By John Ubaldi, “Ubaldi Reports”
The election of Joe Biden to the presidency ushered to the oval office for the first time in U.S. history someone who had virtually no experience outside the confines of Washington D.C. power circles, this historical anomaly also extends to his administration as well.
As the American people grapple with the highest inflation rate in over forty years, many had hoped that the president and his administration would have had a better strategy for reversing this sobering economic crisis, but unfortunately this would not be the case.
Without the experience having been gained outside of Washington either as a governor with executive experience or in the private sector as business owner, everything Biden does further amplifies by making the situation worse.
Over the past number of years Democrats have increasingly become far removed from the private sector, as Biden, his senior administration officials and Democratic leaders in Congress have spent their entire careers in and around Washington politics.
As inflation hammers the American family, one of the reasons why President Biden and his administration are having a difficult time coming to grips with this economic crisis is that few if any have any tangible experience in running a private sector business.
First, President Biden became the first president in U.S. history with more than fifteen consecutive years in one government position; his thirty six years as a U.S. Senator from Delaware, then eight years as Vice President under President Barack Obama.
In each of these positions, he never had to make the final decisions; this was always left up to someone else. Now that he is the Commandeer –In-Chief, he is making wrong policy decisions, and exacerbating an already dire situation by making it worse.
Remember, former Secretary of Defense of Defense Robert Gates under both President Bush and Obama, stated that “Biden has been wrong on every foreign policy decision in past forty years,” this now extends to domestic policy.
As inflation is at the highest level in forty years let’s examine Biden’s economic advisers who throughout 2021, stated that inflation was transitory and that more government spending would not lead to higher inflation.
A report to be released by the “Committee to Unleash Prosperity,” compiled by Stephen Moore and Jon Decker, examined the résumés of Biden’s top 68 executive-branch officials whose polices have impacted the economy—beginning with President Biden and Treasury Secretary Janet Yellen all the way to the White House special assistants on economic policy.
A startling fact emerges is that the “Average business experience of Biden appointees is around 2.4 years.” Almost all small business owners across America have more private business hours than most of Washington’s top economic officials. The report found that Sixty-two percent have “virtually no business experience.” By contrast, the average cabinet official in the Trump administration had 13 years of experience in the private economy as stated in the report.
Some familiarity with business is especially important given that Biden and his Vice President Kamala Harris have spent their entire lives in law or politics. But the authors noted in the report that Biden’s economic officials are dominated by careers in law (20), politics and government (21), and academia or policy-making (12). The few that have business experience is in venture capital or investing with only five falling into this category.
The notable exceptions of this lack of business experience is Commerce Secretary Gina Raimondo who was a successful venture capitalist before entering government, and Interior Secretary Deb Haaland who ran operations at a New Mexico tribal casino.
This lack of any tangible business experience has hurt the Biden administration and made life extremely difficult for American families. The vast amount of experience of Biden officials is primarily focused in non-business related fields such as lawyers, community organizers, lobbyists, or government employees.
The Biden administration team is focused more on expanding the role and scope of the federal government, pushing woke political priorities all the while the policies they have enacted have had a detrimental impact on the American worker and small businesses.
Just look at some of Biden’s cabinet officials such as Health and Human Services Secretary Xavier Becerra has virtually no experience in healthcare. His agency overseas the Food and Drug Administration that was responsible for the baby food formula debacle and continued lack of supplies that are continuing to impact young families.
Then there is Transportation Secretary Pete Buttigieg who was a mayor and management consultant with little experience in supply chains or America’s vast transportation network. His agency oversees America’s vast airline industry, but this summer we have seen massive disruption, where is he on this subject?
Deputy Treasury Secretary Wally Adeyemo has spent nearly his entire professional career in politics and government, his experience centers primarily on economic theory then in practical business experience.
Many of Biden’s economic team has minimal experience in practical business experience in dealing with profits, payrolls, investment capital, and competition, or how to navigate this complex world of global trade all the time having to deal with progressives who permeate in government who push regulations that punish private business.
The one person who should have known about how Biden’s economic policies of massive governmental spending which would exacerbate inflationary pressures would be Treasury Secretary Janet Yellen, she was the former Federal Reserve Chairperson, but like all others zero practical business experience.
Yellen spent her entire professional life in academia and government, maybe this could explain her repeated denial about inflation for so long, who even refused to even entertain the idea that the $1.9 trillion stimulus which amplified inflation on steroids.
She continued to agree with Biden that the nation needed more spending and higher taxes which was Biden’s $5 trillion “Build Back Better” if passed by Congress would have made inflation even worse.
Even former U.S. Treasury Secretary in the Clinton administration and Director of the National Economic Council in the Obama administration Larry Summers warned President Biden and his economic team but he was rebuffed as an alarmist; unfortunately he was proven correct.
You would think that Biden would appoint or look for individuals that know or have known how to control costs, manage logistics, increase productivity, met a payroll, and make a profit, more importantly avoid large losses to the company’s bottom line.
Unfortunately, Biden chose the latter by choosing those with a background like his of only governmental, academic work such as the chair of his Council of Economic Advisers Cecilia Rouse and council member Heather Boushey who have only economic theory experience with no tangible knowledge of running a private sector business.
Even Katherine Tai, U.S. Trade representative has spent her professional career in government, mainly serving in the halls of Congress instead of operating a business on the international stage.
The list goes on, all members of the Biden economic and senior level cabinet position have scant experience in the field they oversee, and with all the dire economic situation the country finds itself in this lack of tangible knowledge has directly contributed to the mess the nation finds itself in.
The sad part every small business owner has more practical business experience than anyone advising the president, the problem their policies are making the situation worse not better!