By Noah Rothman
Tuesday, December 17, 2024
It’s probable that the authors of Joe Biden’s farewell
op-ed published this week in the American Prospect designed it for the exclusive
consumption of the American Left. No one else would believe the fantastical
propositions in the piece or the questionable assumptions that contribute to
Biden’s claims of managerial competence.
If the president is once again leaning on progressives to
salvage a legacy he has badly fumbled, it’s an odd strategy. It makes sense
only if we assume, as we probably should, that the Obama-Biden intellectual
project is exhausted, and that what we’re observing is only the braindead
“Lazarus sign” reflex emanating from this presidency’s corpse.
Biden admonished readers who thoughtlessly expected to
see their economic conditions improve under this administration. It will “take
years to see the full effects” of his policies, the essay promises. You see,
all the good stuff is backloaded. But, as the author repeatedly stressed,
building “the economy from the middle out and bottom up,” a new economy that
dispenses with “a failed approach called trickle-down economics,” is a complex
undertaking. So complex, in fact, that the president himself doesn’t seem to
understand it.
Biden tickled progressive erogenous zones by repeating
the words “invest” and “investment” like a mantra. Indeed, the op-ed boasted,
the legislation passed in Biden’s first two years marks “the most significant
investment in the United States since the New Deal.” It was stimulus the
already overheated American economy couldn’t painlessly absorb. Team Biden even
has the gall to admit that the “Inflation Reduction Act is the largest single
investment in clean energy in the history of the world.” For those of us who
know what inflation is, that sentence contains a contradiction. It’s telling
that Biden thought it was one he didn’t have to address given his intended
audience.
The president seemed to often assume the ignorance on the
part of his readers. He mourned a status quo he inherited in which the fruits
of American innovation are shared all the world over: “Scientific discoveries
and inventions developed in America were commercialized in countries abroad,
bolstering their manufacturing instead of ours.” By “commercialized,” we must
assume he means American-designed goods being manufactured abroad, which is a
convoluted way of describing comparative advantage. Biden can (and did) go to
war with elementary economics if he likes, but he’s not unaware of the
inducements that lead to the conditions he’s denouncing.
In promoting the CHIPS act, which seeks to create a
domestic semiconductor industry from whole cloth, Biden touted the output from
three Taiwanese-owned TSMC chip plants in Arizona: “America will be the only
economy in the world to have all five of the most advanced semiconductor
manufacturers in the world operating on its shores.” This is the same
phenomenon. The only difference is that Biden seems to like it when Americans
are manufacturing products innovated abroad — an economic step backward that is
obvious to all who haven’t romanticized America’s industrial past.
“I fought hard to secure an investment in modernizing the
IRS that is already paying off. The IRS is already collecting over a billion
dollars from wealthy tax cheats,” Biden insisted. Indeed, taxes went up, but government receipts went down. So, too, did private sector labor union membership over the course of
Joe Biden’s presidency, despite his vigorous efforts to support unions in
rhetoric as well as (blessedly failed) legal schemes designed to make it harder for workers to
avoid unionization. The president even insisted that he had measurably reduced
consumer costs. How? By allowing Medicare to fix the cost of certain drugs and
opening America’s Strategic Petroleum Reserve to temporarily drive down gas
prices.
From beginning to end, the op-ed is a sop to the
progressives Biden assumes will write the history books. But if the reporting
on Biden’s first few months in office is accurate, those historians themselves
contributed mightily to Biden’s failed presidency. The whispered seductive nonsense in Biden’s ear about how his
victory — though it was narrow and in a year when Republicans expanded their
House majority — paved the way for him to become the next LBJ. And this gave
Biden license to indulge his ego. The president should have recognized his
error early on, but he never did. For the remainder of his presidency, Biden
was led by the progressives rather than the other way around.
Within months of taking office, the president surrendered to the unrepresentative,
exceedingly online activist class he had defeated in the 2020 primaries. He
never passed up the opportunity to engage in racial agitation even when the
facts and prudence should have militated against it. His efforts to sell the public on the
Build Back Better agenda — initially, a $4 trillion monstrosity with grand
ambitions to reengineer the whole American social compact along progressive
lines — landed as flat as did his efforts to pitch “Bidenomics.” The failed
ideological paradigm encapsulated by the word “equity” put an egalitarian gloss
on a radical program designed to redistribute economic and social goods based
on accidents of birth. The Constitution put a stop to that, but it couldn’t prevent
Biden from using Title IX regulations to restore the conditions that deprive
young men on campus of their civil rights. Biden even innovated a new Title IX
injustice by using it to allow men to compete in women’s sports.
Even in the twilight of Biden’s political career, when
his fate was known to all but the president himself, the president and his team
expected the progressives to save him. Within a week of the disastrous debate
performance that rendered Biden a walking political cadaver, the president suddenly rediscovered the Left’s desire to pack the Supreme
Court with pliant Democratic justices — a change of heart supposedly inspired
by an article that left-wing law professor Laurence Tribe published in the even
more left-wing British media venue, The Guardian. The true motive — the
transparent one — was to use progressives as a cudgel to silence the Democratic
establishmentarians calling for Biden to cede the presidential nomination. The
strategy worked, insofar as it convinced the Left’s political celebrities — Bernie Sanders, Alexandria Ocasio-Cortez, and others — to
support Biden. But the strategy ultimately failed to save his presidency for
the same reason deferring to the Left from 2021 ruined it: Biden massively
overestimated the influence and popularity of his party’s progressives.
It’s the same mistake, over and over again. Perhaps Team
Biden kept making it because they bought into the Left’s hype, or maybe they
were so lethargic and unimaginative that they couldn’t conceive of an
alternative approach. In either case, the president should not expect anyone,
much less the progressive Left, to salvage his legacy.
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