How Biden’s Policies Are Smothering the U.S. Economy

Written by Daniel Roberts.

John Carney, the economics editor at Breitbart, recently appeared on Fox Business’s “Kudlow” show to offer a straightforward critique that might resonate with many Americans: the Biden administration’s regulatory tactics are pulling down the U.S. economy. Carney didn’t mince words; he called it “tyranny by regulation.” This bold statement underscores a growing sentiment that the current administration’s policies aren’t just bureaucratic hurdles—they’re significant barriers to economic progress and innovation.

During his segment, Carney laid out exactly how these regulations are doing more harm than good. According to him, “When you add on giant regulatory burdens onto the private sector, what you end up doing is crushing the ability of businesses to grow, hire people, and for new entrepreneurs to emerge.” He warns that if Biden’s regulatory path continues—especially if reelected—the burden on businesses could quadruple, further strangling economic vitality.

Clash of Ideals: Green Goals Versus Economic Grit

Carney didn’t shy away from pointing out specific policies that exemplify the administration’s controversial regulatory stance, especially those aligning with a radical environmental agenda. He cited new regulations like stringent tailpipe emissions standards and household appliance guidelines intended to cut energy consumption. These, he argued, are based on lofty goals for electric vehicle (EV) adoption and other green initiatives which, in practical terms, seem out of touch with current economic and technological capabilities.

Highlighting the administration’s ambitious target for EVs—to have 56% of cars be electric by 2030—Carney underscored the mismatch between this goal and the lukewarm consumer demand for electric cars. Moreover, he brought up the plight of truckers, citing a Fox Business interview with a trucker who explained how new greenhouse gas regulations are hammering an industry crucial to America’s supply chain. These examples, Carney suggests, point to a significant disconnect between lofty policy goals and the economic realities Americans live with daily, not to mention the inflation that has dramatically increased living costs under Biden’s watch.

Our Take

John Carney’s analysis offers a critical perspective on the economic landscape under the Biden administration. This isn’t just about the growing pains of adapting to new regulations; it’s about a fundamental conflict between the government’s ideological goals and the practical realities of the nation’s economy. As conservatives, we value regulatory measures that ensure safety and fairness, yet it’s vital that these regulations do not become so burdensome that they stifle our collective economic prosperity.

It’s essential for policymakers to find a balance between fostering environmental stewardship and maintaining economic stability. While innovation and responsibility towards our planet are commendable and necessary, they shouldn’t lead to economic stagnation. The current administration needs to recalibrate its regulatory approach to encourage growth and adaptation, ensuring that American businesses and workers aren’t left to shoulder the burden of rushed or ill-conceived policies. As the 2024 election nears, it’s clear that these economic issues will be front and center, likely influencing voter decisions based on their personal and national economic concerns.

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