The ‘Booming’ Biden Economy That Isn’t

The ‘Booming’ Biden Economy That Isn’t
President Joe Biden speaks at Arcosa Wind Towers in Belen, N.M., on Aug. 9, 2023. Jim Watson/AFP via Getty Images
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Commentary

The Biden administration is praising the one-year anniversary of the misnamed Inflation Reduction Act for creating a “booming” economy. Treasury Secretary Janet Yellen referred to the law as “the boldest climate action in the nation’s history.” She praised the redirection of hundreds of billions of dollars each year to address “climate change’s destabilizing effect on our planet and on our way of life.”

Robert Genetski
Robert Genetski
Author
Robert Genetski is a public speaker, author, columnist, and one the nation’s leading economists. He has taught economics at the University of Chicago’s Graduate School of Business and NYU. His latest book is “Rich Nation, Poor Nation: Why Some Nations Prosper While Others Fail.” Genetski’s website is ClassicalPrinciples.com.
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