In the four months between Abraham Lincoln’s election in 1860 and Inauguration in 1861, outgoing President James Buchanan did Lincoln – and the nation – no favors. Denying the right of the South to secede, Buchanan conversely insisted he could do nothing about it. He took no action to reinforce the military, retained cabinet members who were working on behalf of seceded states, and blamed the entire mess on the voters who had elected Lincoln.
Buchanan’s actions during his lame duck period have received characterizations ranging from incompetence to treason. While America is not confronting a crisis like the one facing the nation in 1860 and 1861, it would appear Joe Biden may be channeling his predecessor during his lame duck period. Worse, he’s doing something Buchanan did not do: aggressively imposing the failed policies that led his party to defeat.
Some of Biden’s efforts, cynically called “Trump proofing,” have been noted by the mainstream media. From selling the assets that would build the border wall, to awarding a $6 billion loan to an unprofitable electric vehicle company, to approving a waiver giving California the go-ahead to ban gas and diesel vehicle sales by 2035, Joe Biden has been doing his best to hinder the Trump Administration’s ability to enact the course corrections for which Americans voted on November 5.
Among the best examples of the Biden Administration’s failures can be seen in Commerce Department’s awarding generous funding through the CHIPS Act to Intel. The CHIPS Act, and its provisions to award grants based on the Democratic Party’s social credit priorities, have undermined its effectiveness from the start. Requiring mandates compliant with the Green New Deal, racial and union preferences, subsidized housing, and government seizure of “excess” profits, the Commerce Department’s implementation of the Act did not invite participation by those with even limited business acumen.
Intel, however, still managed to be awarded $8.5 billion in CHIPS Act funding, up to $11 billion in federal loans, and $25 billion in tax incentives. Considering the firm announced the layoff of 15,000 employees and has yet to develop the advanced chips required to power Artificial Intelligence (AI), taxpayers are not getting a return on their substantial investment.
Throwing money at unprofitable ventures and imposing regulations hindering profitable ones may be the preeminent legacy of the Biden Administration. It has been remarkably skilled at picking – and funding – losers. When not awarding losers, they’ve managed a feat once thought impossible: spending billions in government funding with no result. Consider the Broadband Equity, Access and Deployment Program (BEAD), intended to expand broadband. After a $42 billion investment of taxpayer funds, the program has expanded broadband access to nobody.
As the Administration enters its final days, with its leader long since having entered his personal twilight, it is intent on deleteriously imposing the worst of its policies. From doubling down on the Green New Deal and implementing even more restrictive regulations on industry, Joe Biden’s goal of spending every dime of the funds for his administration’s failed programs before the clock runs out at noon on January 20 demonstrates a disdain for American voters not seen since the waning days of the Buchanan Administration.
For more than 160 years, James Buchanan has consistently been ranked among our worst presidents. His descendants may well take comfort in knowing he’ll have a recent White House occupant soon joining him at the bottom of those rankings.
