Remember the Edsel? Electric Vehicles Could Be Next

The numbers pointing to swing in sentiment against these contraptions are staggering.

White House via Twitter
President Biden in an electric Hummer. White House via Twitter

Want to hear a great stat? A Gallup poll just asked voters about electric vehicles. This is perhaps the biggest centerpiece of President Biden’s policies. He talks about it all the time.

His green bureaucracy spends their days telling Americans how they’re supposed to live, what they can and cannot buy.

You know the litany: dishwashers, microwaves, gas furnaces, gas stoves, shower heads, gas-powered cars… Oh my gosh, the list is practically endless.

All in the name of climate change. 

Our friend Bjorn Lomborg estimates that global government spending on climate change each year is targeting $27 trillion — annually — and it hasn’t moved the needle one bit.

Back to Gallup’s EVs. In just one year, the percentage of people who might consider buying an EV has dropped to 35 percent from 43 percent.

The percentage of people who are seriously considering buying an EV has dropped to 9 percent from 12 percent.

And those saying they’d never buy an EV has gone up to 48 percent from 41 percent.

These are staggering numbers. And car salesman Joe Biden is out there selling these lemons.

Know what? Mr. Biden’s EVs are the modern-day Edsel of our time.

Remember Edsel? Ford brought the car out in 1957, and it promptly became one of the biggest failures in automotive history. And three years later, they had to bury it.

So, I’m going to bet at some point in the presidential campaign, Mr. Biden stops talking about EVs. Give that a “maybe.”

Obama adviser David Axelrod has told Mr. Biden to drop Bidenomics completely, and instead adopt more of a Clintonite message of “I feel your pain and we’re working hard to do better.”

That’s not what Mr. Biden’s doing, though. Instead, he’s blaming Donald Trump for everything that’s going wrong.

Inflation in particular, which is not only stubborn, but is actually moving significantly higher, like an inflation “thief” stealing middle-class wages in the middle of the night. Hat tip to the Wall Street Journal.

And there aren’t going to be any Fed rate cuts to juice Mr. Biden’s sagging election-year economy. Real worker wages are again going down.

Over the course of his presidency, real hourly wages have dropped 2.5 percent. Real weekly wages have dropped 4.5 percent.

Mr. Biden keeps blaming Mr. Trump, who was inaugurated nearly 7 years ago and first declared his presidency almost 9 years ago. Enough, already!

This is the dumbest blame game in history. Ok, fine, let’s look at the scoreboard.

Under Mr. Biden, the level of the CPI has gone up over 19 percent in 38 months. His average inflation rate per year is 6.1 percent. It’s the highest in 40 years.

Under Mr. Trump, for his entire four-year term, the CPI went up 7 percent, or 1.9 percent yearly. Blame Trump? For what, exactly?

So, you think Mr. Biden would try to convince working folks that he’s going to bring down inflation by, for example, cutting government spending?

Now, there’s a thought. He won’t say that, though, because (a) he doesn’t believe it, and, (b) he’s not doing it.

We’re halfway through the Fiscal 2024 budget year, and the deficit is now running at more than $1 trillion. Halfway through the year.

On track for $2 trillion for the entire year. Which is basically what the CBO baseline shows — roughly $2 trillion deficits, as far as the eye can see.

That is, most certainly, not going to reduce inflation and increase the take-home pay of working folks or solve their affordability crisis. 

And, coming back to Mr. Biden’s centerpiece Green New Deal policy… The misnamed Inflation Reduction Act is probably going to cost around a trillion dollars in the years ahead.

For what? For cars that people don’t want? For federal slush funds for politically favored investors and producers who love the greatest corporate welfare in history but whose companies are going to go bankrupt in due course?

 Have you seen a lot of electric chargers in your suburban neighborhoods? If your EV battery runs out, can you seriously call a tow-truck with a handy electric charger connection in his vehicle? Doubtful. 

Have you taken a look at auto-insurance rates, which have blown sky-high, 20 percent annually in the last quarter, because EVs are more dangerous and harder to repair?

Mr. Biden, though, keeps blaming Mr. Trump for everything. And he keeps spreading untruths about Mr. Trump’s record and his — Mr. Biden’s — own spending and deficits and debt creation.

That’s not a platform. That’s not a future vision. Every time Biden lies, he diminishes confidence in his ability to lead in government.

One big reason his economic polls are in the high 20s or low 30s is that people have no confidence that his policies will provide future growth and opportunity.

Actually, they don’t even know what his policies are — except blaming Mr. Trump. And that’s a political loser if I’ve ever seen one.

From Mr. Kudlow’s broadcast on Fox Business Network.

The New York Sun

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