Economic Challenges Pile Up for President Biden: From Inflation to Migrant Crisis

The article highlights several economic issues facing President Biden, starting with his decision to embargo arms to Israel, which has led to widespread criticism outside the Democratic Party’s progressive wing. The article then touches upon Biden’s false claim that the US had a 9% inflation rate when he took office, when in reality, it was 1.4%. Prices have surged dramatically under Biden, with inflation reaching over 20%, including almost 40% for gasoline and a 24% rise in grocery costs. This has led to a decline in real take-home pay for working people, resulting in a 4% decrease, and a drop in consumer confidence, with the Michigan Sentiment Index falling to 67% compared to the previous administration’s average of 100%. Despite these challenges, Biden aims to spend $1.5 trillion in the coming six months to gain support and stimulate the economy. However, experts warn that such an amount cannot be spent within this timeframe, and if it were, inflation may reach double digits. This situation has led to low economic ratings for Biden, with working-class individuals rejecting proposals such as student loan cancellations and climate change programs that harm consumer choices and create excessive price hikes. Furthermore, Biden’s attempts to incarcerate former President Trump through legal means have backfired, with trials in New York, Washington, and Florida now stalled due to legal issues. The article concludes by highlighting Biden’s failure to tackle the ongoing migrant crisis, which is estimated to cost at least $150bn and is negatively affecting native-born employees by taking away jobs and reducing wages. A recent study suggests that mass illegal immigration does not benefit the economy, as shown by Britain’s open-border crisis. Overall, the author compares Biden’s current state to that of President Roosevelt during the Great Depression and highlights the negative economic ratings for Biden among working-class individuals.