Joe Biden’s presidency is crashing down. But no one could have expected this.
And now sad Joe Biden news has finally been confirmed by the federal government.
The Joe Biden administration certainly has made a ton of mistakes in just its first two years.
The Afghanistan pullout disaster, the Chinese spy balloon calamity, and the handling of China and Russia come to mind immediately.
But ask Americans what failure of Joe Biden’s stands out among the rest, and most will say his handling of the economy.
On Joe Biden’s watch, inflation has skyrocketed and has yet to truly stabilize in any meaningful way, gas prices have fluctuated as high as an average of $5/gallon, and the federal reserve has manufactured a housing crisis by jacking up the interest rates as a foolish attempt to address the inflation concerns.
It’s not getting any better either.
New data from the federal agency at the Census Bureau suggests that the economy is still in shambles as nearly 2 out of 5 Americans say they are struggling to pay bills, still to this day.
In the most recent household survey conducted by the bureau, 38.5% of adults, or more than 89 million people, reported having trouble paying their bills between April 26 and May 8. This is an increase from last year’s 34.4%.
Despite other economic indicators that would signal recovery, even the number of budget constraints in 2022 increased from 26.7% in 2021, which indicates that there has been a roughly fifty percent increase in the last three years.
Additionally, results vary greatly by geographic location and are already above 40% in more than half of U.S. states. Some of the toughest budget issues were experienced by states like Mississippi and Louisiana with low average earnings.
Texas, Georgia, and Alabama, three other states with the lowest financial livability rates, also have disproportionately large budget problems.
Over 25 million families report using credit cards or taking out loans prior to their next payday. The number is higher than the 22.4 million recorded in 2022 and the most recorded since the survey’s inception.
“The Household Pulse Survey is a 20-minute online survey studying how the coronavirus pandemic and other emergent issues are impacting households across the country from a social and economic perspective,” the bureau said in a written statement.
Core demographic household factors such as childcare needs and costs, employment, food availability spending habits, and inflation worries were the subject of questions.
The outcomes were achieved despite the Federal Reserve raising interest rates since the pandemic ended to fight inflation, and central bankers recently suggested that rates could climb further.
Basically, the Bureau confirms that, no matter what the Joe Biden says, Americans are truly struggling under Joe Biden’s tenure in the White House.
And that’s truly sad.
The only silver lining in all of this is that the economy has been historically the number one indicator of whether an incumbent President will keep his spot in the White House and be re-elected.
On that front, it’s not looking good for Joe Biden. But that would be a fantastic thing for the American economy under the leadership of a real leader like Donald Trump or Ron DeSantis.
