Ever since Joe Biden took the oath of office, America has been in decline.
This is especially true for the economy, which appears to be on the brink of a collapse.
But Biden is squirming in his seat after getting this devastating economic news.
Joe Biden has destroyed Trump’s strong economy
Under President Donald Trump, the United States had one of the best economies in history.
Unemployment was at record lows, the stock market broke record highs on a daily basis, inflation was very low, and confidence in the American economy was sky high.
The exact opposite is true under President Joe Biden.
Now, many Americans would rather sit at home than work given the lavish welfare benefits Biden has created, and the stock market is imploding.
But perhaps the most concerning aspect of the economy is the alarming rate to which inflation is rising.
Skyrocketing inflation is the biggest threat to the American economy
Under President Trump’s watch, inflation growth was extremely low, which is largely why the economy was so strong.
On the day he left office, inflation growth was roughly 1.4%.
And according to most experts, the average inflation growth over the years is around 3%.
However, under Joe Biden inflation is skyrocketing out of control.
A new figure released by the Bureau of Labor Statistics’ shows that the Consumer Price Index was up 1.3 percent from last month.
Overall inflation is up .7% since last month.
This brings the total inflation growth to 9.1% for the year, which is the largest spike since 1981.
To say that this figure is alarming is an understatement.
The year is only halfway over and inflation is already 3 times normal levels.
Not only is this a kiss of death for people’s savings and retirement funds, but is causing consumer goods to become unaffordable.
Groceries, gasoline, airline tickets, cars, services and more are now more expensive than ever.
The people who this affects the most are everyday Americans who cannot afford to effectively lose 10% of their money.
What this means for the future of the United States economy
So the biggest question people are asking is how this spike in inflation will affect the economy moving forward.
In a nutshell, this constant rise in inflation does not bode well whatsoever.
Inflation is almost always a warning sign of a total collapse, which would be devastating to most Americans.
To make matters worse, many experts believe that inflation will only get worse going forward.
That means people will only continue to have their savings and retirement accounts be devalued.
Make no mistake, Joe Biden and the radical Left’s tax and spend policies are entirely to blame for this.
At this point, it seems as if Joe Biden and the socialists he has installed around him are doing everything possible to undermine Trump’s strong economy.
Unless something is done in a hurry, the economy will only get worse and the ramifications will be severe.
US Political Daily will keep you up-to-date on any developments to this ongoing story.