A failed attempt to understand ‘Bidenomics’

By Richard Blakley

In a 1987 briefing, then-Sen. Joe Biden verbally attacked a reporter, stating that he went to Syracuse University on a full academic scholarship, graduated in the top half of his class, was the outstanding political student, earned three degrees and had a much higher IQ than the reporter to whom he was speaking. This interaction is at 2 minutes and 50 seconds into Jesse Watters’ Fox program or at one of several other locations.

While Biden’s comments were meant to intimidate and belittle the reporter, this did not prevent honest mainstream investigative reporters of 1987 from seeking confirmation of the senator’s statements. They determined that Joe did not go to college on a full academic scholarship, did not graduate in the top half of his class, but instead graduated 76 out of 85, which means he was in the bottom half of his class, was not the outstanding political student and did not earn three degrees, but graduated with one. The only thing left to consider is Biden’s comment about his IQ, which I think speaks for itself. How could you miss on this many things? Note that this was before he was senile.

My question is, “When Biden went to school, did he take an economics course, or maybe at least a math class?” Basic economics or at least math instruction are important for reading bank statements and balancing deposits and debts. Any CEO understands that the goal is to grow the company, employ more people and expand the business. This is done through making profits. This is good economics for our country in general. People who run businesses understand this, like President Donald Trump, who has run businesses all his life.

“Bidenomics” are different. The day Biden was sworn into office, he busily signed executive orders to undo the economic gain President Trump instigated. One example is the Keystone XL Pipeline. In December 2022, Biden’s administration published a congressionally mandated report highlighting benefits of the pipeline, if he had not revoked its federal permits. The pipeline would have delivered 830,000 barrels of crude oil per day to the U.S., and gas prices today would probably be $1.50 per gallon or less. According to the administration’s report, revoking the permits cost between 16,149-59,000 well-paying jobs and had a negative impact of $3.4-9.6 billion dollars on the U.S. economy. This was just one of Biden’s economic disasters.

To compensate Biden’s plan is to burn $5 trillion on the Green New Deal. Instead of jet-fueling the economy, this plan is debt-fueled. By February 2021, economists stated the plan is “a word-for-word reprise of the failed Obama green energy-climate program distinguished only by its order-of-magnitude increase in spending, scope, and level of hysterical amplitude.” Again, this is $5 trillion in government spending, not revenue. Biden is spending $5 trillion, driving the U.S. further into debt, while destroying U.S. industries.

By spring 2021, Joe, facing failing economic policies, implemented the flawed window breaker philosophy (breaking windows to stimulate economy). What kind of scenario is that? Old-school, delusional politicians say, “War is good for the economy.” At a U.S. weapons manufacturing plant, Joe stated, “Being the arsenal for democracy also means good paying jobs for American workers,” so obviously Joe is a “window breaker” and applies this to foreign policy.

For example, Bidenomics was applied when Biden pulled U.S. troops from Afghanistan, leaving enormous amounts of U.S.-made and funded equipment. Forbes magazine reports the U.S. provided $83 billion worth of training and equipment to Afghan security forces since 2001. Fox News reports $7 billion worth of military equipment was left. The BBC reports on specific equipment left behind. These included 70 mine-resistant ambush protected vehicles (MRAPs), quoted at $500,000-$1,000,000 each, 27 Humvee all-terrain military vehicles, who knows how many counter-rocket and defense systems, 43 MD-530 helicopters, 33 UH-60 Black Hawk helicopters, 32 Mi-17 helicopters, 33 C-208/AC-208 airplanes, 23 A-29 light attack planes, and 3 C-130 Hercules airplanes.

I have a question. Why didn’t all the airplanes just fly out? C-130s can carry 42,000 pounds of cargo, which could have included all the U.S. allies that were left on the tarmac.

Now let’s think about this. American manufacturing gears up, hires people, makes weapons, gets paid through government contracts, and then the government gives equipment away. There seems to be a flaw in this economic plan. Without selling the final product, you drive your economy into a ditch, or worse, over a cliff, due to unsustainable debt, which causes banks to fail.

Was this situation in Afghanistan a one-time mistake for Biden? Since the Ukrainian war, the U.S. has given between $99 and $113 billion to fund Kyiv’s war effort. It is true that a small part of this (5%) is in humanitarian aid, but then there is $26 billion in financial aid. What’s that about? Next, we get to more Bidenomics. Somewhere around $46 billion of this is in military weapons. So, Biden thinks that being the “arsenal for democracy” means “good paying jobs for American workers,” by companies being paid by government contracts, yet the government gives away the product, leaving our government in debt, causing taxes to increase to pay the debt. What could possibly be wrong with that economic plan? Any company doing business in this fashion would realize that soon you are going to be hanging an “out of business” sign on the door.

If Syracuse Law School doesn’t require Economics 101 for law students, it needs to reconsider. At least have them take a basic math class, because one of their graduates thinks he has a high IQ, yet doesn’t understand enough basic accounting to balance his checkbook, or the checkbook of the federal government.

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