President Joe Biden has recently been the subject of internet mockery after making a factual error during a speech. Referring to the former Speaker of the House, Nancy Pelosi, Biden praised her for her work in rescuing the economy during a time before she was even born. This embarrassing mistake has further fueled criticism from conservative-leaning voices who argue that Biden is not fit to lead the country.
President Joe Biden suffered an embarrassing slip-up while attempting to praise Nancy Pelosi, the former Speaker of the House. In a recent address, he credited Pelosi with “rescuing the economy in the Great Depression,” which left the social media universe completely perplexed given that Pelosi was not even born when the Great Depression hit America.
The Great Recession hit America between 2007 and 2009, causing a significant downturn in economic activity. It spilled into global economies, leading to a global recession in 2009. The crisis started when the U.S. housing market went from boom to bust, causing the value of mortgage-backed securities and derivatives to plummet.
The President’s gaffe spurred widespread trolling on social media channels. However, it is a sad testament to the apparent ignorance of the current holder of the highest office in the United States. His confusion between the Great Depression and the Great Recession is symptomatic of a much broader issue; his inability to comprehend the country’s history.
It is no surprise that Biden’s historical inaccuracies were met with ridicule and scorn. After all, it is not like the nation’s economic struggles are new or that there isn’t a clear understanding of the country’s past financial crises. From the Black Thursday stock market crash of 1929 that set off the Great Depression to the Lehman Brothers bankruptcy and housing market collapse in 2008 that caused the Great Recession, the country has faced significant economic upheavals before.
What is baffling is that the incumbent president of the United States, who claims to have “cognitively tested” and exceeded all the exams’ expectations, continues to show signs of confusion and contradicts himself.
President Joe Biden’s slip-up while addressing Nancy Pelosi may seem like a mere mistake, but it is reflective of a larger problem. Biden’s lack of understanding and remembrance of historical economic events is worrying. The confusion between the Great Depression and the Great Recession highlights a troubling ignorance of the past. The Great Recession was caused by misguided government policies, just as the Great Depression was the result of the government’s failure to act appropriately. Conservatives call for a responsible government that learns from past mistakes. Let us hope that the Biden administration takes the necessary steps to educate themselves on economic history to avoid repeating past errors.