New Study Reveals Joe Biden’s Agenda Would Crush American Workers

The Wall Street Journal Editorial Board is sounding the alarm over a new Hoover Institution study, which revealed the economic devastation Joe Biden’s agenda would cause if implemented.

“Overall, the authors estimate that the Biden agenda, if fully implemented, would reduce full-time equivalent employment per person by about 3%, the capital stock per person by some 15%, and real GDP per capita by more than 8%. Compared to Congressional Budget Office estimates for these variables in 2030, this means there would be 4.9 million fewer working Americans, $2.6 trillion less in GDP, and $6,500 less in median household income.” – WSJ Editorial Board

Biden’s proposed combination of tax increases, regulatory increases, and reckless expansion of failed programs like Obamacare would return America to the “agonizingly slow” labor recovery while the Obama Administration held the White House.

“The risk from Joe Biden’s policies isn’t that they will send the economy reeling right away. The problem is that they will have a long-term corrosive impact by raising the cost of capital, reducing the incentive to work and invest, and reducing productivity across the economy. Americans will pay the price in a lower standard of living than they otherwise would—and that they deserve.”

As noted by the Editorial Board, “Mr. Biden could do nothing and inherit a boom in 2021 and 2022.” President Trump’s pro-growth policies have delivered a historic economic rebound that will be stopped in its tracks if Joe Biden is elected.