7 Devastating Economic Stats that Prove the Biden Economy Is Failing the American People
One of the most famous questions in presidential campaigning that is so pertinent today was posed by Ronald Reagan in 1980 when he asked the country “are you better off today than you were four years ago?”
That single question helped Reagan soar to win the popular vote and dominate the Electoral College, but it came after four years of Jimmy Carter’s “malaise” and one of America’s worst economies since the Great Depression.
Today that question is more germane than ever as Joe Biden has driven America to the brink of depression, utterly wasted the strong economy left to him by Donald Trump, and squandered the growth that this country was experiencing before he took office.
Seven metrics speak to how horrible Joe Biden has been for America’s wallets. From gas prices, to rent and mortgage, to evictions, store closures and more, Joe Biden has been a harbinger of destruction for our economy.
Soaring Gas Prices
Right after Biden took office, gas prices made a big jump as he dived into his effort to destroy the U.S. energy sector. And while they did come down for a little while, they have begun soaring once again, just in time for the 2024 election. Indeed, according to ABC News, per gallon prices have spiked 14 percent this year alone.
Some states have been hit worse than others. In Utah, prices have soared 60 cents a gallon. In Alaska it is a 55-cent hike, in Oregon it is 43 cents. And Illinois and California are seeing even worse prices.
Retail Store Closures Rising
The rate of retail closures is up 30 percent over 2022, with total closures at 5,463, according to The Daily Mail. Both big name and smaller chains have been affected, including Macy’s, Bed, Bath & Beyond, Walgreens, Rite Aid, Family Dollar, Foot Locker, Office Depot, Petco and more. Even Target and the nation’s largest retailer, Walmart, are not immune to losing locations.
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Jobs Numbers are Phony
It seems every quarter since Joe Biden has been in office, the media has been all aflutter about how wonderful Joe Biden’s record of job creation has been. Yet for most of these quarters, every time those bright numbers come out they are quietly revised downward much later because they are false. And the media never reports this.
Eleven out of the last 13 jobs reports have been “revised downward,” meaning the high number of jobs created was quietly reduced later when the real numbers became known.
11 out of the last 13 jobs reports have been revised down from the original headline-generating numbers.
The regime is cooking the books. pic.twitter.com/et1hbGRTkT
— End Wokeness (@EndWokeness) March 8, 2024
Then as The Federalist noted, many of the “new” jobs being created are not full-time jobs, either, meaning that many Americans are taking on extra jobs just to make ends meet.
Evictions Up 78.6% Since 2021
In another key metric showing that middle and lower income Americans are being hit hard by Biden’s economy, people are being evicted from their homes at a huge rate because they cannot afford their mortgages and rent payments. According to the Associated Press, evictions are fifty percent higher in some cities and overall, the rise is a disheartening 78.6 percent since 2021. The wire service added that there have been 970,000 evictions filed in the last year alone.
Foreclosures Up 10% Since January
Corollary to evictions, foreclosures on homeowners are also way up in Joe Biden’s America. Also reported by the Associated Press, evictions have skyrocketed by 50 percent just since January.
Bankruptcies Up 13%
Unsurprisingly, with evictions and foreclosures, the rate of personal bankruptcies is also jumping, up 13 percent since September of last year, according to federal data.
Business bankruptcies are even worse, soaring almost 30 percent in the last six months, up from 13,125 to 17,051, the numbers show.
Homelessness Up 12%
Finally, it is also not surprising that with all these dismal economic pressures, job loss, store closures, evictions and bankruptcies, more Americans are finding themselves homeless, too.
According to CBS News, homelessness has reached record numbers and is up sharply 12 percent over last year. Officials say that more than 650,000 people were homeless in January, the highest number ever seen since the U.S. Department of Housing and Urban Development has been tracking the issue.
All this will continue to worsen up until the 2024 election. And if Joe Biden wins, it will get far worse for the country. If you dislike a candidate who made “mean tweets” more than you dislike the candidate who has destroyed the economy, then you really need to reassess your priorities.
This article appeared originally on The Western Journal.
