Like Inflation, President Biden’s Denial Doesn’t Make a Recession Go Away
Oct. 13, 2022 - 'Inflation Reduction Act' - Bidenflation - Blog - Press Releases - Talking Points
Before inflation reached its highest since President Biden took office, three months ago, in a rare sitdown interview, the President denied a recession was “inevitable." Despite the fact that more than half of top job creators are bracing for a severe recession, President Biden is still in denial, this week saying:
“I don’t think there will be a recession. If it is, it will be a very slight recession. That is, we’ll move down slightly. […] Look, it’s possible. I don’t anticipate it."
Bottom Line: The same Administration that failed to heed experts’ warnings about accelerating inflation is continuing to dismiss experts’ warnings about the cruel recession.
KEY TAKEAWAYS:
Under Biden’s Cruel Economy, Americans are Suffering and Job Creators Are Bracing for a Recession.
* More than half of American workers’ paychecks have fallen behind - the highest share of workers since 2011, the last time President Biden was in the White House.
* Biden-Flation has robbed workers of a whole month of wages - the steepest pay cut in 25 years, according to analysis from the Dallas Federal Reserve.
* More than 90 percent of chief executive officers (CEO) believe there will be a recession in the next year, according to a recent survey. Only a third believe it will be a “short" or “mild" recession.
READ: Core Inflation Hits Highest In Biden Presidency
READ: Cruel Biden Recession Will Crush Minority Americans
Democrats Created the Biden-Flation Crisis - Despite Many Warnings.
* Democrats insisted on passing a $2 trillion so-called “stimulus," despite warnings from former Obama-Biden Administration officials like former Director of the National Economic Council Larry Summers and former Chairman of the Council of Economic Advisers Jason Furman that it would stoke inflation.
* The Administration dismissed these warnings as “a high class problem, " and claimed that inflation was “transitory."
* In August, Democrats passed the so-called “Inflation Reduction Act," which adds $700 billion to the inflation fire and raises taxes on working families and Main Street.
READ: San Francisco Federal Reserve Analysis Debunks White House Excuses on Inflation
Republicans Are Committed to Creating a Strong Economy.
* One of the central tenets of the Commitment to America is “an economy that’s strong" - one where families benefit from increased take-home pay, good-paying jobs, and stability through pro-growth tax and deregulatory policies.
* Ways and Means Republicans have introduced a bill to make permanent the very tax reform that succeeded in helping lower-income families.
