If the last two years have taught us anything, it is that federal economic policy can either empower America’s workforce or its bureaucracy. As we sit in a period of historic inflation, chaotic housing and energy markets, and a 6.2% increase in the personal consumption expenditures price index this year, people are experiencing economic whiplash because the Biden administration has chosen to empower the latter.
If you compare the economic outcomes resulting from legislation passed in 2017 with those passed in 2021 and 2022, you’ll find a clear representation of the differences in conservative and liberal economic policies. In 2017, a Republican majority enacted pro-growth reforms that lowered taxes, raised wages, and grew the economy. In contrast, Democrats have used their majority over the past couple of years to pass record spending measures that led to rampant inflation, increased taxes, reduced wages, and negative GDP growth.
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