Because, you know, whether it’s high taxes, regulations on business, or ever-expanding federal debt, the economy can take anything!
Coming soon to a Main Street near you: The Biden Recession. Of course, it may not occur until there’s a Republican administration, in which case the press will blame to GOP.
According to the Washington Examiner:
President Joe Biden will commit the United States on Thursday to cutting its greenhouse emissions 50% to 52% by 2030 in remarks kicking off his climate summit event with world leaders.
Biden administration officials say the target, one of the most aggressive in the world, is achievable despite the transformation of the fossil fuel-dependent economy it would entail.
And they argue it’s necessary in order to keep the U.S. on pace for net-zero emissions by 2050, a marker the world must meet to achieve the goal of the Paris Agreement to hold warming to no more than 1.5 degrees Celsius.
“As much as I would like to say we know what 2030 is going to look like with certainty, the reality is our ability to achieve continues to be improved every single day by innovation,” an administration official said on a press call.
The aggressive target is symbolic and nonbinding without being approved by Congress. But Biden hopes it restores U.S. credibility and pushes other countries to submit more ambitious plans to the United Nations as part of the Paris Agreement, which former President Donald Trump rejected.