Joe Biden claims he is building the economy from the "bottom up and middle out.” The reality tells a much different story.
A few concrete examples:
- U.S. families will spend an extra $5,200 this year due to inflation according to a Bloomberg estimate.
- Congress’ Joint Economic Committee estimates Bidenflation cost Americans $569 last month.
- A Northwestern Mutual study found Americans now have an average of $9,000 less in savings than they did last year.
- Gas prices hit a new record high today after rising or staying level every day for over a month.
- 32% of small businesses report inflation as their single most important problem, the highest since 1980.
- A CNBC poll shows that eight of 10 workers are now concerned about a recession.
- 25% of Americans are being forced to delay retirement because of inflation.
- Gallup’s Economic Confidence Index is now at its lowest reading since the Great Recession in early 2009.
- 77% of Americans say the country’s economic outlook is “getting worse.”
- A record number of Americans expect their finances to worsen over the next 12 months.
- Medicare premiums jumped by the highest amount in the history of the program.
Even Biden’s own economists are warning of a recession. Biden isn’t building from the “bottom up and middle out.” Instead, he is hollowing out the middle as the bottom falls out.
