Club for Growth Foundation released a new white paper titled, “How President Biden’s Agenda Slows Economic Growth,” authored by George Washington University Professor Diana Furchtgott-Roth.
Excerpts:
“President Biden’s agenda includes raising taxes; substantially increasing government spending, including entitlement payments; imposing burdensome regulations on businesses and ordinary Americans; increasing the cost of labor through regulation and expansion of union power while real wages are declining; and forfeiting America’s energy independence…
Standing alone, each initiative is harmful to America’s economy. In combination, these initiatives have led to the increased possibility of an economic recession, as can be seen from the 1.4 percent decline in real Gross Domestic Product in the first quarter of 2022, the first decline in GDP since the pandemic.1 If this decline persists for another quarter, then the country will be in a recession.”
Click here to view the full report.
The Club for Growth Foundation is a nonprofit 501(c)(3) organization that engages in non-partisan and non-political education and research activities throughout the United States.