Biden continues his impressive, yet enraging streak of American bankruptcy

President Trump left Joe Biden a rapidly growing economy, one where red states were quickly reopening — there was low inflation, and three vaccines developed in record time by mobilizing both the private sector and government.  A New York Post article said:

Republican-run states such as Florida, Texas, Utah and the Carolinas enjoyed a swifter economic recovery from the pandemic compared to Democratic-leaning states which saw residents and companies leave for lower-tax havens[.]

Biden and the Democrats continue to believe that government is the solution to all problems.  Biden promised to reverse Trump's successful policies by issuing countless regulations, raising taxes and destroying the fossil fuel industry, which directly and indirectly supports tens of millions of jobs.  On day one, he blocked an environmentally sound pipeline and drilling on federal lands.

That action sent the message to oil traders, speculators, and OPEC that we would no longer be a major competitor and the price of oil took off, along with overall inflation. 

The official inflation rate was 1.4% in January 2021, when Biden took office, and is 8.6% today.  The poor and middle classes and small businesses are being decimated.  Inflation is at a 40-year high.

Biden appears to be ready to lift tariffs on Chinese products as he pretends to care about inflation.  The tariffs didn't materially raise inflation during Trump's term, so why would removing them reduce inflation now?

Why would anyone intentionally make us more dependent on China when China remains a significant cause of supply chain problems, all while helping Russia?

Biden said he was releasing oil from our strategic reserve to lower domestic prices — so why is it being sent overseas, including to China?

Biden believes that a solution for the manufactured inflation is for people to buy $60,000 electric cars, the government to print more money to hand out more "free" stuff, and to raise tax rates.  Pure brilliance! 

We are repeatedly told by Biden, Yellen, Powell, and others that the U.S. economy is strong, and the balance sheets of Americans and companies are strong. 

Which of the following facts supports those statements?  The diminishing of the U.S. economy by 1.6% in the first quarter?  The Federal Reserve Bank of Atlanta lowering its second-quarter GDP projection to -2.1%?  Or what about the statistics that show 33% of small businesses are unable to pay their rents on time?  From the article:

Thirty-three percent of all U.S. small businesses could not pay their May rent in full and on time, up from 28% in April, according to a survey from Alignable, a small business referral network. And 52% said rent has increased over the past six months.

Credit card debt has risen $129 billion — 14% just in the last year — and 56% of Americans have less than $1,000 in a savings account, and 64% of the U.S. population now lives paycheck to paycheck.

The savings rate is rapidly decreasing.  A MarketWatch article said:

The personal savings rate, the amount of disposable income that people save, was just 4.4% in April, according to data from the U.S. Bureau of Economic Analysis — that's the lowest rate recorded since September 2008 [emphasis added].

While we're talking about testing recession records:

A new report shows housing affordability continues to fall — and that in 2022, not only did affordability fall by a considerable amount, it fell by the most significant drop on record [emphasis added].

The stock market had the worst six months in fifty years, and bond performance during the first six months hit the worst return in 180 years.  Can anyone imagine how underfunded public pensions are after this period?

So what exactly in the above statistics indicates that the economy is doing well, and balance sheets are strong?

Contrast the disastrous results from Biden's first eighteen months with Trump's pre-virus tenure: we had peace, prosperity, more secure borders, low inflation, rising wages — especially at the lower end — record-low unemployment for people of all races and education levels, energy independence, affordable gas prices, warmongers subdued, and peace accords in the Mideast among other things.

Biden has ruled over disaster despite almost universal adoration from the media and constant cover from nearly every American institution.  Why would the public trust a media that never cared about the massive kickbacks and corruption of the Clintons and Bidens as they intentionally hide the truth from the public?

The United States became the greatest and most powerful country in less than 250 years because of capitalism, not big government.  It is a shame that idiotic, leftist, extremist policies can destroy it so quickly. 

It is a shame that more journalists won't join the "ultra-MAGA" party, which believes in peace, prosperity, and freedom for all.

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