Academic

ANALYSIS: TRUE. New Stanford Study Suggests Biden?s Agenda Will Have 4 Devastating Economic Conseque?

By Ed Driscoll

ANALYSIS: TRUE. New Stanford Study Suggests Biden’s Agenda Will Have 4 Devastating Economic Consequences.

Four economists from Stanford University?s Hoover Institution analyzed Biden?s proposals to increase taxes, reinstate and expand a host of regulations, and create new subsidies for healthcare and renewable energy. The study concludes that these interventions would distort labor incentives, decrease productivity, and kill jobs.

As a result, the experts project that the policy agenda would, by 2030, lead to 4.9 million fewer jobs and the economy shrinking by $2.6 trillion. So, too, the study projects that consumption would be $1.5 trillion lower in 2030 and families would see a $6,500 drop in median household income compared to a neutral scenario.

?The risk from Joe Biden?s policies isn?t that they will send the economy reeling right away,? the Wall Street Journal editorial board concluded in its analysis of the study. ?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 Bryan Preston wrote last year at PJM, after the Democratic presidential candidates? apocalyptic-themed ?climate change? town hall on CNN, ?If you like Venezuela, voting for any of them will bring you a whole lot of Venezuela. Thank you, CNN, just for letting these people talk. Do it again next week? Please??

Or this Thursday: Biden In Hiding Until After Thurs. Debate ? Is He Hiding From Hunter Stories?

Earlier: Why millions of freelancers fear a Biden presidency may put them out of work.

Full post as published by Instapundit.com on October 19, 2020 (boomark / email).