Biden’s Top Economic Adviser Quits as Stock Market Tanks, Will Join Kamala Harris’ Campaign

If nothing else, this announcement’s timing reminds us that the stench of failure emanates from every conceivable corner of the Biden administration.

According to The Associated Press, White House senior adviser Gene Sperling will leave his position to serve as a senior economic adviser to Vice President Kamala Harris, the presumptive 2024 Democratic presidential nominee.

That announcement came as the U.S. stock market plummeted on Monday in response to “Bidenomics” — which, to be clear, is a part of Harris’ legacy, just as much as it is Biden’s. In fact, the market crashed only six days after Biden bragged about having “cured the economy.”

Specifically, investors responded to a terrible July jobs report that could signal a recession.

Meanwhile, in a chutzpah-filled statement on Monday, Biden showered Sperling with unwarranted praise.

“Gene joined my administration as the only person to have ever directed the National Economic Council under two presidents, and has helped me execute a rescue plan that has led to one of the most equitable and resilient economic recoveries ever,” Biden wrote.

(Sperling served under Biden and former President Barack Obama.)

If by “equitable and resilient” the president meant “inflation-riddled and American Dream-killing,” then he had it right.

“I also looked to Gene as a trusted advisor on the economy and gave him some of the toughest assignments,” Biden added.

In other words, the president identified Sperling as a central figure in the administration’s entire economic policy.

Thus, the stench of “Bidenomics” attaches to Sperling, who will carry it with him to Harris’ campaign.

In fact, according to the AP, Sperling “frequently consulted” with Harris as an adviser during President Barack Obama’s administration.

The timing of the announcement provided ample fodder for administration critics and supporters of former President Donald Trump on the social media platform X.

“Great timing bud,” Students 4 Trump Chair Ryan Fournier tweeted, alluding to the ongoing stock market calamity.

BREAKING: Biden’s top economic advisor, Gene Sperling announced he is leaving the WH today.

Great timing bud. 🤦🏻‍♂️

— Ryan Fournier (@RyanAFournier) August 5, 2024

“All the rats are bailing off the sinking ship now that they’ve turned everything to [s***],” conservative commentator and former Assistant Secretary of the Treasury Monica Crowley wrote.

As of Monday afternoon, the hashtag “#KamalaCrash” was trending on X.

Best of all, the seriousness of the situation should finally focus voters’ attention where it matters.

For instance, conservative commentator Charlie Kirk posted a screenshot of a Fox News graphic showing polling data that gave Trump massive advantages on the economy in the swing states of Michigan (+31), Pennsylvania (+31) and Wisconsin (+38)

These numbers might get even better for Trump pic.twitter.com/YXgbHfULLk

— Charlie Kirk (@charliekirk11) August 5, 2024

In other words, if a recession ensues, then Harris cannot win on what will surely be the election’s main issue.

Nor will the timing of Sperling’s move work to her advantage.

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Michael Schwarz holds a Ph.D. in History and has taught at multiple colleges and universities. He has published one book and numerous essays on Thomas Jefferson, James Madison, and the Early U.S. Republic. He loves dogs, baseball, and freedom. After meandering spiritually through most of early adulthood, he has rediscovered his faith in midlife and is eager to continue learning about it from the great Christian thinkers.

Michael Schwarz holds a Ph.D. in History and has taught at multiple colleges and universities. He has published one book and numerous essays on Thomas Jefferson, James Madison, and the Early U.S. Republic. He loves dogs, baseball, and freedom. After meandering spiritually through most of early adulthood, he has rediscovered his faith in midlife and is eager to continue learning about it from the great Christian thinkers.