President Biden has misleadingly claimed his economy is a success, but the Americans who are skipping meals, delaying retirement, and struggling to make ends meet know there’s nothing worth celebrating in this cruel economy.
In a new article, even the New York Times is calling out President Biden for his exaggerations and misstatements about his economic record.
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President Biden sent inflation soaring to historic levels, which led to the need to increase Social Security payments.
- “This week, Mr. Biden praised himself for giving retirees a raise during a speech in Florida.”
- “Mr. Biden had not done anything to make retirees’ checks bigger — it was just a byproduct of the soaring inflation that the president has vowed to combat.”
- “‘The only thing the White House can take credit for is the historic inflation that led to the need to increase Social Security payments,’ Republicans on the House Ways and Means Committee said in a statement.”
Biden’s claims about reducing the deficit are very misleading.
- “In stops across the country in recent weeks, Mr. Biden has also credited himself with bringing down the federal budget deficit — the gap between what America owes and what it earns.”
- “Left unsaid was the fact that the deficit was so high in the first place because of pandemic relief spending, including a $1.9 trillion economic aid package the president pushed through Congress in 2021 and which was not renewed.”
President Biden’s policies shrunk the economy. Experts warn it will continue to shrink into next year. Yet President Biden brags otherwise.
- “Mr. Biden’s comment to Jimmy Kimmel in June about America’s rapid economic growth being the fastest in the world was contradicted by an International Monetary Fund report in July that showed several countries in Europe and Asia were growing faster than the United States this year.”
Democrats created the Biden-Flation crisis – despite many warnings.
- Democrats insisted on passing a $2 trillion so-called “stimulus,” despite warnings from former Obama-Biden Administration officials like former Director of the National Economic Council Larry Summers and former Chairman of the Council of Economic Advisers Jason Furman that it would stoke inflation.
- The Administration dismissed these warnings as “a high class problem,” and claimed that inflation was “transitory.”
- In August, Democrats passed the so-called “Inflation Reduction Act,” which added $700 billion to the inflation fire and raised taxes on working families and Main Street.
Americans are suffering under Biden’s cruel economy.
- More than half of American workers’ paychecks have fallen behind – the highest share of workers since 2011, the last time President Biden was in the White House.
- Biden-Flation has robbed workers of a whole month of wages – the steepest pay cut in 25 years, according to analysis from the Dallas Federal Reserve.
- More than 90 percent of chief executive officers (CEO) believe there will be a recession in the next year, according to a recent survey. Only a third believe it will be a “short” or “mild” recession.
Republicans’ Commitment to America means a stronger economy.
- One of the central tenets of the Commitment to America is “an economy that’s strong” – one where families benefit from increased take-home pay, good-paying jobs, and stability through pro-growth tax and deregulatory policies.
- Republicans’ Tax Cuts and Jobs Act helped all Americans by reducing the federal tax rates for households across every income level, while increasing the share of taxes paid by top earners.
- Ways and Means Republicans will make permanent the very tax reform that succeeded in helping lower-income families.