"I don't know what the hell that is, but it's working," Pedo Joe bellowed at a June 17 union rally in Philadelphia.
What, exactly, is Bidenomics? According to a statement from the White House, it involves three pillars:
1. Developing a massive "smart" grid across the country to be powered by "renewable" energy and semiconductors.
2. Providing unrelenting support for unions and domestic manufacturing.
3. Promoting competition whenever and wherever possible.
"Our economy has added more than 13 million jobs – including nearly 800,000 manufacturing jobs – and we've unleashed a manufacturing and clean energy boom," the Biden White House boasted about Bidenomics.
(Related: The Bidenomics plan involves shutting down the U.S. power grid in order to achieve absurd climate goals that will absolutely destroy the national economy.)
In 2022, the Biden regime passed the CHIPS Act, also known as the Creating Helpful Incentives to Produce Semiconductors and Science Act, which allocates $280 billion in federal spending to bolster the manufacturing of semiconductors here on U.S. soil rather than in places like China and Taiwan.
Then we have the Infrastructure Act of 2021, which allocated more than $65 billion for so-called "clean energy" projects, followed by the 2022 Inflation Reduction Act, which funnels another $394 billion into clean energy in the form of tax incentives, loans, and grants.
"I would define it as trickle-down big government," stated Jonathan Williams, chief economist of the American Legislative Exchange Council, likening Bidenomics to the Reaganomics of the Ronald Reagan era.
"The common thread of this administration has been growth and expansion of government power, and certainly big government spending."
In other words, Joe the "big guy" believes himself to be the next Ronald Reagan, even going so far as to steal his famous "Reaganomics" trope and claiming it as his own.
According to National Security Advisor Jake Sullivan, Donald Trump and other past presidents left behind an industrial base in America that "had been hollowed out." Biden is allegedly restoring this with his Bidenomics policies, which the "big guy" cannot even define since they are not his own.
"The vision of public investment that had energized the American project in the postwar years – and indeed for much of our history – had faded," Sullivan added, claiming to be the official spokesman for Bidenomics.
Unlike Reaganomics, Bidenomics does not support tax cuts for "the rich," trade liberalization, and deregulation. It does not consider the free market – not that we actually have one, by the way – to be a powerful enough insulator and protector of American interests.
"There was one assumption at the heart of all of this policy: that markets always allocate capital productively and efficiently," Sullivan said back in April in a speech he delivered at the Brookings Institution.
"President Biden ... believes that building a twenty-first-century clean-energy economy is one of the most significant growth opportunities of the twenty-first century – but that to harness that opportunity, America needs a deliberate, hands-on investment strategy to pull forward innovation, drive down costs, and create good jobs."
In other words, the government is better positioned to direct private industry than the free market, even though government waste and failure are hallmarks of a government-controlled society.
"The government is not in the business of making good investments," said economist Arthur Laffer, a former advisor to Presidents Ronald Reagan and Donald Trump, as well as to UK Prime Minister Margaret Thatcher. "That's not what they should be doing."
The latest news about the trainwreck known as the Biden (fake) presidency can be found at Treason.news.
Sources for this article include: