A report published last week from the Committee to Unleash Prosperity offers a possible explanation for the Biden administration’s abysmal handling of the economy.
According to the report, which analyzed 68 of the administration’s top officials, most Biden appointees have zero years of business experience, with an average of 2.4 years and a median of zero. Instead, 21 officials are career politicians, 20 hold legal backgrounds, 12 are academics, 4 are from education or health fields, 3 hold consulting/public relations backgrounds, and one has a background in labor. 5 have backgrounds in venture capital/investments, and 2 have “miscellaneous business” experience.
“62% of Biden appointees who deal with economic policy, regulation, commerce, energy and finance have virtually no business experience,” the report found.
In contrast, the average Trump cabinet member held 13 years of business experience, with a median of 8 years.
Biden officials with no business experience include Biden himself, Secretary of Labor Marty Walsh, Office of Management and Budget Director Shalanda Young, Secretary of Housing and Urban Development Marcia Fudge, U.S. Trade Representative Katherine Tai, Director of Economic Policy and Budget for the COVID-19 Response Team Charles Anderson and Chair Council of Economic Advisors Cecilia Rouse.
National Economic Council Director Brian Deese holds three years of formal business experience.
In general, the report found that many members of the Biden administration are profoundly ill-suited for their roles. Health and Human Services Secretary Xavier Becerra is a lawyer with little healthcare experience, Transportation Secretary Pete Buttigieg has virtually no experience in transportation or logistics, and Federal Trade Commission Chairman Lina Khan, who oversees trillion-dollar businesses, is a 32-year-old professor with no business experience.
Energy Secretary Jennifer Granholm, who has played a large role in America’s crippling energy crisis, is a lawyer who most recently served as the governor of Michigan after her role as the state’s attorney general.
Last year, Biden’s nominee for the Treasury Department’s Comptroller of the Currency was a Cornell professor named Saule Omarova who had neither business nor banking experience and advocated for the bankruptcy of American oil, coal and gas companies. She withdrew her nomination in December 2021.
These findings may also explain why the Biden administration thinks the economy is at an “historic high”, despite the country heading into a recession.
“Today, thanks to the economic plan and the vaccination plan that my Administration put into action, America has achieved the most robust recovery in modern history,” tweeted Biden last month.
“The fact is America is in a stronger economic position today than just about any other country in the world,” Biden tweeted the next day. “Independent experts have even projected that the U.S. economy could grow faster than China’s economy this year. That hasn’t happened since 1976.”
“What we’re trying to say, what I’m trying to say to you is that the economy is in a better place than it has been historically,” White House Press Secretary Jean-Pierre echoed last month.
As reported by America’s Frontline News, even the Federal Reserve’s GDPNow tracker is showing the economy hurtling towards a recession, and nearly half of American families with kids report not being able to afford food after tax credit payments run out. Most families say they’re living off savings and are no longer able to plan for the future.