The Nation’s Economic Problems Are in the Hands of People Who Are Not Ready for Prime Time
A survey released today of the employment history of 68 top officials in the Biden Administration – starting with the president himself – shows most of the nation’s senior executive branch policymakers have zero experience in the private sector. This analysis by The Committee to Unleash Prosperity explains why the Biden policies on the economy have been such a failure. Almost none of the key policymakers know anything about business, commerce or finance.
In preparing the report, economist Steve Moore and co-author Jonathan Decker examined the work history of the president’s cabinet, regulatory officials, and White House advisers. They found:
- The median years of business experience is zero.
- 62% of the Biden appointees dealing with economic policy, regulation, commerce, energy, and finance have no practical experience working in the private sector.
- The vast majority of the Biden economic/commerce team consists of professional politicians, lawyers, community organizers, academics, lobbyists, and government employees.
The Trump cabinet averaged more than 10 years of business experience.
“It’s easy to understand why we have the highest inflation in forty years, the economy may have already put America into a recession. Despite the White House claims like record job ‘creation,’ a sizable majority of the country now believes, according to the latest polls, that America is on the wrong track. The people making economic policy have never worked in the real world,” said Moore, the principal author of the study. “Americans are hurting and we need to change course immediately.”
“The United States has the highest inflation rate in four decades. The stock market sell-off has liquidated $10 trillion of wealth. Retirement savings are dwindling. Consumer, small business, and investor confidence are shrinking. There’s widespread concern that America is at best teetering on the edge of a recession and may already be in one. And, in terms of growth, the economy has flatlined,” Moore said. “Instead of having the best minds in America working on these problems, the president is relying on political and policy stooges who couldn’t make a garden grow, let alone the U.S. GDP.”
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