Will America’s economy flourish under President Biden?
January 27, 2021 at 4:47 pm #100001222zpodiumKeymaster
According to forbes.com, the economy under President Biden will look a lot like under President Trump, surprisingly enough. Presidents often don’t fulfill campaign promises. Even when they do, things take time. Eventually a Biden administration will impact the economy—but those impacts will mostly be felt after his term of office.
Covid-19 will have the greatest impact on the course of the economy in 2021 and 2022. Public policy can do little to change the course of the disease, aside from approving treatments and vaccines. A Biden administration can take a less political approach and hasten approvals—maybe.
On Joe Biden’s campaign promises, campaigners craft statements with three possible goals. First, they motivate the base of supporters, so that they send money, volunteer and actually go out and vote. Second, campaign statements may try to win over the undecided. Third, a candidate might express deeply felt convictions regardless of how they advance or detract from election odds.
The Biden campaign seems to have crafted a platform to motivate the base and include Bernie Sanders supporters. Appeals to the middle have primarily emphasized that Joe Biden is not Donald Trump. And as for the third possibility, Joe Biden is no idealogue, but rather a flexible politician adapting his message to current situations. So the economic forecaster cannot take campaign pronouncements as a roadmap to the economy’s future.
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