The U.S. economy was severely damaged by the pandemic and the effects are still felt today.
Biden and the Democrats claim they have the solution for saving the country from economic collapse.
But Steve Forbes just made one prediction about 2024 that will keep Joe Biden up at night.
Consumer prices are climbing and Biden’s approval rating is dropping
The Federal Reserve has been campaigning on raising interest rates to save American consumers from rising prices. Despite these efforts, inflation continues to surge and Americans are struggling to keep up.
While the increase in CPI slowed to 0.1% in March, it moved back up by 0.4% in April. The real-world effect saw prices climb by 4.9% from the same time in 2022. Even though this is down from the peak of 9.1%, it’s still significantly higher than pre-pandemic levels.
The skyrocketing inflation is taking a toll on Biden’s approval ratings. A recent poll published by the Associated Press shows Biden’s approval ratings at a new low of just 33%.
And now the Chairman of Forbes Media just gave his assessment of the faltering U.S. economy.
Steve Forbes: Prices are outpacing wages and the country is feeling “adrift”
Steve Forbes appeared on America’s Newsroom last week to give his perspective on the U.S. economy. He said that “even though it’s not officially in a recession, it’s sort of the economic equivalent of walking pneumonia.”
“Prices are still going up. Wages aren’t going up fast enough. There’s a feeling that the country is adrift,” Forbes explained, before adding that the economy is not sick enough “to put you in bed yet, but just dragging you down, draining your energy,” and creating “economy fatigue.”
Forbes also pointed to lawmakers and their struggles with the debt ceiling negotiations. He slammed them for not being able to “control spending even though the budget is $2 trillion higher than it was a couple of years ago.” He added that “people just throw up their hands” and say the other Party is “out of control.”
Then he suggested what he believes Biden should do next.
The Democrats should drop Biden over the “poor economy” and low public approval ratings
Forbes said Biden has a real problem and predicted that the President “will not be the Democratic Party nominee” in the 2024 election. He said that while the embattled President “can sweep the Hunter stuff away,” he should step down due to the country’s economic problems.
“You have a poor economy, you have a President who people feel is not up to the job anymore, certainly not for the next four years,” Forbes said, before adding that the economy has a “stench out there.” He implied that the Democrats have done major damage to their Party and that the only move is to dump Joe Biden.
Forbes did not say who he believes should replace Joe Biden, but he made it clear that Democrats “cannot have him running in November of 2024.”
Patriot Political will keep you up-to-date on any developments to this ongoing story.
