Do you wonder why so many of President Biden’s policies end up hurting our economy? The policies seem to be lacking in common sense business principles. The Committee to Unleash Prosperity recently released a report by Stephen Moore and John Decker that highlighted the absence of business experience in most Biden appointees.
“Based upon a survey of the top 68 officials in the Biden administration, which included the President, cabinet members, regulatory officials and White House advisors the results were as follows:
*62% of Biden appointees who deal with economic policy, regulation,
commerce, energy and finance had virtually no business experience.
*Only 1 in 8 had extensive business experience.
*Average business experience of Biden appointees is only 2.4 years.
*Median years of business experience is zero.
*The vast majority of the Biden economic/commerce team members
are professional politicians, lawyers, community organizers, lobbyists
or government employees.”
As a comparison, the average Trump cabinet member had 13 years of business experience and the median years of experience was 8.
We are dealing with enormous economic issues in our daily life. In the past year, we have seen a dramatic rise in inflation that has severely impacted the pocketbook of most Americans. We have witnessed a rise in the number of people who no longer participate in the workforce.
We have seen an open southern border that will eventually depress the wages of those Americans at the lower end of the socioeconomic ladder.
We have witnessed an explosion of federal spending that has stoked the inflation fire that seems to be burning out of control. We have seen a gigantic increase in our national debt that is beginning to impact the interest rate that new home purchasers have to pay.
It is not surprising to see the economic catastrophe of the past two years when you realize the dearth of business experience of Biden’s appointees. College professors are wonderful people but rarely do you see them running a major business. Professors and community organizers may have extensive book knowledge but they often lack the real-world experience that is so important in running a business or an economy.
Unfortunately, we must endure another 2 years of Biden’s team running our economy. Let’s hope we survive and find an alternative in 2 years who can put some business leaders back in charge of the economy.