Instead of tackling everyday Americans’ most pressing problem, the president and his team are playing puns
As anyone with a pulse can attest, times are tough and every non-millionaire American is grappling with the brunt of the economy.
Inflation is now at its highest level in 40 years and economic conditions are worse than when Jimmy Carter ran the show. And yet, despite all the facts, Joe Biden and his White House team insist that all is well, like the dog meme in the burning house.
Rather than address all the symptoms of a battered economy, the Biden administration has launched a propaganda campaign designed to convince you that everything is going according to plan. Don’t trust your lying eyes. Or blame Russia calling it the “Putin’s Price Rise” – Yes it works.
It’s no secret that there’s a recession going on, and whatever you call it. Whether the Biden administration wants to define it as an economic recession or not, what matters is that people are struggling to pay the bills and no serious effort is being made to tackle inflation, which hits everything from gas prices to grocery bills. .
Higher gas prices? Don’t worry, just buy an electric vehicle, like you can afford it. At least that’s what Transport Secretary Pete Buttigieg is suggesting. And to think he’s even more popular among some Democrats than Biden.
Fast food restaurants began to practice “shrinkage” reducing the amount of food they put on the tray while you continue to pay the same price. On the positive side, it could solve America’s growing obesity problem.
With the latest data released, the US economy now meets the de facto definition of a “recession,” which is two consecutive quarters of negative growth. This is the definition Reuters used to describe Hong Kong’s economy in 2019 and Japan’s in 2020. There is no doubt that their economies, which have seen two successive quarters of decline, have suffered a recession.
And yet, because of Biden’s apparent allergy to any news that makes his administration inept and his unrealistic green transition plan seem half-baked — not to mention the fact that Democrats are in serious danger of losing control of the House and the Senate in the next mid-sessions of November 2022 – his team has chosen to cover their eyes and ears.
Now that reports have come out that the country’s GDP shrank 0.9% in the second quarter of this year, this development could serve as another nail in the proverbial coffin for Democrats in the next half of the year.
Conspiracy theorists might suggest that the economic downturn is actually part of the plan to bankrupt the middle class so that the World Economic Forum’s promise to “you will possess nothing and you will be happy” by 2030 is coming, but there may be a simpler explanation – Biden and his team just aren’t cut out to handle the economy, and they’re struggling to keep their dream of a zero-carbon society alive so that everything else goes to hell in a hand basket.
After all, it will be difficult to bring any of these plans to fruition if they are all out of office by 2024.
Regardless of what is actually happening, average working-class and middle-class Americans won’t care for the words on a piece of paper confirming what they’ve known all along: It’s getting harder and harder to fill the grocery cart. The report merely confirms to economists what every American struggling to pay their credit card bills has experienced since Trump left office in 2021.
“While some argue that two consecutive quarters of real GDP decline constitutes a recession, this is neither the official definition nor how economists assess the state of the business cycle.the White House said last week. “Instead, official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at data – including labor market, consumer and business spending, industrial production and income.
Treasury Secretary Janet Yellen echoed the party line in insisting on cable news that the country is not in “recession”, defining this period of suffering as a “transition period where growth slows”.
Much like the changing definition of “woman,” the Biden administration is more than happy to redefine terms like “recession” when it suits its agenda.
“So there is a slowdown and businesses can see that and that’s appropriate given that people now have jobs and we have a strong labor market,” Yellen insisted.
The job market is so strong only because everyone is struggling to avoid homelessness. In a more ideal economic environment, every working man and woman would be in the workforce to pursue upward mobility and afford better things – not moonlighting as Uber drivers just to make ends meet. .
Biden and his team took a victory lap after gasoline prices fell from their peak of over $5.00 a gallon to $4.61. It should be noted that prices were only around $2.38 at the start of Biden’s presidency. All is relative.
Buttigieg even went so far as to suggest that skyrocketing gas prices were good for the environment because “The more we all suffer from the high price of gasoline, the more benefits there are for those who can access electric vehicles.” I’m sure those who are struggling to pay their bills will be happy to hear that their financial troubles will be solved once they can afford a Tesla.
In trying to pose the question of the definition of a “recession,” Biden is ducking his responsibility to the American taxpayer.
Democrats will likely pay a high cost at the polls in future terms. As Biden’s approval ratings on job performance, economic performance and inflation continue to decline, his congressional cohorts are going to be the ones to suffer at the polls.
Indeed, about 75% of American voters — an increase from 43% last summer — identify inflation and the cost of living as the most important economic concern for their families. Biden and his team of hack economists can redefine “recession” any way they see fit, but it’s hard to argue against the numbers.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.