TO BE FAIR, HE’S INCREASINGLY OBLIVIOUS ABOUT EVERYTHING: Biden oblivious about leaving Trump an economy on the precipice of disaster.
Apparently believing that the more you repeat a lie the truer it becomes, President Biden recently quoted a Time article claiming that “President Trump is receiving the strongest economy in modern history.”
The Time article was little more than a setup designed to position Democrats to take credit for the inevitable Trump economic boom – as I noted on these pages just four days before Biden repeated this audacious claim. Expect similar efforts from the Left as they attempt to rewrite economic history in hopes that our memories are weak enough – and our gullibility strong enough – to overcome economic reality.
The fact is, Biden is handing Trump an economy on the precipice of disaster. Thanks in large part to Biden’s four-year deficit spending spree, the economy is shackled by an incomprehensibly huge $36 trillion in debt and $1 trillion less in Treasury cash on hand. That debt is growing exponentially, with interest alone now consuming over $1.1 trillion annually.
And while Biden has been touting jobs numbers, those estimates keep getting revised down after wildly overoptimistic initial reports. The Federal Reserve Bank of Philadelphia just estimated that net job growth in the second quarter of this year was likely negative, meaning employment was falling.
Add in inflation that is once again accelerating by every measure, and you have some understanding of the debt-ridden, inflationary, dumpster-fire economy Trump is actually inheriting.
So, what is Biden talking about?
Nobody knows.