Fiscal Management

In Tuesday’s Progressive-Democratic Party primary debate, Joe Biden made the claim that he couldn’t afford child care in 1972 on his then-income of $42,000/year.

Jan Brewer, ex-governor of Arizona, had a thought on that via Twitter:

“Jan Brewer @GovBrewer · 12h
“Biden just said he couldn’t afford child care in 1972 when he was making $42,000/yr. Today, that’d be $256,000/yr.  Really Joe?  If you can’t run your own household efficiently, I don’t think you can run our country!

“Vote @realDonaldTrump!”

She used an inflation rate of a bit over 3.5% to get there. I used an inflation rate of 3% to get a bit under $174,000. Over that long time frame, inflation rates bounce around; our two estimates, though, effectively bracket the situation.

Brewer’s point is eminently valid. If Biden can’t hack his own household budget, how can he be expected run our nation’s budget?

Oh, wait—the Progressive-Democrat thinks that, as President, he’ll be able to give himself a raise at convenience through tax increases and to borrow at will because…government.

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