BIDENOMICS: Intel’s massive job cuts come after it received $8.5 billion in taxpayer money.

The decision to cut jobs after the influx of federal funds has raised some eyebrows.

“Someone help me understand how this is smart or fair,” “Making Money” host Charles Payne wrote on X Saturday. “The Biden-Harris administration has handed billions of dollars to the richest corporations ever, including many foreign companies.”

Intel has around 116,500 workers.

The semiconductor giant received federal subsidies under the Biden administration’s CHIPS and Science Act that was signed into law in 2022 to advance semiconductor manufacturing projects in four U.S. states.

The bipartisan legislation aims to improve competition with China by strengthening U.S. manufacturing, supply chains and national security and investing in research and development, science and technology.

Republicans were fools to sign on to Biden’s budget-busting attempt at emulating Japan’s failed “Japan Inc.” industrial policy of the ’80s.