Commentary
In August, the Biden administration and Congress celebrated their third legislative victory in less than a year. As with Russia’s invasion of Ukraine, they are celebrating Pyrrhic victories.
As Russia’s invasion will seriously undermine Russia’s living standards, President Joe Biden’s massive government expansion will stifle U.S. growth for years to come.
It often takes a while for bad legislation to impact the economy, as businesses usually need time to adjust to the increase in burdens. However, when legislation is bad enough, the economic damage can appear quickly. This is what the United States is experiencing in the wake of the president’s legislative “victories.”…