Ironically, two seemingly unrelated articles in today's New York Times reflect much of what is wrong with the United States, at least in an economic sense. One op-ed, titled "The Tragedy of Joe Biden," is by Peter Coy, a regular columnist for the Times. The other one, titled "A Big Idea to Solve America's Immigration Mess" is a Times editorial.

In his article, Coy expresses sympathy for Joe Biden. He says that Biden just didn't get the credit he deserved for what he did in managing the economy. He laments, "He had some remarkable achievements when it comes to the economy, but he couldn't shape the narrative around his own record." Coy writes about Biden's pride in having created more than 16 million new jobs and his success against inflation.

What's wrong with Coy's point? Like so many other people, he doesn't question the notion that in the United States, like in other countries, it's the job of a president to manage the economy. A presidentially managed economy is now just taken as a given. No one questions it. And if a president does a good job at managing an economy, he gets reelected. If he doesn't, the voters reject him. As the adage goes, "It's the economy, stupid."