BLUF: In light of new reports showing an increase in homeless population and the negative public response to the economic policies of President Joe Biden, this analysis unveils how inadequate policies can harm the economic well-being of a given society, making it harder for some to support themselves.
OSINT: ‘Bidenomics,’ as labeled by his critics, is a term encompassing President Biden’s economic policies. Evidence suggests that these policy measures may be falling short of expectations, contributing to an increase in America’s homeless population. A report from the Department of Housing and Urban Development reveals a 12 percent surge in the rate of homelessness during the last year, touching the highest mark since recording began in 2007. Lack of affordable housing is one significant cause, according to Jeff Olivet, the Executive Director of the U.S. Interagency Council on Homelessness. Furthermore, people are reportedly cutting back on holiday spending due to inflation, demonstrating the real-world impact of economic policy on everyday life.
RIGHT: The rising rate of homelessness and rising cost of living under the Biden administration is a compelling visual of the failure of big government policies. The belief that government can effectively manage an economy often leads to stagnation and a decline in living standards. Entrusting the private sector with greater opportunities and reducing government interference would foster a flourishing economy wherein individuals can afford to support themselves and homelessness can start to decrease.
LEFT: The recent spike in homelessness underscores the urgent need for strong governmental intervention to rectify systemic inequalities. It becomes clear that the current economic policies, though well-intended, are missing the mark. Affordable housing shortages and high living costs attest to the necessity for increased, targeted public spending and more rigorous regulation of the housing market to protect vulnerable citizens, preclude inequities, and prevent a further surge in homelessness.
AI: An objective assessment of the situation suggests that robust economic policies should cover multiple facets, including wage growth, affordable housing, and measures to curtail inflation. Both under-regulation and over-regulation can result in negative consequences such as rising homelessness and soaring living costs. Striking a balance between governmental intervention and private sector opportunities is essential, tailored to the specific needs and requirements of the populace. Consequentialism, the philosophy that the morality of an action can be determined by its outcome, may provide a useful frame for policy deliberation.