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Readers Respond

Don’t blame Biden for every hardship or stock market hiccup | READER COMMENTARY

In his letter to the editor, “Wake up, retirees” (Jan. 24), Tom Uzarowski invites retirees like me to blame President Joe Biden for inflation, COVID-19 issues, growing federal debt, border crises, empty shelves, supply chain disruptions, rising fuel costs and for disappearing nest eggs as stock markets fall. Anything else? Since entering my pension plan in 1977, the Dow Jones increased tenfold, the Standard & Poor’s 500 Index twelvefold, and the Nasdaq 34 times.

Bear markets came along — 2008 being the worst. My nest egg took a big hit! Since 1977, the Dow, S&P 500, and Nasdaq have grown ore under Democratic presidents than Republican presidents. Donald Trump had three “good” years out of four, with 17.5% growth, yet Bill Clinton enjoyed 18.4% growth across eight years. The finger points both ways, good and bad.

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Consider the issues President Biden inherited: Climate catastrophe. Rising seas. Refugee crises. Pandemic variants. Incivility and insolence. Inequity and injustice. Domestic terrorism. Racism and hatred. Disinformation and conspiracy. State and non-state aggressors, etc. The daunting issues he, and we, face have been around for a long time and cannot be solved in a year, let alone four.

So, fellow citizens and retirees, wake up! Take the long view. Avoid the myopic temptation to blame President Biden. Instead of applying Ronald Reagan’s shortsighted question: “Are you better off than you were four years ago?” when 2024 rolls around, ask it in more biblical terms: “Are we better of than we were 40 years ago?” The answer is, of course, yes and no. Celebrate the positive, work the problems, pull together.

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Let’s go, Joe!

Bruce A. Greer, Baltimore

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