The Washington Post Columnist Katherine Rumble acknowledged in a recent article that President Biden may not have a lasting legacy, especially on the economy.
Rumpel, who writes about economic issues for the outlet, He disputed Biden and his supporters' claims The president's economic legacy is a “tremendous success.” She also rejected his critics, calling him a “catastrophic scar on economic history.”
“In fact, relatively little of Biden’s economic agenda is likely to outlast his time in office,” the columnist wrote. “When we look at the record of the 46th president in two years, he probably won't have much of a lasting legacy either way.”
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President Joe Biden likely won't have a lasting legacy on economic issues, said Washington Post columnist Katherine Rumble. (AP Photo/Susan Walsh, File)
Rumpel broke down multiple instances of praise that critics have “lavished” on Biden. “When Biden took office, commentators showered him with grand historical comparisons. He was a 'transformational' president heralding another FDR-style 'New Deal' or LBJ-like 'Great Society,'” she included. Biden supposedly has a mandate to create an entirely new “model” of the post-neoliberal economy.
Although she acknowledged that Biden “significantly expanded the social safety net to help vulnerable Americans” early in his term, Rumble wrote that “Biden's programs have been relatively ephemeral. Many have already disappeared or are set to expire soon.”
And I noticed how he is the boss 2021 Expanded Child Tax Credit It has also “sunset after just one year” and its “historic investment in the childcare sector.”
In addition, the author noted that Biden's health tax credits — which she said brought the “uninsured rate to an all-time low” — expire in less than a year and “Republicans are not expected to extend them.”
President Joe Biden speaks about his administration's economic playbook and the future of the U.S. economy at the Brookings Institution in Washington, Tuesday, Dec. 10, 2024. (AP Photo/Susan Walsh) (AP Photo/Susan Walsh)
As a result, “the uninsured rate is likely to come back,” Rampel predicted, adding that the expansion of food stamp benefits “seems likely to be reversed soon.” Some of Biden's other ideas, such as elder care and national paid leave, “never materialized.”
Rumpel targeted the president's industrial policy, specifically the “bipartisan Infrastructure Act, the Chip and Science Act, and the Inflation Control Act.”
Although she said the first two on that list might have some “staying power” because they had some GOP support, the author explained that their “impact was more limited than the original hype suggested.”
The columnist reminded readers that the additional dollars Congress approved for the infrastructure law “have been eaten up by inflation.” Inflation reduction lawShe said it had been “in the GOP's target for a while,” adding that Republicans had “already taken away much-needed IRS funding under the law.”
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Biden's regulatory changes were “silent,” he issued.zero “Major new worker health or safety standards,” Rumble said, explaining that the administration had expected to finalize the new rules in a second term.
The columnist also attacked Biden's economic agenda for “low- and middle-income Americans,” noting that although “the current American labor market looks pretty great” and wages for people of color and the less educated have “increased sharply,” these demographics have also suffered. More than inflation.
“But whether it's right or wrong, a few years from now “Double inflation” is possible “This is what Americans remember in this era of a hot economy, not a strong job market,” Rumpel declared.
“Whatever the impact of the Biden economy, it will likely be — dare I say it — rather temporary,” she concluded the article.
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President Biden recently acknowledged his concerns about his age and discussed his legacy in an interview Interview with USA Today, He still claims he would have won another term if he had run against Donald Trump, but admits he's not sure if he can last another four years.
“So I hope that history will say that I came and I had a plan for how to restore the economy and reestablish America's leadership in the world,” the president said. “That was my hope.”
