The inevitable Biden Recession

When he took office, Joe Biden inherited a strongly growing economy, a secure border, 3 COVID-19 vaccines and inflation that sat at ~2%. We'd just achieved energy independence and we were exporting oil and natural gas for the first time in our history. Just 9 months later, the Tex-Mex border is functionally open. Inflation is eating wage gains and gas prices just hit a 7-year high.

Kristin Tate's op-ed provides a blueprint for why the Biden/Democrat recession is inevitable. Tate wrote "Three main issues likely will plunge the country into economic backsliding and spark stagflation by the end of 2022: inflation, supply chain issues, and an unraveling labor market." I'd add that passing the reconciliation bill will kill the economy because of the tax hikes contained in the bill.

This chart shows how inflation is already hitting this economy hard:

Inflation is a problem because, in part, of the labor problems. The labor market is screwed up because Biden and the Democrats decided to people more to stay home from work than to work. Then the Democrats decided that quietly instituting a scaled-down version of UBI (Univeral basic income) was the right thing to do. That provided additional incentives for people not to work. With lots of money being spent on fewer goods, inflation and slowing economic growth were the predictable outcomes. When the Biden Recession hits, all fingers of blame should point directly at Joe Biden, Nancy Pelosi and the Democrats who pushed for these policies.

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