Americans struggling financially are not out of the woods yet.
In fact, most experts predict the worst is yet to come.
But Joe Biden is mocking Americans suffering economic hardship by repeatedly insisting it doesn’t exist.
Biden’s constant gaffes about economic recovery are concerning
President Biden has been giving himself a pat on the back for lowering gas prices.
If you recall, when gas prices went up it was not his fault.
You see, it was “Putin’s price hike” and the pandemic, of course.
But now that the average gasoline price dropped for a time, he was quick to claim credit for it.
One of the big gaffes here is the prices he quoted are way off – by a lot.
Gasoline and grocery prices are still through the roof for average Americans.
And then Biden claimed the unemployment rate was the lowest in decades.
It is finally sitting close to the same rate as when Trump left office.
And regarding overall economic recovery, Biden gives credit to Democrats and their pandemic relief legislation.
Democrats’ relief bill took place after two other economic relief bills – and most of that money went to left-wing special interests.
The prior two, more targeted “relief” bills, were enacted under the Trump administration.
The economy was growing out of the pandemic’s government-enforced lockdowns long before Biden took office.
So, it appears, Biden conveniently forgot about past economic performance by the last President – a Republican.
How the White House agenda makes matters worse
Beyond trying to control a losing recovery narrative, Biden administration policies have slowed down our growth.
One may recall that Biden canceled the Keystone XL pipeline as soon as he walked in the front door of the White House.
And the White House would love more taxes on domestic energy producers.
It is no wonder why gasoline prices skyrocketed – and it was not Putin and the pandemic.
Then the American Rescue Plan cost over $2 trillion dollars.
After that was passed, Americans faced the highest inflation in 40 years.
And in the middle of this inflationary economic crisis, trillions and trillions are included in Biden’s budgets.
Between Biden bucks and Biden budgets, there is not a lot of room for deficit reduction.
Biden’s deficit-driven spending is putting the Federal Reserve in a bind
Fighting against the energy sector has contributed to high gasoline prices.
Out-of-control spending has contributed to skyrocket inflation.
Vaccine mandates exacerbated the supply chain crisis.
But the current administration did not stop there.
Don’t forget Biden’s recent student loan handout that added more fuel to the inflation fire.
It is anti-growth spending policies like these that continue to strain the economy.
Besides poor economic conditions, reckless spending really limits how the Federal Reserve can react.
The Federal Reserve has only a few tools in its arsenal, including interest rate hikes.
But the rate hikes are a response to spiking inflation.
Spiking inflation is a response to reckless big government spending.
Between rate hikes and inflation, life is much harder on Americans than just twelve months ago.
And Putin and the pandemic can’t be scapegoats for this economic crisis anymore.
US Political Daily will keep you up-to-date on any developments to this ongoing story.
