The election of 2024 is over a year away but the primaries will be upon us within months. The professional chattering class is already exercising its modus operandi, focusing on the horse race more than on policy issues.
The conventional wisdom is that voters are not enamored with either likely candidate, President Biden or former President Trump. They apparently wish for other candidates even though there is no agreement among either Democrats or Republicans on their alternative candidate. So far, there is no viable Democrat willing to take on President Biden. Of the Republican wannabes the few who are willing to take on Trump are doing poorly. The rest of them are scared stiff to take on the master of the Republican Party.
Even though by major criteria the economy is doing fine, and, when questioned about their own financial condition, most voters say they are doing well enough, but are wary about the future. They are generally unhappy about the direction of the country, and it reflects on Biden’s favorability. Chief among his criticisms are that “He’s too old.” Respected columnist, David Ignatius, has just completed a column urging Biden not to run.
Republicans are unhappy about direction of the country, for different reasons than Democrats, and cite border issues. They trumpet exaggerated claims about “how terrible” the economy is. Even though Trump is a mere three years younger than Biden, age is seldom mentioned as a disadvantage for Trump. Trump’s overriding issues, including character, his proclivity to violence, and his abandonment of conventional democratic — small “d” — norms, especially election denial and failure to endorse the peaceful transfer of power, loom larger than his age.
Is Biden too old for the presidency? He clearly has aged physically. And his voice doesn’t portray the strength it once did. But his mind is still sound. He is a man of compassion and character. His experience is unparalleled as is his ability to deal with the most recalcitrant of his political adversaries. Okay, so his son has had problems, including with drugs. So have many other American parents had kids with problems, including with drugs, but we don’t impugn their character for that misfortune.
What counts are results. Results depend not just on the individual but, as with Biden, his appointees to whom he delegates authority to run the machinery of government, and his choice of advisors to whom he listens. This is where age and experience are crucial qualifications for the presidency.
Unfortunately, given the nature of political controversy and the tendency of the profit-oriented corporate media to focus on the sensational, and glitzy subjects of the moment, policy results are often dismissed and overlooked, considered boring and wonky. Policy detail is not seen as exciting or newsworthy as profanity laden soundbites and the horse race itself.
The legislative record of this “old guy” in the White House who is accused of declining mental acuity is impressive — some say as significant as since FDR. I would say “as significant as since LBJ” who, in my opinion, continues to be underrated. Where would we be without Medicare, for example? But I digress.
Biden inherited from Trump an economy in the tank, suffering the effects of the Pandemic that Trump refused to recognize and effectively deal with. Unemployment, interrupted supply chains, people afraid to go to work — major conditions that caused world-wide inflation. This provided the opportunity used by Republicans to blame President Biden for world-wide inflation.
With action of the Fed, and gradual loosening up of supply chains, inflation has come down, still above the Fed target of two percent, but better than other major world economies. Agree with them or not, Biden’s legislative accomplishments are many, including the most significant infrastructure bill in decades. The CHIPS bill focuses on domestic manufacturing. Even with its baby steps, gun legislation is the most significant in decades.
The Inflation Reduction Bill addresses climate change and measures to reduce drug costs. Medicare recipients will spend no more than $35 per month on insulin. Out-of-pocket drug costs for Medicare recipients will be limited to $2,000 per year, beginning in 2025. Medicare will be able to negotiate with Big Pharma for costs of the ten most used drugs, beginning in 2026. As these last two measures begin in the future, Biden will likely get zero credit for these measures, even as significant as they are. Republicans have long sided with Big Pharma on these issues. But Biden got it done.
This legislation includes less-publicized measures such as aid to veterans having been exposed to dangerous chemicals.
In contrast to Biden inheriting an economy in the tank, Trump inherited a healthy economy from the Obama Administration. Trump promised a major infrastructure bill. It never happened. Biden got it done.
Trump promised to end the Affordable Health Care Act and replace it with “something better.” Neither happened.
Trump promised to reduce the public debt, even end it. Instead, with the unanimous consent of his Republicans, the ill-advised 2017 tax bill that benefited mainly profitable corporations and the top fraction of one percent of income recipients is projected to add nearly $2 trillion to the public debt over the next decade.
During his campaign he had hinted at taxing the rich. After election, he reminded his rich pals that they should thank him for the gift he gave them with that tax bill.
Trump billed himself as an outsider who would use his business experience to “drain the swamp.” “I alone can fix it,” he claimed. Instead, with a few exceptions, his appointees were a collection of ideologues, misfits, and incompetents. Competent appointees included Generals Mattis and Milley, and Fed Chair Powell.
What counts is results. That takes experience and the ability to attract and hold competent people. And it should not even need to be mentioned that dedication to norms of behavior, especially the peaceful transfer of power, are fundamental. Al Gore accepted the controversial conclusion of the year 2000 election. Even Richard Nixon accepted the results of the 1960 election.
Will Biden get credit for his accomplishments? Maybe not. But his age is a bogus issue.
— John Waelti of Monroe, a retired professor of economics, can be reached at jjwaelti1@tds.net. His column appears monthly in the Monroe Times.
