Biden can try to gaslight the American people and retcon the past few years to his heart\u0027s content, but the ruse will not work.
Last year, the U.S. economy formally entered a recession — which until 2022, when the Biden administration attempted to redefine the word, universally meant consecutive quarters of negative GDP growth. Around the same time last year, annualized inflation on the consumer price index surpassed 9% — the highest reading in four decades, since the infamous “stagflation” of the Jimmy Carter era.
Inflation has since cooled down a bit, but is still running considerably hotter than the Federal Reserve’s stipulated 2% target. Accordingly, Fed Chair Jerome Powell has not ruled out still-further interest rate hikes, at a time when mortgage payments are already catastrophically high; for the median American family buying a home, mortgage payments doubled from roughly 14% of monthly household income in 2020 to nearly 29% in June 2023.
The fact that Joe Biden’s paper-thin, basement-dwelling presidential campaign is rolling the dice with “Bidenomics” as its go-to message, as we approach the heart of the 2024 campaign cycle, can be explained by one truth: There is simply nothing else for him to run on.
France Dernières Nouvelles, France Actualités
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