Biden's stained legacy
As he enters the final month of his first and only presidential term,
Biden rightly boasts that he's leaving his successor a strong economy — perhaps the best in the world. Inflation is under control, gas is down to
Unemployment is holding steady at 4%, and Biden's most enduring achievements — major investments in infrastructure upgrades, computer chip manufacturing and clean energy innovation — will generate economic vitality for years to come.
But one fact threatens to overshadow those positives and indelibly stain his reputation. Biden hands that economy over to
As Democratic strategist
It was an act of supreme selfishness and self-delusion that doomed his party from the beginning. There's no guarantee that a younger, fresher Democrat — especially a governor with no ties to
That's largely — but not completely — true. Biden has always been a union man focused on creating good-paying jobs for the working-class folks he grew up with in Scranton. And he's entitled to chide his Republican foes who voted against his economic initiatives and now embrace the benefits they will produce.
"Some of my friends in the
"Going to be interesting," Biden said. "Going to be interesting."
He even taunted Trump, who has vowed to roll back many of Biden's policies: "Will the next president stop a new electric battery factory in
Here's the problem: Notice that Biden says his programs "will create thousands of jobs" — but that's in the future. His economic successes came too late to save his party politically, and how they will affect his legacy is still an open question.
There are other questions as well. Biden was good at creating jobs, but not joy; at encouraging industry, but not inspiration. He was handed a nation soaked in pandemic gloom that he was never able to dispel. On
Then there is his decision to pardon his son Hunter, who was facing jail time for tax- and gun-related crimes. Many parents could sympathize with Biden's instinct to protect his child, but his real sin was not devotion, it was deception.
"The problem that
Judgments must be tentative as a president leaves office. History has a way of burnishing reputations as time goes by.
But as he departs, we know two things for sure about Biden: His economic policies have largely succeeded. And his political mistakes helped leave that economy to his worst enemy.


Ask the Medicare Specialist
Ohio Chamber, big banking, business groups sue Fed over its annual stress test
Advisor News
- How can more Americans achieve financial independence?
- Savers vs. spenders: How money management attitudes impact financial confidence
- Demonstrating the value of life insurance to Gen Z
- Poor money habits are a dealbreaker in a new relationship
- DC plan sponsors see opportunity in alternatives
More Advisor NewsAnnuity News
- CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Managing Director Joins ‘Target Topics’ Podcast to Discuss State of Delegated Underwriting Authority Enterprises Market
- KBRA Assigns Rating to TruSpire Retirement Insurance Company
- Partial annuitization: How advisors can help clients balance income, growth
More Annuity NewsHealth/Employee Benefits News
- Walla Walla residents drop health insurance because of affordability under Trump
- New Life Science Study Findings Recently Were Reported by Researchers at Johns Hopkins University Bloomberg School of Public Health (Formulary-Related Insurance Denials of Single-Source Branded Drugs in the United States): Life Science
- Trademark Application for “MEMORIAL HERMANN HEALTH PLAN MEDICARE ADVANTAGE PLANS HEALTH PLAN COMMERCIAL GROUPS” Filed by Memorial Hermann Health System: Memorial Hermann Health System
- Harrison: Rising health insurance exchange costs bad news for working poor in MS
- 94% of Americans say Congress must act on health care costs
More Health/Employee Benefits NewsLife Insurance News
- How can more Americans achieve financial independence?
- AM Best Assigns Credit Ratings to MAAGAP Insurance Inc.
- Critical care riders: the living benefit more clients should understand
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Upgrades Credit Ratings of Sagicor Financial Company Ltd. and Most of Its Subsidiaries
More Life Insurance News