You’ve heard the saying, “Get woke, go broke.”
Well, that is exactly what is happening to America as President Biden prioritizes woke concerns such as climate change and gender and racial “equity” over sound economic management.
With inflation hitting a spine-chilling record 9.1%, there is fat chance of his know-nothing administration having the competence and know-how to pull us out of this doom spiral.
It’s no accident, either, since Biden deliberately has appointed people who tick the right “diversity” boxes, in terms of their physical appearance, with no concern about whether they are qualified to oversee a $6 trillion federal government.
A staggering new report from the Committee to Unleash Prosperity shows that most of Biden’s top officials have zero experience in business.
Economists Stephen Moore and Jon Decker analyzed the work records and résumés of 68 officials with carriage of the economy and found almost two-thirds have zero business experience, including Biden himself. Just one in eight has what you could call “extensive” experience in business.
Their report, “Not Ready for Prime Time Players,” found that the average business experience of Biden appointees is only 2.4 years and the median years of business experience is a big fat zero.
Experience a minus
Most of Biden’s economic team are lawyers, community organizers, lobbyists, or government employees.
Instead of grabbing the reins of the economy to set things right at a time of crisis, they are preoccupied with big spending programs and woke priorities while working people and small businesses drown.
Starting at the top, Biden and Vice President Kamala Harris both have zero years of business experience, and it shows.
Having inherited an inflation rate of 1.4% when he took office, Biden and his team of geniuses ignored warnings last March that the $1.9 trillion “American Rescue” spending plan would overstimulate the economy at precisely the wrong time.
Morgan Stanley recently attributed most of the rise in inflation to “excessive fiscal stimulus provided during the pandemic, particularly during the last $1.9 trillion package at the end of March 2021 just as the economy was already emerging from the lockdowns. In our view this is what turbocharged consumption and drove inflation to 40-year highs.”
The president has tried to blame Vladimir Putin, Donald Trump, Republicans, COVID-19, the supply chain, oil company executives and gas station owners, everything but his own foolish policies, particularly his green energy agenda.
He and his advisers spent the last year claiming inflation was “transitory,” “temporary,” a “good sign” and even, as his chief of staff Ron Klain suggested, a “high-class problem.” But no one exposed to the real economy was fooled, since every visit to the gas pump or the supermarket told the truth.
“There’s nobody suggesting there’s unchecked inflation on the way,” Biden snapped last July when challenged about an inflation rate which, at that point, was soaring toward 6%.
“I don’t know anybody who’s worried about inflation.”
And that’s the problem.
Barely anybody in his administration understands the economy.
Treasury Secretary Janet Yellen has zero business experience, having spent her life in academia and government. That might explain why she was in denial about inflation for so long, refused to admit the $1.9 trillion stimulus poured fuel on the fire and had advocated more spending and higher taxes in the form of Biden’s $5 trillion “Build Back Better” plan which, luckily, failed to pass Congress or we’d be in an even worse pickle.
Of course, Biden and his partners in delusion, Nancy Pelosi and Chuck Schumer, are still scheming to ram through some version of the plan.
“The cascade of policy and management mistakes that are piling up in the Biden government are at least in part a consequence of lack of basic skills and competency,” write Moore and Decker.
“We want people who know how to cut costs, manage logistics, increase productivity, meet payroll, and make a profit (or in the case of the government, avoid large losses).”
But no such luck with Biden’s crew.
You might think an outfit called The Council of Economic Advisers would have people with business experience, but no. Chair Cecilia Rouse and council member Heather Boushey only have backgrounds in government, nonprofits and academia.
Xavier Becerra, secretary of Health and Human Services, and Alejandro Mayorkas, secretary of Homeland Security, have zero business experience.
The same goes for John Kerry, Ambassador for Climate Change, who is hellbent on “decarbonizing” the economy, but doesn’t seem to understand the consequences.
Shalanda Young, Office of Management and Budget director, has no business experience. Her background is as a congressional staffer.
The same goes for Katherine Tai, US Trade Representative, and Charles Anderson, director of economic policy, COVID-19 Relief Team.
Energy Secretary Jennifer Granholm is listed in the report with two years’ business experience but “has had a hard time with reporters even citing very basic energy statistics [raising doubts over her] familiarity with the critical national energy issues she is overseeing.”
Asked last November what her plan was to increase oil production, Granholm laughed uproariously. “Oh, my God! That is hilarious,” she said.
Pete Buttigieg, secretary of Transportation and former small-town mayor, has four years in business under his belt, but no expertise in transport or logistics to inform his oversight of a $1 trillion industry and complex supply chain problems.
What about Nadiya Beckwith-Stanley of the National Economic Council? No.
Jessica Rosenworcel, chair of the Federal Communications Commission? Nope.
The one shining light is Secretary of Commerce Gina Raimondo, who spent 11 years as a successful venture capitalist.
The contrast is stark with the Trump administration, where the average Cabinet member had 13 years of business experience, more than five times that of Biden’s team, and the median years of experience was eight, compared to the current zero.
Donald Trump had 45 years in business, his Commerce Secretary Wilbur Ross 42 years, Energy Secretary Dan Brouillette 14 years, Small Business Administration administrator Jovita Carranza 18 years, Treasury Secretary Steve Mnuchin 25 years, Secretary of State Mike Pompeo 14 years, Secretary of Agriculture Sonny Perdue 27 years, Education Secretary Betsy DeVos 23 years.
The result was a vibrant economy that lifted all boats. Sadly, the economic sunshine of the Trump years is a faded memory now that the wokesters are in charge.
Dems’ revolving door of Justice
How interesting that far-left Trump-deranged law professor Pamela Karlan was a member of Facebook’s content-moderation oversight board at the precise time when The Post’s bombshell stories about Hunter Biden’s laptop were censored by the tech giant.
Karlan had the gig from April 2020 to January 2021 — in other words, for the duration of the election campaign.
Once Biden was in office, she scored a federal job at the Department of Justice while still drawing a $1 million salary from Stanford University, as Steven Nelson reported in these pages. Nice work if you can get it.
The Surprising Asset You Can Use for Tax-Loss Harvesting
The Top 5 Law Firm Website Design Trends for 2021
Simple and effective ways businesses can become more sustainable