When he became President Obama, he said that he wanted to fundamentally change the United States. His economic plan managed to increase the median family income by $3,200 over an eight-year period while at the same time increasing the number of people living in poverty by 787,000. When Joe Biden became president, he said that he saw it as an opportunity, “fundamentally transform the country.” The result thus far has been that the average American family has lost between $5,600-$7,000 in income in only two years (Heritage.org 4/21/23).
Compare this to 2018, when under President Trump incomes went up $4,600; an increase in one year that was forty-five percent larger than during the eight years of the Obama administration. How was that possible?
Perhaps asking “how was that possible” is the wrong question. One might better ask, “what did Presidents’ Obama and Biden do to basically wreck a system designed and historically capable of incredible growth and wealth creation.” Could it be that they did not understand the basic system of how the economy works? Could it be that were ignorant of past presidents who had led successful economies? Could it simply be that they believed they were smarter than anyone else? Somehow those who talk about being on the “right side of history” seem to ignore the lessons of history. Or, maybe it is just human nature; having winning such high office is like becoming a king, the new President has a burning desire to show his brilliance by doing something bold and daring.
We must ask ourselves if these two presidents actually believe that more government regulation, more government control, more deficit spending and now, inflation will lead to greater prosperity Are we to believe that suddenly, a top-down centralized planned economy is going to be better for its citizens when there has never been a successful society based on those precepts? Oh, I know, “it will be different this time.”
The two articles linked below offer not only a history of recent results but also solutions to correct our current problems. Dare we hope that we have leaders who will own up to their mistakes?
