Shocking Discrepancies Between Biden’s Claims and Economic Reality

In recent speeches, President Biden has been quick to tout the success of his economic policies, but not everyone is buying into the hype. Economic experts are raising eyebrows at Bidenomics and its supposed achievements, questioning whether the president’s claims hold any water.

Addressing a crowd of union supporters at the Philly Shipyard in Philadelphia, Biden took credit for the decreasing inflation and low unemployment rates. However, Forbes Media Chairman Steve Forbes isn’t so easily convinced. He pointed out that just a year ago, Biden presented himself as a deficit cutter, but the deficit has ballooned to two and a half times what it was then. Inflation, although somewhat reduced, is still double the pre-Biden levels, burdening everyday Americans with higher prices and credit card debts reaching record highs. Moreover, business investment is not meeting expectations, and global challenges add to the concerns about the future of the economy.

Despite criticism, the president remains steadfast in his defense of Bidenomics. He claims credit for creating 13 million new jobs and slashing the federal budget by a staggering $1.7 trillion. But The Washington Post was quick to rate his deficit-cutting claim as “highly misleading.”

It’s not just experts and analysts who are skeptical; voters, too, have their doubts about the president’s economic performance. A June poll conducted by Fox News revealed that 60% of respondents disapproved of Biden’s handling of the economy, although this was a 7% improvement from the previous year.

Looking ahead to the 2024 elections, some believe Biden’s economic record could be a deciding factor. Steve Forbes predicts that Biden may not even be the Democratic nominee, given the level of distrust in institutions and growing traction for other candidates.

Former economic adviser to President Trump, Steve Moore, offered a bleak outlook for many Americans under the Biden economy. While inflation has slightly decreased, the impact of earlier surges continues to affect consumers’ wallets. The rising cost of everyday essentials coupled with only modest wage increases has left middle-class families struggling to keep up.

In conclusion, the story of Bidenomics appears to be one of mixed results and skepticism. While the president takes pride in his achievements, economic experts and voters remain cautious. The true test of Biden’s economic policies lies in the future, and only time will tell if they will stand the test of time.

Source Fox News