Shops are seen along Main Street in the downtown area of New Port Richie, Fla., June 15, 2021.
photo:
Chris Urso/Zuma Press
A disturbing trend in the Democratic Party in recent years is its growing isolation from the private economy. This has shown itself in the Biden administration’s economic management, and one reason may be that some of its executives have experience in private business.
That’s the title of a report to be released Wednesday by the Committee to Unleash Prosperity, compiled by Stephen Moore and John Dekker. The pair studied the resumes of 68 top executive-branch officials whose work shaped the economy—from President Biden and Treasury Secretary Janet Yellen to White House special assistants on economic policy.
“The average business experience of Biden appointees is only 2.4 years,” the authors found. The 25-year-old with any newcomer to Wall Street has seen more private business hours than most top Washington executives. Sixty-two percent have “virtually no business experience.” Conversely, the average
Has spent his life in law or politics. But the authors found that Biden dominated careers in economic authoritarian law (20), politics and government (21), and education or policy-making (12). Main business experience is in venture capital or investment (five).
There are major exceptions. Commerce Secretary Gina Raimondo was a successful venture capitalist before entering government, and Interior Secretary Deb Haaland operated at New Mexico’s tribal casinos.
Yet it is reasonable to wonder whether Biden’s policies and their results reflect a lack of a basic understanding of how business works. One example is the Department of Labor’s finding of millions of contractors to be classified as employees, despite evidence that many workers prefer independent status.
Health and Human Services Secretary Javier Becerra has no experience in healthcare. Transportation Secretary Pete Buttigieg was a mayor and management consultant with little experience in supply chains or America’s vast transportation network. Deputy Treasury Secretary Wally Adamo has spent almost his entire career in politics and government.
Benefits, pay and the innocence of competition are counted as a virtue in today’s progressive people. But it is not a virtue when the modern government has so much power to regulate and punish private business. The president is free to appoint whomever he wants, but in this administration the consequences of business ignorance are speaking for themselves.
Journal editorial reports: Some party loyalists are looking for an exit strategy. Images: AP/Getty Images Overall: Mark Kelly
opinion | Biden’s Recruitment Policy: No Professional Experience Required
Shops are seen along Main Street in the downtown area of New Port Richie, Fla., June 15, 2021.
photo:
Chris Urso/Zuma Press
A disturbing trend in the Democratic Party in recent years is its growing isolation from the private economy. This has shown itself in the Biden administration’s economic management, and one reason may be that some of its executives have experience in private business.
That’s the title of a report to be released Wednesday by the Committee to Unleash Prosperity, compiled by Stephen Moore and John Dekker. The pair studied the resumes of 68 top executive-branch officials whose work shaped the economy—from President Biden and Treasury Secretary Janet Yellen to White House special assistants on economic policy.
“The average business experience of Biden appointees is only 2.4 years,” the authors found. The 25-year-old with any newcomer to Wall Street has seen more private business hours than most top Washington executives. Sixty-two percent have “virtually no business experience.” Conversely, the average
Donald Trump
The authors state that the cabinet official had 13 years of experience in the private economy.
Some familiarity with the business is especially important because President Biden and Vice President
Kamala Harris
Has spent his life in law or politics. But the authors found that Biden dominated careers in economic authoritarian law (20), politics and government (21), and education or policy-making (12). Main business experience is in venture capital or investment (five).
There are major exceptions. Commerce Secretary Gina Raimondo was a successful venture capitalist before entering government, and Interior Secretary Deb Haaland operated at New Mexico’s tribal casinos.
Yet it is reasonable to wonder whether Biden’s policies and their results reflect a lack of a basic understanding of how business works. One example is the Department of Labor’s finding of millions of contractors to be classified as employees, despite evidence that many workers prefer independent status.
Health and Human Services Secretary Javier Becerra has no experience in healthcare. Transportation Secretary Pete Buttigieg was a mayor and management consultant with little experience in supply chains or America’s vast transportation network. Deputy Treasury Secretary Wally Adamo has spent almost his entire career in politics and government.
Benefits, pay and the innocence of competition are counted as a virtue in today’s progressive people. But it is not a virtue when the modern government has so much power to regulate and punish private business. The president is free to appoint whomever he wants, but in this administration the consequences of business ignorance are speaking for themselves.
Journal editorial reports: Some party loyalists are looking for an exit strategy. Images: AP/Getty Images Overall: Mark Kelly
Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Printed July 13, 2022, print edition as ‘Business Experience Needed’.