If you asked President Joe Biden how the American economy is fairing, you would hear countless statements about how inflation is actually decreasing, and how we're back on track to economic recovery. The good news is that this isn't quite the worst inflation rate our country has seen. That honor belongs to another failed Democrat in the White House, President Jimmy Carter.
While inflation has come down from a historic high of 9% to 6%, that's still an indicator of a fiscal slowdown that threatens to bankrupt our country.
You won't hear anything about how we just had to bail out another bank that collapsed, this time in sunny California instead of on Wall Street. Think about the last time that happened in this country. It was in the wake of teh 2008 economic collapse, where the media was pouncing on President Bush when he bailed out the banks in that situation. How is 2023 any different than 2008?
The same pundits who criticized Bush for his bank bailouts are supporting Biden when he takes the same actions. Not only that, but we had already recovered from the artificial recession that took place in the fallout of the Covid pandemic in 2020. So why are we not placing the blame squarely on the Biden administration, when all signs point to the collapse being a result of their failed policies?
The answer is simple: Biden has a D next to his name, and President Bush was unfortunate enough to have a R next to his name. Even though 54% of Americans believe the recession is thanks to Biden's policies, it seems that the media would have you believe it's the result of Donald Trump, Vladimir Putin, China, or even MAGA Republicans.
None of these people can be blamed while President Biden sits in the Oval Office. The truth is that the buck has to stop somewhere, and I'm tired of hearing all of these excuses from Democrats explaining why none of this is Biden's fault. If you want to be the economic leader of the free world, it's about time you start taking some responsibility.
If you'd like to read a more in-depth analysis on why Democrats continue to make excuses for the failed Biden economy, please read this article from Roll Call. An excerpt of the article has been copied below:
But when it comes to the economy, and, in particular, inflation, Biden can’t run away from reality. According to the Winston Group’s “Winning the Issues” survey (conducted March 1-3), 54 percent of people believe “Government policies under President Biden and Democrats in Congress have caused inflation to increase and prices to go up,” while only 30 percent didn’t believe that statement.
But Biden keeps trying to sell his economic policies as successful to an increasingly skeptical public. On Tuesday, he tried to sugarcoat the 6 percent Consumer Price Index number in a White House statement without mentioning the actual number.
“Today’s report shows annual inflation is down by a third from this summer at a time when the unemployment rate remains near a 50-year low. That is the slowest annual increase since September 2021. I will continue working to lower costs for hard-working Americans so they have a little more breathing room at the end of the month,” the president said in a statement.
Technically, inflation has come down — going from a 40-year high of 9 percent down to 6 percent. That is roughly a third, but wages aren’t keeping up, and people are certainly not breathing easier.
