Biden’s big-government agenda creates lucrative job market as administration officials cash out
Timothy P. Carney
Video Embed
Revolving-door lobbyist-and-consultant Ron Klain is exiting the White House after two years as Biden’s chief of staff, and is being replaced by revolving-door-investor-and-consultant Jeff Zients. Klain’s not the only one cashing out, and Zients isn’t the only one revolving in.
In fact, early 2023 could go down in history as the greatest revolving-door vortex in American history.
NO ITS NOT RACIST TO SUPPORT BIG FAMILIES
Politico has a telling magazine piece on the Biden revolving door, which features Lyles Carr, who runs the McCormick Group. The McCormick Group exists precisely to help high-ranking government officials land jobs with the private-sector companies they subsidize and regulate.
Politico’s finding: “Business, Carr says, is good.”
Biden alumni are cashing out to never-before-seen prices. One reason: The Biden administration and the Democratic Congress have done so much to increase business’s dependence on government:
“Biden veterans pondering a shot at the corporate job market can also credit their good fortune to some of the things the administration did that may have rankled prospective employers in the for-profit world: Regulatory pushes around things like antitrust or green technology can create bewildering new rules. Who better to help firms navigate opportunities and pitfalls than the folks who dreamed up the rules in the first place?”
More green subsidies mean more industry jobs for the public servants who created or administered green subsidies. More environmental regulations mean more industry jobs for the public servants who crafted the regulations.
The hiring boom, Carr explains, “goes back to the regulatory aggressiveness of the administration in areas like environment and natural resources.”
Plus, the massive amount of spending means massive amounts of lobbying by the corporations who want access to it. “So the infrastructure bill passed. The money for that is starting to flow. How do you tap into that?”
Regulators and bureaucrats who increase the size of government are making jobs for themselves.
The article explains that these are literally new jobs: “probably 85 percent of the time, they go into a position that was created for them or restructured to fit.”
That means that congressional action and administrative action that increases government cause corporations to change how they invest. Specifically, it causes them to invest in government relations rather than other things, such as product development or research and development.
The insiders benefit. Everyone else loses.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER