Staff Reports
In a speech touting his “Bidenomics” policies, President Joe Biden once again made an outrageous claim about the state of the American economy. Despite the reality of staggering inflation and skyrocketing prices, Biden boldly declared that the U.S. has the highest economic growth rate in the world. What world is he living in?
The facts tell a different story. According to the U.S. Bureau of Economic Analysis, the American economy grew by a measly 2.1% in 2021. While that may sound like a decent number, it pales in comparison to the growth seen in many other countries. Countries like Ireland, China, and India all experienced higher real GDP growth rates than the United States.
BIDEN: "The U.S. has the highest economic growth rate…since the pandemic—the highest in the world!" pic.twitter.com/DABcSjtq0k
— Townhall.com (@townhallcom) June 28, 2023
But of course, President Biden conveniently ignores these inconvenient truths. He seems determined to convince the American people that his policies are leading to a robust and fast-growing economy. It’s a classic case of smoke and mirrors, where the reality of the situation is ignored in favor of political spin.
Even CNN, not exactly known for its conservative bias, has called out Biden’s false claim. Their fact-checker, Daniel Dale, debunked Biden’s assertion last year and even Columbia University’s Graduate School of Business professor, Laura Veldkamp, stated that there is “no way” Biden’s claim is true.
To make matters worse, recent data from the U.S. Bureau of Economic Analysis shows that U.S. economic growth slowed down significantly in the first quarter of 2023. The GDP rose at a meager 1.1% annual rate, a significant drop from the previous quarter. These numbers paint a clear picture of an economy that is struggling under Biden’s failed policies.
It’s time for the American people to wake up to the reality of “Bidenomics.” Despite the president’s lofty claims, the economy is not thriving under his watch. In fact, it’s floundering. It’s time for a change in leadership, someone who understands the importance of limited government, low taxes, and free-market principles. The American people deserve better than what they’re getting from President Biden.
Source: Townhall
