Joe Biden and his cronies have hit the campaign trail, and trying to up his economic record is a top priority.
Although inflation has simmered down, many economic experts agree that most of the facts and figures touted by Joe Biden are misleading at best.
But Kevin O’Leary’s latest warning has White House officials in a full blown panic.
Economic experts are sounding the alarm on Joe Biden’s crippled economy
Joe Biden’s top priority on the campaign trail is to polish his rough economic record.
One term Joe Biden has commonly used is “Bidenomics,” in which he attempts to take credit for lowering the inflation that many experts agree he created in the first place.
One such economic expert is Kevin O’Leary from the hit television program Shark Tank.
On Monday’s broadcast of Fox Business Channel’s The Big Money Show, O’Leary claimed that “we’re looking at a downsized America. I tell it like it is.”
He added that “three years ago, even 24 months ago, you get a mortgage at 4.5%. You’re lucky to get one at eight today. So that means the size of the house you’re going to buy is 20 to 25% smaller. That’s a downsize.”
These remarks stand in contrast to what Federal Reserve Chairman Jerome Powell told reporters about how “inflation has been coming down, but it’s still running well above our 2% target. The labor market has been re-balancing, but it’s still very tight by many measures. GDP growth has been strong, although many forecasters are forecasting that it will slow.”
Regardless of what Joe Biden and his officials claim, voters are not very pleased with his economic record.
In a poll released on Sunday conducted by the New York Times and Siena College, 81% of respondents said that the U.S. economy was either “Fair” or “Poor,” compared with just 19% who said it was “Good” or “Excellent.”
Biden campaign spokesman Kevin Munez responded to these poll results by saying that “predictions more than a year out tend to look a little different a year later.”
He added that “we’ll win in 2024 by putting our heads down and doing the work, not by fretting about a poll.”
Joe Biden has a lot more work to do if he hopes to peddle Bidenomics to the American public
Regardless of what Joe Biden says about the economy, the American public is simply not buying it.
An overwhelming number of Americans believe that the economy is fair at best, as evidenced by the New York Times most recent poll.
To make matters worse for the Joe Biden campaign, Biden’s approval ratings are very low, sometimes dipping down to 37%.
As Kevin O’Leary emphasized, consumers are getting less for more, which many voters are aware of every time they apply for a loan.
Unless Joe Biden makes significant changes to the way his administration handles the economy, then he will pay the price on Election Day.
Patriot Political will keep you up-to-date on any developments to this ongoing story.