— Peter Schiff (@PeterSchiff) June 24, 2021
What the White House Report Card Details
According to the White House report card, which was released by Washington Examiner, graders of the report card attest to Biden struggling to reduce the inflation rate. However, they were divided about the performance of Biden’s administration in the last week.
Jed Babbin, a conservative analyst, scored Biden’s administration a D in terms of spending. This is because of Biden’s claim spending so much would reduce inflation, but this is yet to be the case in recent times.
On the other hand, John Zogby, a Democrat pollster, has given Biden an upper credit because of his recent delivery on infrastructure money and an increase in the employment rate.
He, however, gave the current administration a B- because the inflation rate in the country seems to be pulling back all the progress Biden might have made since his emergence into power.
What the Report States About America’s Economy
The last week has been an amusing one for Biden’s administration. What is more amusing is those directly affected by the inflation surge, border crisis, and having their families stuck in Afghanistan have no hope of a better life, due to the folded hands of the current administration.
Recently, John Kerry’s climate change envoy proved to be indifferent about Uyghur slave labor used to generate Chinese solar panels. However, he was quick to sign an agreement with the Chinese government on reducing carbon dioxide in both nations.
Kerry’s reason is that a major source of carbon dioxide generation in America is the coal plants that produce electricity for the nation. While stating such plants would be halted in the year 2030, Kerry didn’t comment on the alternatives for the coal plants to generate electricity.
🚨🚨🚨 NEW from Chairman @RepJimBanks:
The only thing Joe Biden, Nancy Pelosi, & Democrats in Congress will be “building back better” in their massive tax and spending bill is China’s economy.
— RSC (@RepublicanStudy) November 5, 2021
John Kirby, a Pentagon spokesperson, has commented that China and climate change are the two core cankerworms sinking the American economy. What he doesn’t know is contrary to Biden’s claim about the infrastructure program reducing the rate of inflation, it is his frivolous spending that’s dampening the economy.
In the same vein, Biden’s National Economic Council expressed that the supply chain crisis is good for America’s economy. His reason is it means Americans are spending more on goods and services after the COVID-19 lockdown.
The error in his assertion is that average Americans can’t purchase things stores and marts don’t have. How then does this favor the American economy?