Every day the United States economy gets worse and worse as a direct result of Biden’s failed policies.
This souring economy is causing a real strain on the average American’s wallet, and there is no end in sight at this point.
But the Biden White House made one statement proving they’re in full denial mode about the failing economy.
The United States just got unwelcomed news about the economy
On Thursday, the Commerce Department announced that the United States economy shrunk by .9% in the second quarter.
This shrinkage, combined with a GDP shrinkage in the first quarter means that the United States is officially in a recession.
For some, this is a surprise, as many so-called experts projected positive GDP growth this quarter.
But for many, this is hardly surprising given all of the warning signs in the economy as of late.
Between 40-year high inflation rates, shattered supply chains, and labor shortages, it is amazing that the economy only shrank by .9%.
The truth is, this number is likely much higher, and regardless of what the official statistic is, Americans are hurting.
Despite this, the Biden administration is completely in La La Land.
White House Economic adviser Jared Bernstein told reporters “What I think every economic analyst is going to be looking at is getting under the hood of this GDP report. In the first quarter, GDP had a negative handle. And it was brought down by inventories and net exports.
Bernstein went on to claim “Some of the key components of underlying economic growth, especially consumer spending and business investment, were actually quite positive.”
So in a nutshell, the White House actually thinks they are doing positive things for the economy.
The truth could not be any further from this false reality.
Do not be fooled, the economy is in free fall
Although Joe Biden and his handlers want you to believe that they are improving the economy, the truth is they are destroying it.
Inflation is the most obvious form of proof that Biden is destroying the economy.
When Trump left office, inflation growth was at about 1.4%.
Currently, inflation growth is at 9.1%, which is the highest growth rate since 1981.
Most economists will tell you that a healthy inflation growth is around 2%, meaning that inflation is nearly four times higher than what it should be under Joe Biden’s watch.
This inflation growth is having a very real and profound effect on the pocketbooks of all Americans, poor and rich.
As it stands, the American dollar buys you less than at any time in recent memory, and Joe Biden’s far-left socialist agenda is to blame.
Believe it or not, printing more money to fund multi-trillion dollar political projects is not healthy for the economy.
It does not take a genius to figure that out.
And now that America is in a recession, expect things to only get more desperate and more debauched, especially under Joe Biden’s watch.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
