President Joe Biden last week claimed not only that July’s 8.5% inflation is “good economic news,” since it’s less than June’s 9.1% rise in the Consumer Price Index. He also crowed that such “success” is “what happens . . . when you build an economy from the bottom up and the middle out.”
That is, he’s arguing that he’s building the economy he wants — despite a few bumps on the road caused by Vladimir Putin and other evil-doers. Problem is, if it doesn’t deliver the miracles he imagines, he has instead stuck the nation in a grim “new normal” of economic stagnation.
Notably, the “good” inflation news was followed Thursday by word that new unemployment applications continue to creep up; they’re now at the highest level since November.
Yes, the economy added 528,000 jobs last month, to finally exceed the total before COVID hit in early 2020. But that’s with a larger working-age population, and (most troubling) a smaller share of that population employed or at least looking for work.
And, crucially, with real wages declining as inflation exceeds annual raises and other nominal gains. (Another fact Biden ignores as he brags that “wages are up.”)
Biden is so deep into Alzheimers he doesn’t know what he is saying or at least reading from cue cards or a teleprompter. He thinks he’s in charge and he’s a real president not just a puppet lead by his puppet masters and handlers. The elevator hit the basement a long time ago.
Biden is a dumbass being led by other dumbasses. We must get rid of all of them.