Back when Donald Trump was calling the shots the United States economy was more prosperous than at any other time since 2008.
Just two years or so into Joe Biden’s Presidency the exact opposite is true.
And now Joe Biden flew into a fit of rage after he received this damning news.
Joe Biden’s horrible economic policies are setting America up for failure
Over the course of President Joe Biden’s time in the White House, the American economy has been pushed to its limits.
President Biden has completely embraced extremist Democrats’ spend now, tax later agenda, and the results are proving to be devastating.
Banks are starting to fail, inflation remains sky-high, and confidence in the American economy and dollar are plummeting.
The Left and their media allies have naturally blamed former President Donald Trump and Republicans for these failures, if they are willing to admit that there are any failures at all.
However, many experts are pointing the blame at President Biden’s disastrous monetary and fiscal policies.
One such financial expert is Wall Street Journal editor Holman W. Jenkins, Jr., who recently explained exactly how Biden turned what was going to be a “rocket ship” economic recovery from COVID prior to his arrival into the looming recession working class Americans now face.
“Mr. Biden essentially embraced the progressives’ modern monetary theory, which admittedly became universal amid the pandemic, positing that the U.S. government could print and spend money without inflation,” Jenkins wrote. “Mr. Biden arrived, as I noted at the time, with an “overwhelming priority to pass a superfluous domestic bailout package, on top of those already passed, so [he] could claim credit for the pandemic recovery already visible around the corner.”
“That recovery was shaping up to be a rocket ship,” he added. “By pouring unnecessary fuel into its engines, Mr. Biden contributed to the destabilizing rise in inflation and interest rates that spawned today’s bank panic, the end of which may not be in sight.”
Jenkins ended the editorial by pointing out that both “FDR and Obama can rightly say they inherited their meltdowns,” but in contrast, “Mr. Biden can claim authorship of his.”
In a nutshell, Jenkins is placing the blame on President Biden’s desire to take credit for ending the COVID pandemic for the issues America is facing right now.
Biden, along with every other Democrat and self-proclaimed “journalists,” were leading the charge to shutter businesses in 2020, artificially propping up the economy by printing as much money out of thin air as humanly possible, and then pumping it into the economy, sending inflation skyrocketing.
The worst has yet to come for the Biden economy
According to most measures, the worst has yet to come for Biden’s failing economy.
Years of what Jenkins refers to as “progressive modern monetary policy” – also known as socialism with a smiley face – has destroyed America’s once thriving economy.
At this point, it may not be possible to reverse course, and a complete collapse of the stock market, and presumably other markets, may be imminent.
Joe Biden is not prepared for such a collapse, and Americans should brace for impact.
US Political Daily will keep you updated on any developments to this ongoing story.