‘Let’s keep the progress going’: Biden claims economy is off to record start

Complaints about price inflation, supply chain interruptions, and federal government spending have contributed to the prevailing belief that America’s economy is in trouble.

In a move that bolstered concerns about an out-of-touch government, President Joe Biden this week declared that the economy has been stronger under his watch thus far than the same period in the first terms of any of his recent predecessors.

“The U.S. economy is a complete disaster”

According to Breitbart, the president tweeted on Wednesday that the year would end “with what one analyst described as the strongest first-year economic track record of any president in the last 50 years.”

While a clarifying statement from the White House might have cleared up his dubious assertion, the statement on its own might convince some Americans that the Biden administration is clueless about the state of the economy outside of the D.C. bubble.

“Let’s keep the progress going,” Biden tweeted without indicating which “analyst” gave his administration such high marks.

For his part, noted economist Peter Schiff took a much different stance regarding an economy that is “weaker” than ever due to a record trade deficit.

“The Nov. U.S. merchandise trade deficit surged to $97.8 billion, a new all-time record high,” he tweeted. “The deficit shattered expectations of $86 billion, and is 17.5% higher than the prior month. This horrific data proves the U.S. economy is a complete disaster.”

Public confidence plummets

More bad news came in the form of a CNBC report detailing the impact of runaway inflation on poor and working-class Americans.

Even as Biden attempts to put a positive spin on the economy, the report found that an increasing number of families are “looking to stretch a dollar” amid a 7% increase in the price of food and other goods — or roughly $3,500 in extra spending over the course of a year.

Meanwhile, a recent Gallup poll found that public confidence in the economy had dropped to match its recent lows near the beginning of the pandemic. More than 8 in 10 of the 811 adults surveyed earlier this month rated the nation’s economy as either “fair” or “poor.”

Nearly one-third of the respondents cited the economy — or related concerns like inflation and unemployment — as a top issue negatively impacting their lives.

As for whether Biden will eventually acknowledge the reality of the economy he created, that remains to be seen. His most recent remarks on the topic, however, suggest it is unlikely to happen.

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