Biden's Blunder – "It's the Economy, Stupid"

James Carville’s famous adage, “It’s the economy, stupid” has never been more relevant than today, a truth Biden has completely ignored. Instead of addressing the pressing economic concerns of the American taxpayer, Biden has chosen to pander to the leftist agenda, leaving hardworking citizens to shoulder the burden of his misguided policies.

Over the past four years, the cost of living has skyrocketed. From the price of eggs to gasoline and rent, inflation is squeezing American families the most since the Carter Administration. The price of a dozen Grade A eggs has surged by 89.4% since 2020, reaching $2.86 in April 2024. A gallon of Gas was $2.393 per gallon when Biden took office. It is now $3.62, an increase of an astronomical 40%, while rent has jumped by 25% nationally. These figures are not just numbers, they represent the daily struggles of American families trying to make ends meet.

Let us be clear: Biden’s ongoing claim that inflation was at a staggering 9% when he took office is nothing but another one of his ever more frequent big fat lies. This is a total fabrication of the economic reality. When Biden assumed office in January 2021, the Consumer Price Index (CPI) was showing an annual inflation rate of about 1.4%, nowhere near 9%. It is essential to set the record straight. Inflation soared to its highest levels in 40 years under Biden’s Administration due to his reckless spending and misguided policies. The facts are simple—Biden inherited a recovering economy with manageable inflation, but his policies have fueled an inflationary firestorm that American families are now struggling to endure.

Under Biden, skyrocketing mortgage interest rates are destroying the American Dream of homeownership for thousands of young Americans. These inflated rates are making it nearly impossible for first-time buyers to afford a home, leaving them stuck in a cycle of renting and uncertainty. Moreover, the high cost of borrowing is stifling new commercial development, exacerbating the housing affordability crisis. With fewer new housing units being built, the supply remains constrained, driving prices even higher and putting homeownership further out of reach for many. Biden’s economic mismanagement is not just a setback, it is a direct assault on the future stability and prosperity of countless American families.

Instead of focusing on these economic issues, the Biden administration has pursued an aggressive leftist agenda, prioritizing climate change, expansive social programs, and regulatory overreach. These policies may appease his progressive base, but they do little to address the real concerns of the average American. The administration’s fanatical focus is destroying the domestic oil and gas industry and has led to spiraling energy costs, further straining household budgets. Meanwhile, expansive social programs have added to the national debt, which now stands at an unsustainable level.

Speaking of debt, Biden’s reckless federal spending is out of control, and he just wants more. The trillions in new spending and giveaways have ballooned our national debt to completely unsustainable levels. Now, the interest on that debt is squeezing out every other budget category, leaving less for critical areas like defense, infrastructure, and social services. It is a vicious cycle where we are paying more and more just to service the debt, while Biden’s solution is to keep the spending spree going.

As of 2024, the U.S. Federal Government is projected to spend over $600 billion on interest payments alone. For context, this is larger than the Federal budget when Ronald Reagan was elected president. This figure is expected to grow significantly in the coming years due to rising interest rates and increasing debt levels. The Congressional Budget Office (CBO) estimates that interest costs will surpass $1 trillion annually by the end of the decade, outpacing all other Federal spending areas.

Biden’s focus on leftist agendas over economic stability is a complete abandonment of the American people. It is past time for America to return to the sanity and prosperity of President Trump’s economic policies. Under President Trump, we saw historic tax cuts, deregulation, and a strong focus on pro-growth policies that invigorated the economy and put more money into the pockets of hardworking Americans. The unemployment rate hit record lows, wages rose, and the stock market soared, benefiting retirees and investors alike. Trump’s America was a place where businesses thrived and opportunities abounded. Contrast that with the current administration’s reckless spending and regulatory overreach, which have stifled growth and fueled inflation. It is clear that to restore economic stability and ensure a prosperous future, we must embrace the principles that made Trump’s economy a success: low taxes, fewer regulations, and policies that prioritize American workers and businesses. The path forward is clear: We must re-elect Donald J. Trump and put America back on the road to economic sanity.