Mark Mellman's misperception of Bidenomics

People's perception of Bidenomics and Trump's pre-COVID economy is often determined by the color of your collar. If you're a blue-collar worker, your perception of Bidenomics likely isn't positive. If the color of your collar is white, your perception of Bidenomics is likely to be slightly more positive.

Mark Mellman wrote this op-ed to describe his perception of the differences between Donald Trump's economic policies and Bidenomics. The second paragraph of Mellman's op-ed says "But there’s little question that’s how Americans currently see it. A CBS/YouGov survey in March found 65 percent saying the economy was good under Donald Trump, but only 38 percent said the economy has been good under President Biden." This isn't that difficult to understand. Donald Trump cut taxes, increased energy independence, cut regulations and negotiated job-producing bilateral trade agreements.

Thus far, Biden's administration hasn't negotiated a single trade agreement. Instead, they've increased economic burdens on businesses through excessive regulations to the tune of $1,600,000,000,000 in 3+ years (compared with $303,000,000,000 in Obama's 8 years while Trump's administration lifted $160,000,000,000 in economic burdens in 4 years).

Trump cut taxes for everyone, not just 'the rich', which led to low inflation, higher take-home pay. That helped families increase savings significantly. In short, people weren't living paycheck-to-paycheck. They were starting to build generational wealth while they lifted themselves out of poverty.

Democrat Spin

On job creation, Joe Biden is the undisputed champion. Trump lost 2.7 million jobs during his presidency. If you exclude the COVID months, he created 6.7 million jobs. But regardless of which Trump figure you prefer, the 15.4 million jobs created by President Biden has crushed Trump’s meager results.

Joe Biden hasn't created that many jobs. Most of the jobs Biden claims were created were just restored after the pandemic shutdown. Most of those "15.4 million jobs would've been restore just by re-opening the economy. This segment is rather informative:

Less than a minute into the video, it's reported that Biden has been a regulations nightmare while Trump actually cut regulations. Regulations create unproductive work for entrepreneurs while taking time away from innovation, economic expansion and improving profits for owners while improving benefits and wages for workers. This is misleading:

Even excluding the pandemic, GDP growth averaged 2.56 percent under Trump, while under Biden, annual growth is averaging 3.45 percent. Again, advantage Biden.

Trump's GDP is hurt because the economy was shut down for 6 months at the start of the pandemic. Further, Biden's first year was assisted by the economic growth that was started in Trump's administration. Additionally, the first 2 quarters with Bidenomics policies were negative -- negative 1.6 and negative 0.9 GDP. After the trillions of inflation-creating funny money was dumped into the economy, GDP growth is relatively easy. GDP growth with high inflation isn't what people want. Families want steady economic growth with little inflation.

Summarization

Bidenomics has produced economic volatility and high inflation. Steady growth and no inflation is what the American people want right now. That won't get achieved with Bidenomics.