“Look, we have dramatically reduced inflation from 9% down to close to 3%. We’re better situated than where we were when we took office, where inflation was skyrocketing. – Joe Biden April 10, 2024
But as the old expression goes, Democrats can’t rewrite history because the math never lies. Here is inflation rates reported monthly of the Trump to Biden transition of power:
Mar 2020 – 1.5%
Apr 2020 – 0.3%
May 2020 – 0.1%
Jun 2020 – 0.6%
Jul 2020 – 1.0%
Aug 2020 – 1.3%
Sep 2020 – 1.4%
Oct 2020 – 1.2%
Nov 2020 – 1.2%
Dec 2020 – 1.4%
Jan 2021 – 1.4%
It is a fact that President Donald J. Trump left Joe Biden the best United States economy in history… even with the Covid-19 pandemic taking its toll at the end of Trump’s term in office.
Then, Joe Biden assumed office and this happened:
Feb. 2021 – 1.7%
Mar 2021 – 2.6%
Apr 2021 – 4.2%
May 2021 – 5.0%
Jun 2021 – 5.4%
Jul 2021 – 5.4%
Aug 2021 – 5.3%
Sep 2021 – 5.4%
Oct 2021 – 6.2%
Nov 2021 – 6.8%
Dec 2021 – 7.0%
Jan 2022 – 7.5%
Feb 2022 – 7.9%
Mar 2022 – 8.5%
Apr 2022 – 8.3%
May 2022 – 8.6%
Jun 2022 – 9.1% (A 40 year high)
It is to be noted that in June of 1982 President Ronald Reagan (R) had just assumed office after Jimmy Carter (D) who had inflation running in the double digits so 9.1% was welcomed relief after just his first 5 months in office!
[Insert Presidential Inflation Rate Chart Here]
So with the epic failure of “Bidenomics”, of course Joe Biden has to double down on the lies.
“And we have a plan to deal with it whereas the opposition, my opposition, now talks about two things. They just want to cut taxes for the wealthy and, uh, raise taxes on other people.” – Joe Biden April 10, 2024
The fact of the matter is President Donald Trump did say two things but they were not those two things (another Biden lie). What President Trump said on multiple occasions was, “We are going to close the border and we are going to drill baby drill.”
Indeed, many economics experts feel the reason why Joe Biden tanked the economy so quickly was his curtailing locally sourced energy, specifically fossil fuels, which America has in abundance. This was proven under President Trump as he pushed for “energy independence” from other countries. Joe Biden focused on the climate cultists and their “Green New Deal”. Big mistake!
Other economics experts are sounding the alarm that Joe Biden is giving free handouts such that takers outnumber makers which unnecessarily raises our national debt. They question where all the money is coming from given to illegal immigrants and wonder if the end goal of the Democratic Party isn’t really the Cloward-Pivens Strategy to topple our nation. Giving any kind of aid to illegal immigrants is essentially aiding and abetting criminals.
“’Fraud Lasagna’ Gavin Newsome’s California ‘loses’ over 24 BILLION dollars for the homeless”
Another contributing factor to the Biden inflation is the Federal interest rates set by the Federal Reserve. When President Trump left office in 2021, the FRED rate for a 30-year fixed rate mortgage was 2.77%. Today, under Joe Biden, that rate is 7.89%. Along with home loan interest rates going up, car loans naturally followed.
Another lie of Joe Biden relative to the economy is he likes to talk about all the new jobs his administration has added to the economy when the truth of the matter is they are not new jobs at all but just old jobs coming back after the 2020-2021 pandemic.
Even this lie is laughably blowing up in Biden’s face but all those losing their jobs in retail sales are probably not laughing as seen in this graphic from Turning Point Action.
CONCLUSION:
Whether you call Joe Biden a pathological liar, a consummate bullshit artist, or a gaslighter, few Americans recognize him as a teller of the truth. On the other hand, Donald Trump, whether you like him or not, has a reputation for turning out to be right more than he is wrong.
President Trump warned that if Joe Biden saw office he would raise taxes on the middle class and replace all the regulations on businesses and industries he repealed. Joe Biden has done that. He predicted Joe Biden would lead the nation to a market crash and recession, if not second depression. While those two have yet to come to pass, many experts are worried about both and openly talking about them.
“Jim Rickards: What’s Coming Is Bigger Than A Recession…” – FREEINVESTING
In this video report Rickards highlights a recent news report of Zero Hedge:
People who lie do so to avoid or hide the truth. The truth is the American economy is a powder keg set to explode sooner or later. Congress spending money like drunken sailors (no offense to our Navy) is also accelerating this problem.
Buckle up! When truths come out from the lies it makes for a rough ride.
Copyright © 2024 by Mark S. Schwendau
