Joe Biden promised to “build back better.” Even that was phrase was stolen from the UK’s Prime Minister Boris Johnson.
Biden’s policies have only heated up economic problems brought on by 2020. He spent large sums of money and has done nothing to address major issues like the supply chain.
Now, the economy is reacting to his failures worse than before.
The Bureau of Economic Analysis said on Thursday that Gross Domestic Product decreased at an annual rate of 1.4 percent in the first quarter of 2022. Economists had expected the economy to grow 1.1 percent, so this was far worse than expected.
Private inventory investment, exports, and government spending fell in the first quarter. Imports, which are a subtraction from GDP, surged….
That raises the danger that the economy is heading toward stagflation, where growth lags below trend and inflation remains above trend.
Thanks to Joe Biden’s reckless policies, America’s GDP shrunk at the beginning of the year by 1.4%. Experts had predicted a growth of 1.1%–so this was a major fail.
Imports surged because American companies were not providing enough goods. That only further hurts GDP.
It seems increasing inflation is hurting us more than experts expected. Thanks to the dropping value of the dollar, companies are having a hard time producing goods.
Add to that supply chain issues that further slow production. And Biden’s deliberate efforts to increase the cost of fuel.
Why are we surprised to read this news? Biden is an America Last president. He is not concerned with helping us—only bowing to the radical left.
And signs point to inflation only increasing in the coming months. Biden and his Democrats have only worked to make things worse.
Do they think this is going to go over well for them, come November? Voters are going to have a reckoning over this kind of news.
- The U.S. GDP contracted by 1.4% in Q1 of 2022.
- This was below predictions, which said it would grow by 1.1%.
- This is the result of Biden’s numerous failures on many fronts.