Trump Campaign Statement on Joe Biden’s Bidenomics Failing Americans
September 14, 2023
Crooked Joe Biden has spent months boasting that he deserves political credit and public gratitude for the state of the U.S. economy. He has insisted that American families are prospering and thriving under policies that he himself has branded and promoted as “Bidenomics.”
But the public has not been fooled. They see Bidenomics for what it is: inflation, taxation, submission, and failure. With polls confirming that Americans overwhelmingly reject Biden’s effort to whitewash his abysmal economic record, he will now attempt to reverse his message 180 degrees, ludicrously trying to blame President Trump for the destruction and misery that Joe Biden himself has wrought.
Here is the truth. Americans were better off financially under President Trump.
President Trump saved the U.S. economy and millions of American jobs, and then handed Joe Biden the fastest and strongest recovery ever recorded, with no inflation. Upon taking office, Joe Biden and the radical left zealots staffing his White House systematically wrecked the booming Trump economic comeback they inherited.
Starting on his first day, Joe Biden shut down the Keystone XL pipeline, waged war on American energy, added hundreds of billions of dollars in regulatory burdens (over $10,000 per household), imposed a colossal tax hike, and threw open the southern border, sending millions of illegal alien migrants pouring into communities nationwide and straining local budgets and social services to the breaking point.
In addition, defying the explicit warnings of President Obama’s top economic advisor (who told Biden that his overspending would cause catastrophic inflation), Biden spent an unprecedented $11.5 trillion at a time when there was neither a war nor a national emergency. This included over $4 trillion on three massive socialist spending bills crammed with every ridiculous and dangerous idea that the most fringe far-left lunatics in Congress ever dreamed up. These three bills alone cost taxpayers over $30,000 per household.
The result of this previously unimaginable series of atrocious economic misjudgments is a cumulative inflation rate of nearly 20 PERCENT since Joe Biden took office, real incomes down for three straight years, annual family take-home pay down over $7,000, millions more children living in poverty, soaring poverty and crime rates nationwide, tens of millions of middle-class families unable to afford a mortgage or a car, businesses unable to get loans, credit card debt exploding by trillions of dollars, and an economy on the brink of ruin.
In May 2021, shortly after taking office, Biden’s own budget proposal projected that the federal deficit would be 4.2% of GDP by FY2024. Now, Biden’s OMB projects that it will be nearly 7% of GDP. In other words, this fiscal calamity is entirely Joe Biden’s doing, caused by policies implemented under his administration. Under Biden, the federal deficit is projected to double this year alone.
On top of it all, Biden’s absurdly burdensome Electric Vehicle mandate is a death sentence for the U.S. auto industry—a major reason why American autoworkers are refusing to endorse him.
Joe Biden is responsible for the most disastrous administration in American history. Now he wants to contort the facts in a transparent attempt to lie about his mortifyingly bad record.
As Americans well remember, President Trump built the greatest economy in the history of the world. In fact, he did it twice. And once he defeats Crooked Joe Biden, he will do it a third time starting on Election Night 2024.