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Guest Columnist – Bidenomics is Failing Colorado Latinos

Bidenomics is Failing Colorado Latinos “Bidenomics” está fallando a los latinos de Colorado

The opinions, beliefs and viewpoints expressed by our guest columnists do not reflect the opinions, beliefs and viewpoints of this publication.

Impulsando la libertad y el progreso

By Ángel Merlos

Strategic Director in Colorado for The LIBRE Initiative

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When Fitch Ratings downgraded the U.S. government’s credit rating recently, the White House brushed it off. Instead of offering solutions, the administration chose to play the blame game. Bidenomics, they assured us, is helping all Americans. The “eroded confidence in fiscal management” Fitch cited in lowering its rating for U.S. debt is certainly not entirely the fault of the current administration. It has been going on for decades.

TABOR a model for relationship between government and governed TABOR, modelo de relación entre gobierno y gobernados

But the trend has accelerated under the Biden administration, while spending and the debt have soared.The reasons are clear. Bidenomics’ top-down policies — crony capitalism, higher taxes, onerous regulation, and reckless spending – have resulted in a weak economy and a higher cost of living for all Americans and has especially hurt the Latino community.

To right this ship, we need lawmakers to reject Bidenomics, and instead prioritize economic policies that empower individuals and job creators to grow the economy, expanding prosperity for all. The current economic crisis is a result of the flawed belief held by too many politicians that Washington is the source of America’s prosperity.

The president and his allies in Congress know something is wrong, but their only solution is more of the same failed big government policies that got us into this mess in the first place. We need lawmakers to reject the status quo and turn away from top-down economic policy. We need to reinvigorate the true engine of America’s success – the innovative power of the American people.

We can make the American Dream a reality for millions by enacting policies that ensure responsible fiscal and regulatory policies that slow inflation and promote growth, support a flexible workforce, and provide abundant and affordable energy. Here’s one example.

The U.S. House passed a bill earlier this year, the Lower Energy Costs Act, that is particularly important to Coloradans, including Latinos, who are having a hard time paying their skyrocketing energy bills. By reducing bureaucratic red tape and ensuring access to resources, the measure would increase production and decrease energy costs.

It would also boost the number of good-paying jobs in Colorado, helping to grow the state’s economy while making it easier for Hispanic families to prosper. Of particular interest to our state, where the federal government owns more than a third of the land, the bill also would put limits on the president’s authority to use federal land as a political football by barring energy development.

But the White House opposes the Lower Energy Costs Act, and the Senate won’t consider it. It’s unfortunate that policymakers would rather score political points than prioritize working for the American people. The result of such inaction is that the American dream is slipping away for many.The good news is that it’s never too late to do the right thing.

Instead of pandering to favored constituencies, lawmakers could work together to enact policies that empower individuals and job creators to grow the economy and expand prosperity for all. All that’s missing is the political will.

To stiffen the spines of our elected representatives, we need to send a loud message to Washington that it’s time to get to work for all Americans rather than a select few, to end corporate welfare and reckless spending, to reverse policies that have left us with more debt and higher inflation.

We are experiencing a once-in-a-generation economic challenge – inflation, debt, stagnant wages, slow growth. We won’t solve these problems by further empowering politicians in Washington. The solution lies with empowering every American to achieve their potential by encouraging innovation and rewarding hard work.