Shock therapy

"...On Sunday, speaking from the Amazon rainforest in Brazil, President Joe Biden said that it would not be possible to reverse America’s “clean energy revolution,” which has now provided jobs across the country, primarily in Republican-dominated states. Biden noted that the U.S. would spend $11 billion on financing international responses to climate change in 2024, an increase of six times from when he began his term.

 

But President-elect Trump has called climate change a hoax and has vowed to claw back money from the Inflation Reduction Act appropriated to mitigate it, and to turn the U.S. back to fossil fuels. What Trump will have a harder time disrupting, according to Nicolás Rivero of the Washington Post, is the new efficiency standards the Biden administration put in place for appliances. He can, though, refuse to advance those standards.

Meanwhile Trump and his team are announcing a complete reworking of the American government. They claim a mandate, although as final vote tallies are coming in, it turns out that Trump did not win 50% of the vote, and CNN statistician Harry Enten notes that his margin comes in at 44th out of the 51 elections that have been held since 1824. He also had very short coattails—four Democrats won in states Trump carried—and the Republicans have the smallest House majority since there have been 50 states, despite the help their numbers have had from the extreme gerrymandering in states like North Carolina.

More Americans voted for someone other than Trump than voted for him.

Although Trump ran on lowering the cost of consumer goods, Trump and his sidekick Elon Musk, along with pharmaceutical entrepreneur Vivek Ramaswamy, have vowed to slash the U.S. government, apparently taking their cue from Argentina’s self-described anarcho-capitalist president Javier Milei, who was the first foreign leader to visit Trump after the election. Milei’s “shock therapy” to his country threw the nation into a deep recession, just as Musk says his plans will create “hardship” for Americans before enabling the country to rebuild with security..." HCR