For a majority of Americans, a recession is a “looming reality” not a “mere threat” according to a recent Quinnipiac poll. They hold President Biden responsible – 63 percent disapprove of President Biden’s handling of the economy.
At least 85 percent of Americans believe the U.S. will be in recession in the next year, as rising costs rob more of workers’ paychecks. This comes as most Americans believe the country is headed down the “wrong track.” Those polled were comprised of 25 percent who identified as Republicans, 25 percent as Democrats, and 50 percent who don’t identify with a party.
Democrats’ Tax Hikes Would Worsen Bidenflation.
- Democrats have vowed to repeal the Tax Cuts and Jobs Act (TCJA) as a way to fight inflation, despite the fact that tax reform reduced federal tax rates for households across every income level–while increasing the share of taxes paid by the top 1 percent.
- President Biden’s tax plan would slash family wages across all income levels, while more than 60 percent of Americans’ paychecks are unable to keep up with rising prices.
- Even economists who have been cited as favorable toward President Biden’s policies have criticized his agenda and warned about worsening inflation.
Democrats Have Pushed the Economy to the Brink of Recession.
- President Biden and congressional Democrats’ $2 trillion so-called COVID stimulus fueled this inflation fire, with former Obama-Biden White House economic advisor Jason Furman attributing at least 2.5 percent of current inflationary pressure to the massive bill.
- President Biden’s economic policies have been so disastrous and inflationary, that since March of 2022, nearly 40 economists have raised concerns about a looming recession.
- Even the left-leaning Vox is covering the inflation crisis, citing experts who admit that Democrats’ $2 trillion so-called stimulus botched the recovery and made inflation worse.
Democrats Have Refused to Work with the GOP to Fight Inflation.
- With a majority of small businesses fear Bidenflation will close down their business, Democrats should work with Republicans to make TCJA permanent.
- As U.S. gas prices reach an all-time high with no end in sight, Democrats should work with Republicans to unleash Made-in-America energy.
- And with a shrinking economy, shrinking paychecks, and a shrinking labor force, Democrats should work with Republicans to lift President Biden’s trade moratorium and “sell American” all over the world.