The Impact of Biden’s Policies on Rising Costs and Economic Challenges

In the current economic landscape, one cannot overlook the significant impact of President Biden's energy policy on the overall cost of living. This policy, encompassing various areas such as energy conversion, border control, and healthcare, has led to a series of economic repercussions, notably increasing the cost of goods and services. This article delves into the multifaceted reasons behind these rising costs under Biden's administration, focusing on the energy policy and its cascading effects.

Introduction to the Energy Policy

From day one, President Biden's administration has pursued a radical shift towards green energy, which has had profound implications for the economy. One of the initial actions taken by Biden was the signing of an executive order aimed at closing our pipeline infrastructure. This decision, while well-intentioned, has inadvertently made the production and delivery of goods more costly. The rationale behind this move is to transition away from fossil fuels towards renewable energy sources, a process that requires significant investment and infrastructure development.

The Cost of Goods and Services

As the transportation companies, which are responsible for the delivery of goods, bear the high costs of transitioning to electric or other renewable alternatives, they naturally pass these costs on to consumers. This has led to a general increase in the cost of manufactured and delivered goods, adversely affecting the purchasing power of the middle class. Furthermore, the ongoing pandemic and global inflation have exacerbated these challenges, creating a perfect storm of economic pressures.

The Role of Fossil Fuel Restrictions

On his first day in office, Joe Biden signed several executive orders that placed stringent restrictions on the production, exploration, and transportation of fossil fuels. These measures, part of a broader plan to achieve total electric transportation, have not only increased the cost of fuel but also the overall cost of goods and services. The transition to renewable energy sources is a long-term process that will take decades to achieve, during which the reliance on fossil fuels remains high. This interlude has made it difficult to achieve the intended economic outcomes of Biden's energy policy.

Broader Economic Context

Several factors have contributed to the rising costs of goods and services, not just Biden's policies. The global pandemic has caused economic disruptions, fostering uncertainty and volatility in markets. Inflation, while not unique to the US, has been exacerbated by a wide range of economic and environmental factors, including climate change and agricultural impacts. Despite these challenges, the US has fared relatively well compared to many other countries, maintaining employment rates and supply chain continuity.

Government Actions and Inaction

President Biden has taken various actions to address economic challenges, including lowering the price of some drugs like insulin. However, his policy strategies have often been criticized for their lack of effective implementation. While he works through Congress, legislative processes and political gridlock have hindered the execution of comprehensive policy reforms. The ongoing impeachment proceedings in the House of Representatives further highlight the challenges of effective governance.

Comparative Analysis: Biden vs. Trump

The argument that a Trump presidency would have been better is debatable. Trump's knowledge of economics was limited, and his focus on tax evasion strategies, rather than economic stewardship, has been a source of criticism. The comparison between the two administrations reveals that both have faced significant challenges, with each era presenting its own set of economic and political hurdles.

Conclusion

The rising costs and economic challenges under Biden's administration can be attributed to a combination of factors, including the energy policy shifts, global economic pressures, and political dynamics. While the intention behind Biden's policies is commendable, the execution and its long-term economic impact remain under scrutiny. The pressing need for balance between environmental goals and economic stability continues to be a complex and evolving challenge.