Left-wing Democrats are facing a backlash
That President Biden has failed to win Congressional approval for most of his huge spending bills and is sinking in the public opinion polls seem to be the least of their problems.
IN POLITICS, very much like in one's personal life, there comes a point when reality bites, when you conclude that Prince Charming would not be knocking on the door anytime soon; that you may be a good tennis player but would not end up competing in Wimbledon; that your startup firm was not going anywhere.
Economists refer to the "recognition gap" - the time delay between when an economic shock, such as a sudden boom or bust, occurs and when economists, central bankers, and the government realise that it has happened.
Along those lines, US President Joe Biden and the leaders of his Democratic Party are now reaching a point when the lag between their post-2020 election hopes and dreams, and the political reality that they face, is gradually closing down.
TRENDING NOW
8 public officers referred to police over property buys near unannounced MRT stations: Chan Chun Sing
Retrenched PMETs who return on lower pay see median 25% wage cut
Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose
Vietnam’s northern provinces, not Hanoi or Ho Chi Minh City, are powering near 10% GDP growth
