The Wheels Are Coming Off the Biden Economy

U.S. Treasury Secretary Janet Yellen (C) listens to President Joe Biden during a hybrid meeting with corporate chief executives and members of his cabinet to discuss the looming federal debt limit in the South Court Auditorium in the Eisenhower Executive Office Building in Washington on Oct. 6, 2021. Chip Somodevilla/Getty Images

Commentary

A good friend who owns a major auto dealership in the Dallas area recently told me he typically has about 500 to 1,000 cars and trucks on his lot. Now he has 15. That’s how severe the supply chain problem has become.