Good riddance to Bidenomics

As Joe Biden exits, America will be better off without his wasteful economic policies.

President Joe Biden Holds NATO Summit News Conference As Questions Surround His Candidacy
(Image credit: Kevin Dietsch / Staff)

If Joe Biden’s catastrophic performance in the US presidential debate hadn’t already sealed it, then the attempted assassination of Donald Trump certainly did. It seemed inevitable that either the increasingly frail Biden would stand down or that he'd lose to Trump in November. Now that Biden's gone, he's taken “Bidenomics” – as the hugely expensive experiment in industrial subsidies and protectionism is known – with him.

Biden was elected as a moderate, unifying figure, but on economic issues, he has been the most radical US president for a generation. Bidenomics has been a hugely ambitious and highly expensive project to reshape the American economy. Massive subsidies have been offered to build green infrastructure and bring the production of vital equipment back to America. 

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.