(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
. . . . . . . . . .



Biden was not a good President [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2025-03-15

Dear DailyKos Readers: Time to Rip Off the Rose-Colored Glasses

The election’s over, folks. The campaign ads have faded, the ballots are counted, and we don’t have to keep pretending anymore. Joe Biden’s presidency? Let’s call it what it was: a golden ticket for the wealthy elite, a love letter to corporate America, and a big fat “too bad” to the rest of us. If you’re ready to face the facts, grab a coffee and let’s dig into the diary of disappointment that is Biden’s legacy.

A Stock Market Party—BYO Millions

Were you one of the fortunate few with a fat stock portfolio during Biden’s White House years? Oh, congratulations! Your wealth probably doubled, maybe even tripled, while the rest of us were busy figuring out how to stretch a paycheck to cover rent and groceries. Biden’s presidency was a Wall Street wet dream—stocks soared, the rich got richer, and the status quo stayed beautifully intact for the millionaire class. But let’s not kid ourselves: a booming Dow Jones doesn’t mean squat for the average American who doesn’t own a single share.

Biden’s Presidency: A Corporate Dream, A People’s Nightmare

If you were a corporate executive or a Wall Street fat cat during Biden’s presidency, life was good. Stocks soared, profits ballooned, and the status quo that keeps the rich on top stayed firmly in place. But for the average American? It was a different story—rising costs, stagnant wages, and a government that seemed more interested in corporate tax breaks than in helping families keep the lights on. Let’s break down some of Biden’s presidential moves that kept the corporate party going strong while leaving working people out in the cold.

• Inflation Reduction Act: Big Pharma’s Backdoor WinThe Inflation Reduction Act (IRA) of 2022 was sold to us as a progressive victory—climate action, healthcare reform, yay! But dig a little deeper, and you’ll see how it gave Big Pharma a sweetheart deal. Sure, the IRA allowed Medicare to negotiate prices for a measly 10 drugs starting in 2026 (a tiny fraction of the thousands on the market), but it also delayed more aggressive price controls that could have hit pharmaceutical profits harder. Biden touted this as a win for seniors, but let’s be real: the phased-in approach and limited scope gave Big Pharma plenty of time to adjust, ensuring their bottom line stayed healthy while Americans continued to pay some of the highest drug prices in the world. Meanwhile, insulin price caps were a nice gesture, but they didn’t go far enough—many non-Medicare patients are still stuck with sky-high costs. Who really won here? The pharmaceutical giants, who kept their profit margins intact.

• Failure to Crack Down on Corporate Price Gouging:

Under Biden’s watch, inflation hit working families hard—gas, groceries, rent, you name it. But while Americans struggled, corporations like ExxonMobil and Tyson Foods posted record profits. Why? Because they jacked up prices far beyond their cost increases, raking in billions while we paid the price. Biden could have pushed for aggressive antitrust enforcement or supported legislation to curb price gouging, but instead, he offered little more than stern words and symbolic gestures. The Federal Trade Commission, under his administration, did launch some investigations into price gouging, but the results were lackluster—no major penalties, no real relief for consumers. Corporations kept price gouging with impunity, and Biden’s inaction let them get away with it, prioritizing corporate freedom over people’s ability to afford basics.

• Bank Bailouts and Financial Sector Leniency

Remember the Silicon Valley Bank and Signature Bank failures in 2023? Biden’s administration swooped in to guarantee all deposits, even those above the FDIC’s $250,000 limit—a move that primarily benefited wealthy depositors and tech companies with massive accounts. While this prevented a broader financial meltdown, it also sent a clear message: big banks and their elite clients get a safety net, but regular folks facing foreclosure or eviction? Good luck. Biden could have paired this bailout with stricter regulations on banks—like reinstating Glass-Steagall or pushing for tougher capital requirements—but he didn’t. Instead, his administration largely maintained the deregulatory environment that let these banks take risky bets in the first place, ensuring the financial sector could keep playing fast and loose while working Americans bore the brunt of economic instability.

• Watered-Down Climate Action: Fossil Fuels Still RuleBiden campaigned on bold climate promises, but his presidency was a mixed bag that often favored fossil fuel corporations over real progress. The IRA did include some green investments, but it also came with massive concessions to the oil and gas industry—like mandating new offshore drilling leases as a condition for renewable energy projects. Biden approved the Willow Project in Alaska, a massive oil drilling venture that could produce 180,000 barrels of oil a day, despite fierce opposition from climate activists. And let’s not forget the record-high oil and gas production under his administration—hardly a win for the planet, but a huge victory for energy corporations raking in profits while the climate crisis worsens. For all his talk of a “green transition,” Biden’s policies ensured fossil fuel giants kept thriving, leaving future generations to deal with the fallout.

Corporate Joe: A Career-Long Love Affair

Biden didn’t just stumble into this pro-corporate groove as president—it’s been his vibe for decades. His Senate career, stretching from 1973 to 2009, reads like a greatest hits album for his donor buddies at the top. Tax cuts? Trade deals? Deregulation? You name it, Biden was there, voting “yes” with a smile, ensuring the elite kept winning while the rest of us got the crumbs.

Let’s break it down with a few highlights from his legislative playlist:

• Tax Reform Act of 1986: Biden gleefully voted to slash corporate taxes from 46% to 34%. Who cashed in? Big businesses, of course. Who didn’t? The single mom working two jobs, scraping by on minimum wage.

• NAFTA: Oh, NAFTA—every corporation’s dream come true. Implemented in ’94, it tore down trade barriers and handed companies a free pass to rake in profits across borders. Biden? He was all in, even as factory workers in the Midwest watched their jobs vanish faster than you can say “outsourcing.” Corporate profits soared; American livelihoods tanked.

• American Jobs Creation Act of 2004: Sounds noble, right? Don’t be fooled—it was a corporate tax break bonanza, complete with sweet deals on foreign earnings. Biden backed it, because why wouldn’t he? Multinationals loved it; working-class folks didn’t see a dime.

• Digital Millennium Copyright Act (DMCA): Biden supported this gem too, beefing up copyright protections for corporate content creators while leaving fair use in the dust. Thanks, Joe—really looking out for the little guy there.

• Telecommunications Act of 1996: Deregulation ahoy! Biden voted to let big telecom companies consolidate power, because nothing says “public good” like a handful of giants controlling the airwaves.

• Bankruptcy Reform Act of 2005: A personal favorite—Biden fought for this one, tilting the scales toward creditors (read: big corporations) and making it harder for regular people drowning in debt to get a fresh start. Compassionate leadership, huh?

• Energy Policy Act of 2005: Tax incentives for energy corporations? Biden was on board, ensuring the fossil fuel titans kept their profits pumping.

What About Us?

So, what did Biden’s corporate cheerleading mean for you and me? Higher bills, fewer jobs, and a system so rigged it might as well have “Sponsored by Wall Street” stamped on it. He loved to talk a big game about the middle class—photo ops with union workers, heartfelt speeches about “Scranton values”—but when the votes were tallied, his loyalty was crystal clear: profits over people, every damn time.

A Tiny Nod to Fairness (Before the Knockout Punch)

Okay, fine—Biden wasn’t all bad. He signed some decent bills, threw a few bones to progressives now and then. But let’s not get lost in the crumbs when the whole bakery went to the elite. His record screams where his heart really lies, and it’s not with the folks struggling to pay their electric bill or keep their kids fed.

Wake Up, People!

The next time someone tries to sell you the “Biden was a great president” line, hit them with this: Great for whom? The billionaires sipping champagne on their yachts? The CEOs laughing all the way to the bank? Because for most of us—working stiffs, dreamers, fighters—he was just another suit picking the same old winners. If we’re serious about a future that puts people first, we’ve got to demand leaders who don’t just talk the talk but walk it too. Biden didn’t. Time to stop pretending he did.

Pretending he was great in 2024 when we thought he would be running against Trump is one thing…but in 2025 it scares me. It makes me think you guys will select another Biden like guy in 2028 when the party, the country, and maybe even the world depends upon getting the next nominee correct. Choose someone who cares about your interests more than his donors.

[END]
---
[1] Url: https://www.dailykos.com/stories/2025/3/15/2310471/-Biden-was-not-a-good-President?pm_campaign=front_page&pm_source=more_community&pm_medium=web

Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/