Are
you better off than you were three months ago,
when the current President was sworn into office
on January 20? That’s the question President
Ronald Reagan posed to voters when he squared
off against President Jimmy Carter in 1980.
Voters concluded that they are worse off and
chose Reagan over Carter. But the current
President is lucky that no election is taking
place tomorrow. His approval ratings have
tanked. He has the lowest 100 day approval
rating of any President since pollsters started
asking this question.
Are
you better off? Don’t ask the thousands of
federal workers who have lost their jobs,
including those who used to work at USAID, or
the IRS, or the Social Security Administration,
among others. Don’t ask the elders who are
frightened about the future of Social Security.
Don’t ask the university professors who wonder
if their free speech rights will be protected.
If you ask any of these folks, they are likely
to tell you that they are worse off than they
were 100 days since the President took office,
though some will tell you they are patiently
hoping for things to get better.
When
the current President was elected, he promised
to lower prices and inflation. Prices have not
come down, nor has inflation. Instead,
this President has behaved like the proverbial
bull in a China closet, wreaking havoc and
creating chaos across the board. The
President’s basic economic policy is tariffs.
His rationale is that US-based manufacturing
will grow if imports are more expensive than
domestic goods. But the United States has
neither the workforce nor the capacity to
significantly increase in the United States. No
matter. The President is stuck on senseless and
can’t seem to make up his mind about economic
policy. Unreasonably high tariffs were imposed,
then suspend for everyone except China. The
chaos and confusion make it impossible for
businesses and consumers to plan. Planning an
automobile purchase? Would you buy the car now
or hold off, given looming tariffs? What about
electronics? Initially caught up in the tariff
wars, a call from one of the President’s tech
bros suspended, for now, tariffs on electronics.
What will happen three months from now?
Co-President
Elon Musk, who was allowed to purchase a major
role in government, is moving unchecked from the
federal organization, clowning with a buzz saw,
while workers are apprehensive about their
futures. The federal government is experiencing
brain drain, with many of the longest-serving
workers preferring to retire than deal with the
whiplash of trying to figure out what’s next.
Recession fears are now at the 1990 level, and
consumer confidence is at its lowest level since
1952. Musk’s, whose economic acumen is
demonstrated by the precipitous drop – 71
percent – in his stock, announced he will cut
back on his work with the Department of
Government Efficiency.
In
his one hundred plus days, marked on April 29,
this President has issued about 140 executive
orders. Though he was elected to manage the
economy, few of these executive orders have to
do with the economy. Instead, he has leaped into
the culture wars, including executive orders
specifically targeting some of the Smithsonian
Museums, especially the National Museum of
African American History and Culture. The
executive orders, which are not laws, have
introduced an atmosphere of fear and obeisance.
Law firms, universities, and others are happily
kowtowing to this President’s racist,
anti-diversity agenda. Too many, including
elected legislators, are operating out of fear,
too intimidated to say that the emperor is
wearing no clothes.
Our
economy is suffering, and so is our
international reputation. Mexico and
Canada, among our largest trading partners, are
furious with us, so much so that Canadians
elected a Prime Minister, Mark Carney, who was
trailing in the polls until this President
started attacking Canada. Who can trust us or
plan to do business with us after our
vacillating policies have left them confused?
Who will lend us money when they can’t trust our
stability. Can the European Union use this
uncertainty to strengthen the euro? Will the
euro supplant the dollar as the world’s default
currency?
In
addition to the chaos and confusion, there is
also the delusion that this President continues
to embrace – that he won the 2020 election. This
delusion fuels much of his decision-making, as
many who investigated him have now been
threatened with investigation. This
administration seems to revel in delusions,
including delusions about history, delusions
about prices (the President keeps saying grocery
prices have dropped; they have not,) and
delusions about reality.
If
I had to grade this President on his 100 day
performance, I’d give him lower than a failing
grade, call it an F minus. He is wrecking both
the national and the international economy. He
has ushered in an atmosphere of fear and
uncertainty. And he has the nerve to say he
“having fun” in the process.
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