Biden warns of incoming economic ‘setbacks’

According to the Washington Examiner, President Joe Biden just warned Americans that economic “setbacks” are likely as he and his administration try to resolve America’s economic problems. 

Biden’s warning came during remarks that he made on Friday before a group of business and labor leaders.

“We’re in good shape . . . but”

At one point during the meeting, Biden said:

It’s going to take time to get inflation back to normal levels as we keep our job market strong. So, we could see setbacks along the way: I don’t doubt that. But, thus far, we’re in good shape. But, we’re laser-focused on that. [emphasis added]

It’s a typical sort of post-election statement that one would expect from a Democratic politician.

Before the election, of course, everything was perfect and only getting better. But, after the election, it’s a different story: it’s time to try to get Democratic voters back in a realistic mindset before reality hits.

The reality here is that, with Biden continuing to lead the way, things, economically speaking, could conceivably still get worse.

In fact, based on Biden’s above statement, he is expecting some bad things to happen.

“We’re just getting started”

The above statement is not the only worrisome statement that Biden made during Friday’s meeting.

Biden also said this:

We had an extraordinary two years of progress from the American Rescue Plan, the bipartisan infrastructure law, the Inflation Reduction Act, and the CHIPS and Science Act. But what I’m most excited about is that people are starting to see the impact of these legislative achievements in their own lives.

“We’re just getting started,” the president added.

If things are this bad with Biden and his administration “just getting started,” the question is how bad will things be when Biden really gets going? It’s a question that many Americans, probably, would not like to see answered. But, at this point, there may not be much of a choice.

Yes, Republicans have gained control of the House and will presumably be able to try to curb Democratic spending for the next two years. But, whether they can do anything about what the Democrats have already accomplished – such as the passage of the so-called Inflation Reducation Act – is another matter.