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LINDA MCMAHON: It’s Not A Happy Labor Day For American Workers Under Biden’s Economy

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Linda McMahon Linda McMahon is the Chair of the Board of the America First Policy Institute
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The spirit of the American worker is the very foundation of our great Nation. There is no force more potent, when left to be free, to prosper, and to flourish. From 2017 to 2020, American workers experienced once of the greatest and most robust economies in U.S. history, which featured the lowest unemployment rate in half a century, consistent wage increases, and a clear path out of poverty for millions of low-income Americans.

Unfortunately, as we take time this Labor Day to reflect on the state of the American worker after two and a half years under the Biden Administration, the current reality is much more grim. Workers today are struggling—and no amount of “Bidenomics” will change that. 

Economic indicators tell a bleak story. Inflation hit 40-year high last year due to the Biden Administration’s reckless $6 trillion spending spree, and prices have risen by 17% under this administration. Interest rates have continued to increase. And for just the second time in history, Fitch Ratings has downgraded our Nation’s long-term credit rating. (RELATED: JOHN STOSSEL: Personal Choice Beats Government Control Every Time)

Underneath all this economic jargon is a simple reality: American workers know that this economy is not working for them. Their salaries have not kept up with inflation, and 61% are living paycheck to paycheck. Under a mountain of paperwork requirements and new regulatory burdens, their productivity has declined. Credit card debt has hit a record $1 trillion. More of them have had to pull from their retirement savings just to make ends meet. At the same time, the Biden Administration is trying to limit worker flexibility by eradicating many kinds of freelance and independent contracting jobs, all in the name of allegedly protecting workers.   

Even the workers who believe they have extra protections—those who belong to labor unions—have faced their own challenges. Union contracts typically last for years at a time, so union workers have seen their pay increase more slowly than that of their non-union counterparts, while dealing with the same levels of inflation.

Even more troubling, the Biden Administration has continued to push policies that will destroy hundreds of thousands of union jobs in the coming years. Requiring two-thirds of U.S. auto sales to be electric vehicles in the next 10 years will eliminate an estimated 117,000 auto manufacturing jobs nationwide, because electric vehicles require significantly fewer parts and assembly workers. Unfortunately, union leadership has gone along with the Biden Administration’s plans, sacrificing their members’ jobs and prospects in the process. 

Small business owners, too, are pessimistic about the future. With key provisions of the Tax Cuts and Jobs Act set to expire in 2025—and some, such as the ability to fully expense the cost of new equipment, starting to phase out this year—the Biden Administration has shown no interest in easing the tax burden on small businesses. 

At the local level, increasing retail theft has businesses locking up basic household goods, employees fighting off thieves themselves, and major retailers closing their stores. Shoppers, meanwhile, feel less safe in stores and often buy fewer goods to avoid the hassle. This vicious cycle could be solved if more communities chose to fully fund their police departments and prosecuted theft instead of ignoring it. 

It’s no wonder that this year, “quiet quitting” and “lazy girl jobs” have been trending, especially with younger members of the workforce. The labor force participation rate—the number of people in the workforce or actively looking for a job—remains nearly two million workers lower than during the Trump Administration. American workers know that the current economy is being controlled by an administration that does not have their best interests at heart. (RELATED: STEPHEN MOORE: Biden’s Killing The American Dream Of Homeownership)

The path to rebuilding our Nation’s prosperity requires a reversal of these policies and a return to an economic agenda that puts American workers first. Policymakers at all levels should be cutting taxes, reducing regulations, and enabling workers to pursue employment that works best for themselves and their families.

America was not made great by central planners and paternalistic governments, but by the blood, sweat, and tears of American men and women. This Labor Day, we would do well to honor their hard work—and respond by championing policies that empower them. 

Linda McMahon is the chair of the America First Policy Institute (AFPI), as well as AFPI’s Center for the American Worker. She formerly served as the administrator of the Small Business Administration under President Trump.

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

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