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December 30, 2023 Heather Cox Richardson

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One day short of his first 100 days in the White House, on April 28, 2021, President Joe Biden spoke to a joint session of Congress, where he outlined an ambitious vision for the nation. In a time of rising autocrats who believed democracy was failing, he asked, could the United States demonstrate that democracy is still vital?

“Can our democracy deliver on its promise that all of us, created equal in the image of God, have a chance to lead lives of dignity, respect, and possibility? Can our democracy deliver…to the most pressing needs of our people? Can our democracy overcome the lies, anger, hate, and fears that have pulled us apart?”

America’s adversaries were betting that the U.S. was so full of anger and division that it could not. “But they are wrong,” Biden said. “You know it; I know it. But we have to prove them wrong.”

“We have to prove democracy still works—that our government still works and we can deliver for our people.”

In that speech, Biden outlined a plan to begin investing in the nation again as well as to rebuild the country’s neglected infrastructure. “Throughout our history,” he noted, “public investment and infrastructure has literally transformed America—our attitudes, as well as our opportunities.” 

In the first two years of his administration, when Democrats controlled both chambers of Congress, lawmakers set out to do what Biden asked. They passed the $1.9 trillion American Rescue Plan to help restart the nation’s economy after the pandemic-induced crash; the $1.2 trillion Infrastructure Investment and Jobs Act (better known as the Bipartisan Infrastructure Law) to repair roads, bridges, and waterlines, extend broadband, and build infrastructure for electric vehicles; the roughly $280 billion CHIPS and Science Act to promote scientific research and manufacturing of semiconductors; and the Inflation Reduction Act, which sought to curb inflation by lowering prescription drug prices, promoting domestic renewable energy production, and investing in measures to combat climate change.

This was a dramatic shift from the previous 40 years of U.S. policy, when lawmakers maintained that slashing the government would stimulate economic growth, and pundits widely predicted that the Democrats’ policies would create a recession. 

But in 2023, with the results of the investment in the United States falling into place, it is clear that those policies justified Biden’s faith in them. The U.S. economy is stronger than that of any other country in the Group of Seven (G7)—a political and economic forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, along with the European Union—with higher growth and faster drops in inflation than any other G7 country over the past three years. 

Heather Long of the Washington Post said yesterday there was only one word for the U.S. economy in 2023, and that word is “miracle.” 

Rather than cooling over the course of the year, growth accelerated to an astonishing 4.9% annualized rate in the third quarter of the year while inflation cooled from 6.4% to 3.1% and the economy added more than 2.5 million jobs. The S&P 500, which is a stock market index of 500 of the largest companies listed on U.S. stock exchanges, ended this year up 24%. The Nasdaq composite index, which focuses on technology stocks, gained more than 40%. Noah Berlatsky, writing for Public Notice yesterday, pointed out that new businesses are starting up at a near-record pace, and that holiday sales this year were up 3.1%. 

Unemployment has remained below 4% for 22 months in a row for the first time since the late 1960s. That low unemployment has enabled labor to make significant gains, with unionized workers in the automobile industry, UPS, Hollywood, railroads, and service industries winning higher wages and other benefits. Real wages have risen faster than inflation, especially for those at the bottom of the economy, whose wages have risen by 4.5% after inflation between 2020 and 2023. 

Meanwhile, perhaps as a reflection of better economic conditions in the wake of the pandemic, the nation has had a record drop in homicides and other categories of violent crime. The only crime that has risen in 2023 is vehicle theft.  

While Biden has focused on making the economy deliver for ordinary Americans, Vice President Kamala Harris has emphasized protecting the right of all Americans to be treated equally before the law. 

In April 2023, when the Republican-dominated Tennessee legislature expelled two young Black legislators, Justin Jones and Justin J. Pearson, for participating in a call for gun safety legislation after a mass shooting at a school in Nashville, Harris traveled to Nashville’s historically Black Fisk University to support them and their cause. 

In the wake of the 2022 Dobbs v. Jackson Women’s Health Supreme Court decision overturning the 1973 Roe v. Wade decision that recognized the constitutional right to abortion, Harris became the administration’s most vocal advocate for abortion rights. “How dare they?” she demanded. “How dare they tell a woman what she can and cannot do with her own body?… How dare they try to stop her from determining her own future? How dare they try to deny women their rights and their freedoms?” She brought together civil rights leaders and reproductive rights advocates to work together to defend Americans’ civil and human rights. 

In fall 2023, Harris traveled around the nation’s colleges to urge students to unite behind issues that disproportionately affect younger Americans: “reproductive freedom, common sense gun safety laws, climate action, voting rights, LGBTQ+ equality, and teaching America’s full history.” 

“Opening doors of opportunity, guaranteeing some more fairness and justice—that’s the essence of America,” Biden said when he spoke to Congress in April 2021. “That’s democracy in action.”

Notes:

https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/04/29/remarks-by-president-biden-in-address-to-a-joint-session-of-congress/

https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/02/04/remarks-by-president-biden-on-americas-place-in-the-world/

https://www.vox.com/2021/4/28/22408735/joe-biden-congress-speech-democracy-autocracy

https://www.whitehouse.gov/briefing-room/statements-releases/2021/08/02/updated-fact-sheet-bipartisan-infrastructure-investment-and-jobs-act/

https://www.npr.org/2023/01/01/1143149435/despite-infighting-its-been-a-surprisingly-productive-2-years-for-democrats

https://www.nytimes.com/2023/12/30/business/dealbook/inflation-economy-stocks-year-in-charts.html

https://www.threads.net/@mollyjongfast/post/C1dPRpavuGm/

https://abcnews.go.com/amp/Business/wireStory/stock-market-today-stocks-drift-final-trading-day-105988122

https://www.nytimes.com/2023/12/29/us/crime-data-fbi-homicides.html

https://www.washingtonpost.com/business/2023/10/26/gdp-third-quarter-economy-growth/

https://www.businessinsider.com/us-economy-doing-way-better-than-rest-of-rich-world-2023-7

https://www.washingtonpost.com/opinions/2023/12/29/economy-inflation-jobs-miracle/

https://www.washingtonpost.com/business/2023/12/29/stock-market-2023/

Public Notice
Biden doesn’t get enough credit for his economic record
Read more

https://apnews.com/article/kamala-harris-tennessee-gun-violence-lawmakers-expelled-0a5011694aa5cbf5917bac7f9e09551b

https://www.nytimes.com/2022/05/12/us/politics/harris-abortion-rights-biden.html

https://www.whitehouse.gov/briefing-room/statements-releases/2023/09/07/vice-president-harris-launches-nationwide-fight-for-our-freedoms-college-tour-to-mobilize-students-and-young-people-in-the-fight-for-their-rights/

https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/13/readout-of-vice-president-kamala-harriss-meeting-with-civil-rights-and-reproductive-rights-leaders/

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Nellie Bowles: The Triumph of the Plastic Straw Nellie Bowles

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The biggest environmentalist craze of my generation started in 2011 with Vermont 9-year-old Milo Cress cooking up an arbitrary number for how many plastic straws Americans used daily. This 9-year-old figured it was so many. He says he called up straw manufacturers and calculated 500 million a day. Boom, big number, good number. The mainstream media was off to the races. That 500 million a day number was cited in The New York Times, The Wall Street Journal, and The Washington Post. Suddenly the most important thing we could do for the environment—for our children!—was ban plastic straws.

States and cities passed laws against them. California banned them from restaurants outright in 2018. New York, in 2021, changed the law so the only straws on display were paper (you were allowed to ask for plastic). Official fact sheets from Ron DeSantis’s state of Florida instruct Floridians to “Skip the Straw,” citing the 500 million figure. Did anyone question the basis of this?


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It Pays to Be a Friend of Donald Trump Joe Nocera

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Two dodgy Democrats had a great day on Monday—thanks to our new Republican president, Donald J. Trump.

The first, former Illinois governor Rod Blagojevich, was granted a full pardon. Back in 2009, after he’d been charged with corruption, Blagojevich got himself booked on Trump’s show, Celebrity Apprentice. (You can see his appearance in these YouTube clips. He was fired, of course.) I don’t know if Blagojevich had a premonition that Trump might someday be in a position to help him, but it sure has turned out that way. Transforming himself from a high-profile Democratic governor to a big-time Trump supporter was the single best move he could have made.


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Stop Making Cents? Charles Lane

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On Sunday, President Donald Trump announced that he has ordered his administration to cease production of the penny. The argument for the move seems straightforward enough. It costs more than a penny to make a penny (3.7 cents, according to the U.S. Mint). Given inflation and the move to digital payments, ditching the coin is just common cents, right?

Not necessarily. Life’s about more than just making the numbers add up, and amid all the government waste, doesn’t the humble penny deserve a carve out for sentimental reasons?

Today, we debate the penny’s fate. Good riddance or gone too soon? Deputy Editor Charles Lane supports Trump’s move. Consulting Editor Jonathan Rosen opposes it. Have at it, gentleman.

Charles Lane: President Trump’s decision to end production of the penny has my total support. This mite of a coin betrayed me, quite directly and personally, over the course of 13 years.

“Save your pennies, Chuck,” a supervisor at work told me in 2002, responding to some angst I expressed about future college tuition costs. This was her way of not getting the hint that I needed a raise.

Attitudinally positive as always, I took her advice. I told my 5-year-old son that we would henceforth be keeping every one-cent coin we received as change, found on the street, or won playing dreidel until the moment he left for college.

What a father-son project! So rich in lessons about thrift, consistency, and long-term thinking! And so we collected and collected, filling first one large glass jug and then another, until July 2015, when it was time for the big reveal: We had accumulated 10,142 pennies, about 2.19 per day.

They were worth $101.42, not even enough to cover a month’s fraternity dues.

Wrapping the little suckers in paper rolls to enable deposit at a bank took me several days. Valued at the federal minimum wage of $7.25 per hour, the time wasted offset any wealth embodied in our hoard—with change left over.

So I did not need the DOGE to tell me the government lost over $179 million in fiscal year 2023 minting more than 4.5 billion one-cent pieces at a cost of three-plus cents each. I already knew that a penny is much more trouble than it’s worth.


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