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Originally Posted by Inner Dirt
Biden's accomplishments are a figment of your imagination, that is why they do no reflect in polling numbers. He had nothing to do with "creating" jobs.
Those were all people returning to work from Covid furloughs, and that was allowed by the Governors of the states they themselves shut down, nothing to do with Joe Biden. Do you seriously believe all the lies and misinformation you pass on? Where do you get average wage up $3.66 an hour, that just strangely got zero Goggle hits just now on my end. Even if it is up that much it is from the McDonald's of the world having to over pay
to get people to flip burgers that were previously collecting free money.
Funny how you credit Biden with lowering inflation, while holding him blameless for causing it. Are you for real?
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Here is a link to an article that explains it much better than I can.
https://www.noahpinion.blog/p/bidenomics-explained
Notice, that the article was written Apr. 4, 2021, yet everything in it is prescient.
This explains the three pillars of Bidenomics.
The Biden program is multifaceted — it includes things like support for unions, environmental protection, student debt cancellation, immigration, and a bunch of other stuff. But it would be wrong to characterize his program as merely a grab bag of long-time Democratic policy priorities. Three approaches stand out above the maelstrom:
Cash benefits
Care jobs
Investment
Cash benefits were at the center of the COVID relief bill that already passed. In addition to the standard COVID relief items (quasi-universal $1400 checks, special unemployment benefits, housing and medical assistance, etc.) there was a very big program that is officially temporary but which will probably be made permanent: A child allowance. It’s very big in size — $3000 to $3600 per child. There’s no time limit and no work requirement. It’s basically a pilot universal basic income program for families.
The second pillar of Bidenomics is care jobs. The new “infrastructure” bill includes tens of billions of dollars a year for long-term in-home care for disabled and elderly people. Biden has made it explicit since early on that he intends to make caregiving jobs a pillar of his strategy for mass employment.
The third pillar of Bidenomics is investment — government investment, and measures to encourage private investment. The former includes tens of billions a year in new research spending, massive construction of new green energy infrastructure like electrical grids and charging stations, retrofits of existing infrastructure (e.g. lead removal from pipes), and repair of existing infrastructure like roads and bridges. This will help restore government investment as a fraction of GDP, which has been drifting downward for decades:
This is not just about government spending; much more than that, it’s about private investment. Private investment directed for the public good.
From the article.
the administration isn’t relying entirely on direct government action to lift investment — not by a long shot. First of all, infrastructure is a complement to private investment; repair roads, and private businesses will buy vehicles to take advantage of those roads. Government research is also complementary to private investment — there’s a clear pipeline from government-funded labs to privately-funded product innovation and the investment that goes with it. And finally, Biden’s clean electricity standard for the power sector, which will force all U.S. electricity to be carbon-free by 2035, will require huge private investment — in solar, wind, storage, hydro, and nuclear.
Note how little of this investment program relies on indirect investment incentives like capital gains tax cuts or depreciation allowances. Bidenomics doesn’t just turn the knobs and hope that useful investment comes out — it actively directs investment into particular sectors (green energy) and particular activities (science).
And: Bidenomics: Creating a two-track economy
Before I go on to discuss the justification for this new paradigm, I’d like to sum up all these “pillars” into one more-or-less cohesive vision of where I think Bidenomics is taking us. I think it’s aiming to create a two-track economy — a dynamic, internationally competitive innovation sector, and a domestically focused engine of mass employment and distributed prosperity.
You really should read the whole article. Try to put aside your biases and ignore the propaganda you have been receiving for so long.
I will provide a link regarding the hourly wage. I will respond regarding Biden’s alleged dementia and I will talk about who or what caused the inflation Biden is fixing.
