An Affirmative Case

Created
Wed, 06/03/2024 - 03:29
Updated
Wed, 06/03/2024 - 03:29
Economist Dean Baker: Just to quickly point out why some of us would be very happy to see Biden back in the White House, apart from keeping the dictator out, let’s recount the record.  Biden’s recovery act quickly boosted the economy back to full employment. We know Trump has problems with numbers, but employment growth had slowed sharply by the end of his term.  Biden’s recovery package, which passed with zero R votes and over the yells and screams of many Democratic economists, quickly boosted the economy back to full employment.  The bout of inflation we saw was overwhelmingly due to disruptions created by Covid and Russia’s invasion of Ukraine. Our inflation was little different than Germany’s, France’s or even Japan’s.  The media tell us people don’t care about inflation in Germany, they care about inflation here. That’s fine, but if we don’t assume people are morons, they can understand a pandemic can cause inflation, just like it caused mass unemployment when Trump was in the WH.  Biden also pushed through a massive infrastructure bill that is going far towards modernizing the country’s infrastructure. This has been on the agenda forever. Trump gave us dozens of “infrastructure weeks,” Biden gave us infrastructure.  He also pushed through the Inflation Reduction Act, again with zero R votes. This is giving the I.R.S. the resources to crack down on RICH tax cheats (anyone see any jack-booted I.R.S. agents at their door?)  The IRA also put in place a 1.0 percent tax on corporate…