Biden increased the national debt by 30% (+8.4 trillion, $25K+ per person) and had the highest inflation in 40 years.
The entire world suffered high inflation, an inevitable correction after Covid destroyed global supply chains. The US seems to have weathered it better than most.
And the richest 1% gained almost unimaginable amounts of wealth during the Biden administration. Ironically, they’ve lost some of that wealth during Trumps first months in office, due to Trumps trade wars.
‘the economy’ being the stock market.
Compared to what main street is just starting to feel, I’m sure the comparison is still apt.
Just starting to feel? Credit card debt reached new high by every measure under Biden, while consumer spending consistently declined and homelessness soared.
Don’t get me wrong the shit economy has accelerated and the rich and middle class are finally feeling what the majority of Americans have been feeling for half a decade, but the economy has been shit. It’s one of the main reasons Biden/Harris completely lost the trust of the lower class when they always bragged about ‘the economy’.
Just meant the scale is going to get much much worse. The hole in the boat with the last administration is going to seem small compared to the torpedoes the current administration is launching at the boat. I’m expecting what little safety net there is to be completely gutted. Tariffs are screwing people. All the systems that offered a modicum of safety when it comes to pandemics, food safety, air travel, consumer protections, etc., are going to fail, making it even worse. There’s just no comparison.
The other reason being that Americans have apparently lost any understanding of what a truly bad economy actually feels like. The lesson is incoming.
I think having to choose between food and rent already makes America’s economy circa 2024 worse than most developing countries.
The Orange Turd is financial moron that is why Putin had to bail him out and why the Turd is Putin’s puppet.
the same logic holds for literally everything he says. just assume the opposite to be true.
