The following article, Biden Sets a New Record for the Economy, was first published on The Black Sphere.
Joe Biden is 81 years old. So as my grandmother would say, “He’s set in his ways.”
And Biden’s ways don’t bode well for Average Joe America.
Google “Biden national debt”. What you won’t get is the truth; that Biden has added more debt faster than any other president. The closest article I got was a Politifact article that offered this nugget:
Biden left out that the debt under his watch is on pace to exceed Trump’s one-term debt accumulation by the end of his current term, Jan. 20, 2025.
The above mentioned article was written as a “fact check” of Biden’s lies on Trump. But why would we expect Biden to tell the truth about the economy? Remember: “he’s set in his ways”
As Biden’s tenure as “president” comes to an end, he desperately positions the economy as healthy.
“America has the best economy in the world,” he told NBC’s Today Show on Monday, laying out an argument that is central to his reelection campaign.
As Americans suffer mightily under Biden, he wants them to look elsewhere. Essentially Biden is saying,
“If you think I suck, then take a look at [insert 3rd-World craphole here].
Who cares how our economy compares to Britain or anywhere else. Other countries don’t set the pace of the world as the top country for GDP. America is expected to have a better economy than anywhere else.
Donald Trump put America back on the map. He rebuilt an anemic Obama economy, one built on printing (phony) money. They euphemistically called the borrowing of money, “quantitative easing”. That’s affirmative action-speak for letting the Black guy wreck the economy.
Biden now follows suit.
President Donald Trump routinely depicted the United States as a commercial wasteland while speaking at his Georgia political rally:
“We are a nation whose economy is collapsing into a cesspool of ruin whose supply chain is broken, whose stores are not stocked, whose deliveries are not coming.”
I can attest personally to the latter part of his comment. One of my cars was wrecked and we wait in month 5 for the seatbelt part before they can release the car. Our auto-shop owner said that the car might be there until November.
Here are the manipulated numbers:
U.S. gross domestic product was 2.5% in 2023, significantly outpacing that of other developed economies, according to a January report from the International Monetary Fund. The IMF projected that the U.S. will hold that lead in 2024, though it expects GDP to come down to 2.1%.
“The U.S. economy is leading the way for the global economy. It’s driving the global economic train,” Moody’s Chief Economist Mark Zandi told CNBC.
One publication wrote:
Even as interest rates spiked, the labor market has stayed strong. In March, U.S. private companies added 184,000 jobs, payrolls processing firm ADP reported on Wednesday, well ahead of the Dow Jones estimate of 150,000 jobs. It is the fastest employment growth the U.S. economy has seen since July 2023.
Fastest economic growth since LAST YEAR?! What kind of measuring stick are these people using?
Comparing Biden to Biden makes for some astounding numbers. Run inflation through the roof, then brag about it when it comes down?
What about the economic growth during the time of Trump? When Trump warned that he didn’t want the American economy to grow too quickly, having experienced multiple quarters over 3% GDP
They also mentioned the stock market:
The stock market has also made record gains over the past several months and housing values have soared, though they have now begun to decline as inventory improves.
Biden acolytes paint rosy pictures. The stock market under Trump grew much faster. And as I written and spoken, the Dow would be over 40,000 easily had Trump served his rightful second term.
Under Biden, the public faces a very different reality.
Interest rates impacted homeowners and sellers. Also, no matter how much money the average person earns, they remain underwater due to Bidenflation.
In only a few short years, Biden has punished Americans and particularly the poor with over 37 percent inflation, and no end in sight. Still, he promises to “tax the rich”. What the hell will that do for the poor, who by the way want to be rich.
Again, Biden has his hacks.
Moody’s Chief Economist Mark Zandi told CNBC, “The U.S. economy is leading the way for the global economy. It’s driving the global economic train.”
Besides sticky high prices that are projected to cool in the coming year, Zandi said that the fundamentals of the current U.S. economy are nearly ideal: “The economy is picture perfect. It’s hard to argue with it.”
The economy is picture perfect? For whom?
We get a much more real picture of Biden’s economy from economist Joseph Gagnon of the Peterson Institute for International Economics, a Washington think tank. He called Biden’s so-called success a factor of “policy and luck”.
Frankly, it’s neither. Biden is doing what Obama did. Injecting unsupported money into his anemic economy.
The U.S. government injected roughly $4 trillion of stimulus into the economy to support individual households and businesses. The massive debt by Joe Biden helps nobody. Electing Democrats will only add to the debt. Because Democrats pour money into failure.
Covid relief? Democrats spent trillions after hyping a disease that fit somewhere between a bad cold and a bad flu.
The education system failed. But instead of revamping it, Democrats finance bad outcomes. Americans should be tired of seeing no success or even a chance of success. Further, we should be tired of the draining of our resources for idiocy, like global climate farce or useless, endless Biden proxy wars.
Enough.
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