It’s been quite a few weeks for Joe “James Earl Carter” Biden.
Not only did the president sign budget-busting bills, including generous taxpayer gifts to wealthy Americans looking to buy expensive electric cars, but he also donated $5 trillion to the blue-collar It followed up that landmark move by forcing workers to subsidize college loans for professionals with six-figure annual salaries.
Biden has previously yelled that June-July inflation will be “zero,” but his own Labor Department figures show consumer prices remain more than 8% higher than they were a year ago. . Such delusions were foreseen when he claimed that his $3.5 trillion spending package, which he defends, would cost “zero dollars” in 2021.
Yet the economy is rocking while the president uses smoke and mirrors to minimize potential intermediate losses. Gasoline prices are still at historic highs, and small businesses, especially in the hospitality industry, are struggling to find workers despite wage increases. Growth has fallen for two straight quarters, but whether you call it a recession or not. The national debt continues to soar as the president and Democrats in Congress record record tax revenues.
Biden must be hoping for better economic news as November approaches. Let’s see. But as the Fed hiked interest rates, it could eventually slow job growth, boost unemployment, and bring back Carter-era stagflation. The Wall Street Journal reported Thursday that “central banks fear that the recent spike in inflation is not a temporary phenomenon, but represents a transition to a new and sustained reality.” rice field. By the way, the “reality” that the administration did everything it could.
The president’s approval rating this week stood at 41%, the highest since June, according to Reuters. While this is seen as a sign of progress by his supporters, Mr Biden hasn’t hit 50% in more than a year. Despite their renewed optimism, Democrats still face headwinds as the midterm elections loom.
Of course, Republicans have their own problems, too. Among them are inferior candidates who prefer to look back at the past rather than present a market-oriented vision for a prosperous future. But Mr. Biden is a gift that keeps on giving. His “achievements” — handouts masquerading as inflation-cutting laws and student-loan forgiveness — emphasized his allegiance to toxic progressive radicals, did nothing to attack the country’s economic problems, If Republicans fail to grasp that reality in the coming weeks, they deserve their fate in November.