Can Harris Get The Job Done?

Happy Tuesday 🇺🇸,

What’s happening…

-Biden was forced out by Democratic Party leaders

-President Obama has yet to endorse Kamala Harris

-China lowers Interest Rates to try and boost economy, may be impactful for the U.S.

-Republicans like to talk about inflation but have no clear solutions to solve it

With the news that President Biden will be dropping out of the presidential race, he was quick to endorse his VP, Kamala Harris. Other prominent Democrats currently serving have already endorsed her and others of the past such as Bill Clinton. However, former President Barack Obama has not. He commented on Joe Biden leaving the race but has not commented on Harris which begs the questions why?

Do Democrats have another trick up their sleeve to get a better candidate in there? The next week or so will be extremely important for Harris to show to party leaders she can take on this role and beat Trump.

It is widely believed that Biden stayed in the race so long because he doubted his Vice President’s chances of beating Trump, a more in depth article from Axios will be attached below. If we are being honest Harris was a DEI selection and if Biden had picked a better running mate they may not be in this situation. Harris was one of the first candidates eliminated in the 2020 Presidential race and polls very poorly as VP now. She has her work cut out for her.

China has made a surprise interest rate cut in hope of increasing economic activity. So what does this means for the U.S.? The short answer is it is unknown. With indicators showing that the U.S. economy is slowing and a clear economic race with China continuing, U.S. officials may feel pressure to lower rates sooner than they should. Interest rates are higher than they have been in decades, however inflation has not come down as fast (maybe due to all the money printing). It is important for the Federal Reserve to do its job and get inflation down to its target rate of 2% before making other moves. In short, if anything we should see another rate hike, which could tip us into a full on recession.

Republicans love talking about the disastrous inflation that has taken place under the Biden Administration. However, they seem to have very few ways they can improve it. Inflation is not really the sitting Presidents fault, however it makes them extremely unpopular. Think Jimmy Carter in the late 70s. However, Biden has run huge deficits while in office and had supply chain issues early on that were due to the end of the pandemic. Republicans need to get a grip because Trump’s history of spending money is no better than Biden’s. If reelected Trump needs to make serious spending cuts. Trump has already stated he will look to eliminate the Department of Education which would be a nice step forward to get rid of some of these useless and wasteful “departments”. Much more work needs to be done to clean up our financial house.

Quote of the Day: “The main achievement of economics is that it has provided a theory of peaceful human cooperation” -Ludwig von Mises

Have a great day!