President Joe Biden delivers remarks on the drawdown of U.S. troops from Afghanistan, Thursday, July 8, 2021, in the East Room of the White House. (Official White House Photo by Hannah Foslien)
Joe Biden’s fourth State of the Union address was filled with veiled attacks on Donald Trump, but when it comes to discussing the issues most pressing to Americans, Biden was incoherent. The New York Sun called out Biden’s failure to address the topic on so many Americans’ minds, writing:
Mr. Biden offered no coherent discussion of the most mendacious feature of the Bidenomics — inflation. “Wages keep going up and inflation keeps coming down,” he declared. “Inflation has dropped from 9 percent to 3 percent, the lowest in the world.” The fact is that at 3 percent, inflation is 50 percent higher than the target set — without any say-so from Congress — by the Federal Reserve. Never mind that its target of 2 percent is too high to begin with.
It happens that as Mr. Biden was preparing his speech, we were across the street from the Capitol at the Library of Congress, where the Calvin Coolidge Presidential Foundation was hosting a conference on “America in Debt.” It turned out to be a serious and civil, bipartisan discussion of the burden our country has taken on in the age of fiat money. How nice it would have been to hear such talk by the President — or any president.
Mr. Biden’s State of the Union address is being touted as the opening of his campaign in the general election. We’re not making book at the moment on the outcome of that campaign. We are, though, looking forward to seeing whether, and how, Mr. Trump will take on the particulars. Our search of the transcript indicates that Mr. Biden didn’t once mention the word “growth.” So he has left his predecessor plenty of room to maneuver in the coming contest.
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