Bidenomics Bust

Bidenomics didn't work after all:

The springboard for Victoria Guida's report was a lengthy article published last week in Foreign Affairs, written by Jason Furman, chair of President Barack Obama's Council of Economic Advisers during his second term. Guida interviewed Furman about his piece titled "The Post-Neoliberal Delusion And the Tragedy of Bidenomics." “On infrastructure, [Biden's] program has basically been a failure,” Furman told Guida. “A huge amount of money flooded into it. In some ways, it made it even harder to build with the number of requirements put on programs.” “All of this drove up costs so much that the money that got spent was basically swallowed up by the higher costs, and then a lot of the money hasn’t even been spent.” It isn't clear whether Furman was referencing Biden's bipartisan infrastructure law — the 2021 Infrastructure Investment and Jobs Act — a $1.2 trillion beast that spread around enough pork to lure 19 GOP representatives and 13 GOP senators into voting for it. Shame on them, by the way. Or maybe Furman meant Biden's misleadingly named Inflation Reduction Act, another trillion-dollar boondoggle that was A) inflationary and B) the Green New Deal Lite in drag. Even Biden admitted as much to the latter, if belatedly.

It never worked as advertised...