Tuesday, President Biden used his veto power for the first time, and I think history will record it as one of the worst vetoes of all time, and his justification for it as one of the most shameless lies on record.
Please bear in mind that I try to look for the good in people, not make negative assumptions, consider other points of view, etc. etc. But there’s just no other way to slice it.
It all started when Biden (stop me if you’ve heard this before) reversed a Trump executive order requiring retirement fund managers to consider only return on investment and not use the money entrusted to them to push political agendas. Biden’s Labor Department instead encouraged them to use the money to pursue his “climate change” and leftwing activist “ESG” (environmental, social and corporate governance) agenda.
The GOP House and all Republicans and two Democrats in the Senate passed a bipartisan bill to protect the retirement accounts of Americans by requiring managers to consider only maximizing returns, not pursuing political agendas. That’s the bill Biden vetoed, and then tried to defend it by telling America’s seniors that he was actually the one protecting their savings because the bill would make it “illegal to consider risk factors that MAGA House Republicans don’t like.”
By any standards, that is an outrageous, cynical, bald-face lie. He should be thoroughly ashamed of himself, for the order, the veto and the lying explanation for the veto. It’s a triple-decker sandwich of shame. And he’s rightly being shredded from all sides for it.
Sen. Joe Manchin fumed, “This Administration continues to prioritize their radical policy agenda over the economic, energy, and national security needs of our country, and it is absolutely infuriating.”
It’s bad enough that seniors are already struggling with rampant inflation caused by this President’s idiotic radial policies, as well as a stock market that’s cost most of them up to 30% of the value of their IRAs and 401Ks. Now, he’s actively encouraging the people in charge of their dwindling savings to prioritize leftist nonsense over protecting and increasing their money.
I can describe the wisdom of that policy in three letters: