Feb 2, 2023
When President Joe Biden delivers his State of the Union address on Feb. 7, he'll blame Republicans for his failures and take credit for things he hasn't done. That's what he does. It's what many Democrats are doing intensely right now - a strategy I wrote about recently - but Biden has a special sauce that allows him to get away with it more than any of his colleagues. Unofficially launching his reelection campaign, he'll cast the GOP as the inflation party for opposing his inflationary Inflation Reduction Act, which spent hundreds of billions of borrowed federal dollars on subsidies. Biden will boast that inflation is falling fast without giving credit where it is due, to the Federal Reserve raising its target interest rate from zero to 4.5% since March. This was necessary because Biden's policies stoked the worst inflation in 40 years. But he will get away with his casuistry. He'll also boast of cutting deficits faster than any president before despite t