The Biden Administration Faces A Coming Recession

On the watch of the Biden administration, the United States economy is in steep decline. Gas prices remain well on their way to being nearly five times more expensive than the average price of $2.41 when Biden came into office.

It’s not uncommon to hear the president talk about how well the economy is doing under his leadership. Generally, Biden cites the unemployment rate when trying to tout his record.

Unfortunately, the economy is far from great. The S&P 500 recently fell into a bear market on Friday. On top of that, inflation rates are still getting higher and making living expenses more unaffordable for average Americans.

Economists continue to project that a recession is on its way. They’ve warned this is largely owed to the Federal Reserve’s decision to increase interest rates on multiple occasions.

With a likely recession heading for the country, the Biden administration cannot pretend like this problem doesn’t exist.

A State of Denial From the White House
In real-time, the Biden administration continues speaking about the economy as if it’s in an alternate universe.

This past Sunday, the director of the National Economic Council, Brian Deese, described America’s current economy as “resilient” and “stable.” Deese, during an interview with CNN, also stressed the importance of letting the Federal Reserve work to stabilize the economy.

The “resilient” economy cited by the National Economic Council director has tracked an 8.3% rise in consumer prices over a 12-month timespan. America’s “stable” economy is also riddled with wages that pale in comparison to growing inflation.

Even former officials for Democratic presidents have warned that today’s economy is not doing well. Larry Summers, who worked as former President Clinton’s treasury secretary, has joined economists in predicting a future recession.

Meanwhile, the White House is throwing its weight behind more spending, something that will undoubtedly worsen inflation and the national deficit.

Backlash From Republican Officials
The GOP is not letting the Biden administration skate by as it tries to paint a rosy picture of the US economy.

On the congressional floor, Sen. Mitch McConnell (R-KY) blasted Biden and his allies in Congress for “draining” the finances of everyday Americans.

The Senate Minority Leader also confirmed that polling shows the country is well aware of how left-wing economic policies are hurting them.

Multiple polls have, in fact, shown that the economy, high gas prices, and inflation are some of the top worries of the American public. These concerns will play a major role in how Americans vote in the upcoming midterms.