This article originally appeared on Fox Business on August 25, 2020.
During his recent acceptance speech at the Democratic National Convention, Democratic presidential nominee Joe Biden touted his “economic plan” as being “all about jobs, dignity, respect, and community.”
As wonderful as it sounds, there are serious problems with both Biden’s memory and his would-be utopia.
Biden failed to propose a single plan to encourage private-sector job growth. Rather, his plans involve massive government spending supported by onerous taxes and a burdensome regulatory environment.
It’s the Obama/Biden economic plan redux, only Biden would put that failed plan on steroids.
The result would be a return to an era when workers faced stagnant wages, competed to fill a limited number of job openings, and dropped out of the labor force when they were unable to find one.
You don’t have to be Nostradamus to predict this result. You just have to compare the Obama/Biden economy and the Trump economy.
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