Joe Biden just received devastating economic news that nearly knocked his socks off

Photo by Gage Skidmore, CC BY-SA 2.0, via Flickr,

Although Joe Biden is doing everything in his power to convince Americans that his economic policies are working the truth is that they are not working at all. 

All across the nation working class families are struggling to make ends meet regardless of what Joe Biden claims about his economy.

But Joe Biden just received devastating economic news that nearly knocked his socks off.

The American economy is in bad shape

In recent weeks, President Joe Biden has hit the campaign trail, and touting his economic policies are among his top priorities. 

And on Twitter last week, Biden went as far to claim the economy is “growing.”

“More evidence that the economy is growing and inflation is coming down: the economy grew solidly in the first quarter, with real incomes up for Americans.” Biden claimed. “Annual inflation is down by around half from last summer – and is at the lowest rate since April 2021.  This is Bidenomics.”

However, many Americans are confused about exactly how President Biden has helped the economy with the cost of goods rising and inflation still at crippling levels. 

It is not just ordinary American consumers who recognize these flaws, but many economic experts also see through Biden’s claims. 

One such expert is Casey Mulligan, who serves as a University of Chicago professor and former chief economist at the White House Council of Economic Advisers.

On Fox & Friends last Friday, Mulligan explained how and why the Biden economy is causing pain for millions of American consumers.

“This is an across-the-board human capital crisis like we haven’t seen for decades, and that’s hurting our economy and it hurts regular people in their everyday lives,” Mulligan said.

“Workers are not able to be as productive as they used to be,” he added. “We see it at the school level, the kids aren’t learning. Wages aren’t keeping up with inflation. That’s the other side of the productivity coin.  And then a lot of people are dying, and not from COVID, from more than normal deaths, from traffic accidents, diabetes, heart attack. I could go on and on.”

Joe Biden’s economic record is flatly terrible

Later in the Fox & Friends segment, Mulligan went on to compare President Biden’s economic record to his predecessor, former President Donald Trump.

“President Trump did something, the first thing that had ever happened in American history: he had a budget for the regulators,” Mulligan said. “And he comes from business. No businessman runs his business without a budget for his managers.”

“And so he gave all his regulators a budget and we saw amazing results from that,” he added. “They were cutting out old regulations, cutting out unneeded regulations, and they were putting in some new ones that they felt were needed.”

Based on the testimony of a number of highly respected economic experts, Joe Biden’s economy is not working for America, and the millions of hardworking Americans who are punished by his radical policies. 

US Political Daily will keep you updated on any developments to this ongoing story.