Lack of business experience in Harris-Biden inner circle contributes to American economic distress
During her only interview of the presidential campaign, Kamala Harris stated that she is “very proud” of the economy that she and Joe Biden have managed for almost four years.
Her positive view of their management of inflation aligns with Biden’s claims about their performance, despite the struggles Americans face with rising costs.
“I’m very proud of the work that we have done that has brought inflation down to less than 3%,” Harris told CNN recently.
However, starting with an inflation rate of 1.4% when they took over, their spending led to a peak of 9.1% in June 2022, making it a less than ideal accomplishment.
Biden and Harris ignored warnings about the $1.9 trillion “American Rescue” spending package potentially causing economic issues as the country emerged from lockdowns in March 2021.
Their actions fueled consumption and resulted in high inflation rates.
Despite this, Harris refrained from labeling Bidenomics as a “success” when prompted.
“There’s more to do,” she acknowledged. “But that’s good work.”
Her future plans remain unclear, as she lacks specific policies on her website and avoids traditional interviews, relying on friendly journalists to downplay controversial ideas.
However, the policies she has hinted at, such as price controls and housing subsidies, are concerning.
In her brief CNN interview, Harris vaguely mentioned an “opportunity economy” as her priority on day one.
An analysis by the Committee to Unleash Prosperity reveals that many of the administration’s economic officials lack business experience.
The report highlights the inadequacies of key officials and the potential impact on the economy.
It suggests that a Harris presidency may continue anti-business policies seen under Biden, potentially worsening the situation.
Various administration officials have failed in their respective roles, from faulty infrastructure projects to mismanagement of critical issues.
The administration’s focus on progressive social policies rather than economic growth raises concerns for the future.
While there are exceptions, such as officials with extensive business backgrounds, the overall lack of business experience among key personnel is alarming.
The administration’s priorities and actions indicate a shift towards wealth redistribution, higher taxes, increased regulation, and climate-centric policies, signaling a challenging economic future under a potential President Harris.
Public sentiment reflects concerns about the economy’s direction, with little optimism if Harris assumes office.
