Joe Biden is panicking over these new devastating economic figures

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

Although the 2024 elections are well over a year away, Joe Biden and his administration have already hit the campaign trail. 

Reshaping the public’s opinion on Joe Biden’s poor economic record is among their top priorities. 

But now Joe Biden is panicking over these new devastating economic figures.

The economy is in decline – despite Joe Biden’s misleading claims

From the moment Joe Biden took the Oath of Office, the United States economy has been in a rapid state of decline. 

Nevertheless, Joe Biden hit the campaign trail and touted what he calls “Bidenomics.”  

However, a quick look at Biden’s economic record shows that he has little to brag about. 

Inflation is still much higher than it was when Donald Trump was President and consumer confidence is in the gutters. 

In fact, Dana Peterson, Chief Economist at The Conference Board, reported on Tuesday that “consumer confidence fell in August 2023, erasing back-to-back increases in June and July.”

Peterson added that “August’s disappointing headline number reflected dips in both the current conditions and expectations indexes.”

More specifically, the measure of how the average consumer feels about the economy dipped to 114.9 from 153.0.

Furthermore, per Breitbart News reported that “the share of consumers saying jobs are plentiful dropped to 40.3 percent from 43.7 percent in July. The share of those saying jobs are ‘hard to get’ rose to 14.1 percent from 11.3 percent.”

And when it comes to consumer fears about a pending recession, Peterson said that “although consumer fears of an impending recession continue to recede, we still anticipate one is likely before the end of the year.”

Dana Peterson’s prediction of a recession directly contradicts Joe Biden’s claim that the economy is strong. 

Earlier this month, Joe Biden spoke out about the economy and what he believes to be the successful result of the laughably named “Inflation Reduction Act.”

Biden said that “our economy is stronger and better than any industrial nation in the world right now. But we have more work to do.” 

He added that “we have a plan that’s turning things around. The Inflation Reduction Act is a part of that plan. Bidenomics is just another way of saying restoring the American dream.”

When addressing his critics, Joe Biden said “and all we hear from our friends on the other side of the aisle is what they claim is what’s wrong with America. Let me tell you and let me tell you, they’re telling us America is failing – failing. They’re dead wrong. They’re dead wrong. America isn’t failing, America is winning.”

Joe Biden’s arrogance is setting the American economy on a crash course for disaster

Even though statistic after statistic shows a recession is imminent for the United States, Joe Biden is confident that his tax and spend agenda is working. 

But the reality is that it is only a matter of time before the dollar weakens and inflation rises. 

Joe Biden’s attempt to tout his pathetic economic record is nothing more than a political stunt at the expense of the American economy. 

Patriot Political will keep you up-to-date on any developments to this ongoing story.