Losing Money As A Recession Looms

Rapid Response

“the quiet before the [recession] storm." … That’s how experts are describing today’s jobs report.

Indeed, former Obama economic advisor Austan Goolsbee conceded today’s jobs report changes nothing about the “awful situation” that the economy is currently in. Why? Because the warning signs of a looming recession are still flashing, especially given the declining labor force participation rate.

And while economists predict recession, workers continue to see a MASSIVE pay cut in real wages.

NOTE: Wages are not keeping up with inflation.

Wages are up +5.5% in the past year, according to the Labor Department.

That's well below 8.5% inflation in the past year.
— Heather Long (@byHeatherLong) May 6, 2022

Indeed, a new CNN poll shows how Americans are feeling about Biden’s handling of the economy:

66% disapprove of his handling of the economy
55% say he has made the economy worse
50% say the economy is the most important issue facing the country, by far the highest of any issue
77% rate the economy as poor, the most in a decade

Americans are losing money while a recession looms, and they blame Biden for it. Those are the realities of Biden’s economy.