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At 6 Months, Biden Fails His Economic Report Card

wealth taxSix months into his presidency, President Biden is getting an “F” on his report card. Here’s a breakdown:

Job growth is slowing down.

  • Despite huge advantages of the re-opening economy, life-saving vaccines, and trillions in stimulus spending, President Biden created 1.4 million jobs fewer in the first six months of 2021 than President Trump did in the last six months of 2020.

Economic growth is slowing down.

  • The Congressional Budget Office now predicts economic growth after the sugar-high of stimulus is significantly slower under President Biden than under President Trump.
  • In July 2020, CBO forecast economic growth between 2023-2030 would average 2.1%. Since Biden took office, CBO has now lowered expectations to a mere 1.5% – a nearly 30% reduction in growth.

Economic optimism is down.

  • The six-month outlook for the U.S. economy plunged to a five-month low of 50.8. (Reminder: it hit a 14-year high of 57 in February 2020 under the TCJA!)

Real wages are down.

  • Annualized real wages are down 3.95%.

President Biden’s net job approval on the economy is down–in fact, it’s sliced nearly in half over the past month.

  • Americans are losing faith in his economic leadership, worried about impending tax increases, and a higher cost of living.

The only thing that’s up is rising prices.

  • Inflation has been caused by massive government spending and President Biden paying people more to stay on the couch than to return to work.

For all these reasons, including his economic attack on American-made energy and proposed crippling tax hikes on workers, farmers, and Main Street businesses–the grade President Biden has earned in his six-month Economic Report Card: an ‘inflation-adjusted” F.

Reprinted with Permission from - U.S. Committee on Ways and Means by - J.P. Freire, Jessica Henrichs, & Leo Lutz

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Rowena
1 month ago

Massively failed!!

Jerry
1 month ago

Joe Biden could not earn a diploma from kindergarten.

B Wyman
2 months ago

7/23/2021 They are putting in place the 2030 “Reset” this use to be the one world order, it has many factors creating this. Many Billionaires, International Banking, The United Nations, Englands Prince Charles, and many other high up mucky-mucks. They are really wanting to reduce the population by more than half. Yes, the virus through fear tactics showed they can actually control the masses. Therefore they were successful in basically winning WW3 without firing ONE Shot per-se.
This has been in the works for a very long time but it is now showing THE USA just how powerful they truly are–after all, they shut down the President of the United States and got him out of office by whatever means they had to take,
Rig machines– have been around since they have been put in place.
There are solutions to any problems –some good folks from all over the world need to put their heads together and come up with better tactics.
Although it may seem like the world has been infiltrated by many Negative Forces, surely there are just as many brilliant Positive thinking folks who shall come up with their own brilliant thinking solutions
. Anyway, I pray for that to take place maybe not today but sometime soon– in the meantime—- I just keep writing GOD is laughing. & I also dream of all the Lakes be filled with crystal clear drinking water for all to enjoy. GoD’s Blessings to all!
Amac please keep up the good work I was a member before 500,000 strong.

Bill on the Hill
2 months ago
Reply to  B Wyman

B Wyman… Comments such as yours’s is why I return to these articles in order to get fresh perspectives on these stories…Sometimes it takes a couple days for the info to really sink in rather than make rash comments off the cuff, something I readily admit to doing on occasion…It’s human nature, all of us slip up from time to time, LOL!
I agree, there are solutions to everything we are experiencing today & I believe there are things in motion we don’t yet see or realize.
The reason I consistently say there will be a ‘military’ component in all of this is because the current usurpers in DC control the entire Congress, both Houses…They are captured entities as is the SCOTUS…
The AZ audit has already disclosed the rampant election fraud in the preliminary update hearing & those routers under subpoena have NOT been released to the auditors. The routers DO NOT hold personal info data, that is a BOLD lie by the Board of Supervisors in AZ… The routers hold IP addresses, this is why they REFUSE to release them, when they do & they will release them by arrest warrants if necessary, they will show the internet connectivity with respect to the foreign interference in Maricopa, County Arizona…It will be the same pattern across all the Key states & every state that used those machines, i.e. Dominion/Smartmatic, all ( 38 ) states…Never forget, the military has known the the IP addresses, both domestic & foreign, i.e. China, Pakistan Iran, Spain, Germany, UK & Canada before, since & after Nov. 3, 2020… The audits are for the optics only…
The Democrats holding the keys to power are fighting all of this tooth & nail & they WILL NOT allow the GOP side of Congress to make election integrity laws that are honest laws for We The People, i.e. voter ID for starters, hence the big push on H.R. 1/ S.R. 1 election integrity laws making everything they ( Democrats ) did in the 2020 US presidential election legal & binding…
They WILL NOT concede on this issue, hence the military operation that takes over the entire 98% corrupted governmental system, all the way to SCOTUS…This is a major sting operation effort, along with indictments that involves both the domestic & foreign interference in our US 2020 presidential election…It takes time, it requires patience, it requires due diligence & it requires faith.
God bless America & the true POTUS, Donald J. Trump…
Bill on the Hill… :~) 7/24/2021

PaulE
2 months ago

It all depends on what you’re grading for. If you are grading for expanding the growing economy we had under President Trump, with pro-growth, pro-opportunity to move up the economic ladder, then yes Biden is an abject failure and he warrants not only an F, but to be immediately removed from office for what would charitably be called gross incompetence and willful under-mining of the American economy to the detriment of the American people. Anyone with even a basic understanding of economics would draw that conclusion.

If on the other hand, you’re grading Biden for reimplementing the same disastrous economic and regulatory policies of the administration in which Biden was the Vice President and that produced some of the most anemic and stagnant years of economic growth for this country in decades, then he warrants an A. Biden’s return to “managing the decline of the United States”, which is how Obama put it while he was in office, while also assisting in the rise of the Chinese economy to over-take us has been remarkably successful to date. Biden’s handlers, all Obama era retreads or fellow travelers from academia or leftist think tanks have had Biden reinstitute almost all of the Obama agenda in only six months. Amazing how fast the swamp can work, when it agrees with the agenda being pushed by fellow leftists. All while the average American with any sense of reality has been sitting by and watching in horror. Just like in a really bad B horror movie on a Saturday afternoon.

Then when you factor in all the proposed new economic killing regulations and taxes that are already being fed into the legislative pipeline, Biden’s grade would rise to a solid A+. As the rate of joblessness rises, companies flee off-shore back to China and take all those jobs with them. As inflation rises, because Biden has been systematically cutting the legs out from the American energy industry to clear the way for imported solar panels and wind mills from China. Thus increasing the transportation costs for all goods and services everywhere in the country and eventually making every state in the country look like California with its rolling brown-outs, black-outs and massive welfare based economic model.

So as I said, it all depends on what you’re grading for. To most of us, Biden is a complete disaster from an economic perspective both short and long term. To the left in this country, he is a hero for doing his best to crush capitalism and replace it with stagnant socialism. To China, Russia and Iran, Biden is the gift that just keeps on giving.

Colin Kobel
2 months ago
Reply to  PaulE

You have hit the old nail on the head! We Americans, especially the older generation won’t survive 3 and a half more years of this failing administration.

Bill on the Hill
2 months ago
Reply to  Colin Kobel

Colin, you are 100% correct sir… The CCP Democrats are heading into panic mode with the preliminary results of audits coming out, i.e. AZ is about to fall like a hot rock with arrests forthcoming. Georgia, BOTH elections are right behind them with PA right on their heels. Better than half the nations states now recognize all the irregularities, even states like Texas, which Trump won, but they are doing the audits anyways to further illustrate the consistent patterns of fraud committed in all ( 50 ) states…
It has to happen & there is NO stopping it now as ‘ Senile Joe & the Ho ‘ know it…Hence the panic!
Bill on the Hill… :~)

Bill on the Hill
2 months ago
Reply to  PaulE

Spot on assessment Paul… Do I sense some panic within the ranks of the usurpers?
I say look just over the Canadian border & tell me what you see, hint, they are wearing ‘blue helmets’.
Bill on the Hill… :~)

PaulE
2 months ago

Hi Bill,

I would say frustration more than panic. Trudeau and his administration seem more perplexed as to why the people outside of Toronto and Montreal aren’t just falling blindly in-line with the permanent state of centralized government control of everything that Trudeau is trying to impose on the country. You have to remember that most Globalists think the masses should just happily submit to whatever government dictates and when that doesn’t happen, most Globalists appear to be initially dumb-founded as to why the ignorant masses won’t happily comply.

Yes, Trudeau is relying more on the use of force (more restrictive laws and regulations with arrests and fines) to try and get the Canadian people to submit to his agenda, but that is typical of what you see in other countries as well when the people don’t just meekly submit and surrender their lives to a socialist regime.

After all, there is a reason why the Canadian government earlier banned a long list of firearms last year. See the Canadian list released May 6th, 2020. Trudeau, like Biden, is concerned, like any Socialist would be, that if the public gets fed up enough with the ever more restrictive nature of government regulations and lockdown edicts invoked upon a whim and ignoring the public’s dissatisfaction, that the public could conceivably push back. Honestly I don’t see any actions by Trudeau that deviate substantially to how Hitler or Lenin initially ruled to suppress the populace. If anything, Trudeau is moving a bit more slowly and gently than I would have expected in clamping down on his citizens.

Bill on the Hill
2 months ago
Reply to  PaulE

Hey Paul, all good stuff btw as I enjoy reading your thoughts on many different issues happening these days…
In my above comment with the ‘ blue helmets, ‘ I was referring to who is wearing them, that being allegedly UN forces with fully armored vehicles waiting for the word to cross the border into America to quell the extremists, i.e. Trump supporters…
I am hearing reports of UN personal setting up in warehouses & bases spread around the country in preparation for the Biden administrations final move to shut it all down.
This represents Biden’s i.e. ( handlers ) last desperate measure to hold onto their ill begotten power…If this in fact does happen whereas the UN troops spread out into our major cities to quell the violence of the extremists, i.e. Trump supporters or anyone else that doesn’t submit to their ideology & our military takes a back seat to all of this, now it is GAME OVER & America begins a civil war. This will be the moment China has been patiently waiting for all these years…
Bill on the Hill… :~)

Karen
2 months ago
Reply to  PaulE

Couldn’t say it better !! You have hit the nail on the head!!!!

Peggy
2 months ago
Reply to  PaulE

You hit the nail on the head!!! Biden is a disaster for us all

JOHN
2 months ago

There IS a massive storm cloud rumbling on the horizon! The Commie Democrat Socialists have pushed Americans in to an impending showdown.
Even a kind mild tempered dog when kicked enough WILL eventually BITE you!
It may well be very UGLY and people will be hurt but that also is the PRICE of Remaining We The People!

PaulE
2 months ago
Reply to  JOHN

All completely true.

Bill on the Hill
2 months ago
Reply to  JOHN

Well spoken John…Has the ‘GIANT’ been awakened yet?
Bill on the Hill… :~)

JOHN
2 months ago

Pray!
Keep the Faith and Principals of Our Founders!

JOHN
2 months ago

NOW that The Lunatic ol’ Puss For Brains is in charge of the Asylum the inmates are running wild!

Terry Brinker
2 months ago

What can you expect from a bunch of ass hats running the show?

Jeanne
2 months ago

He has done ZERO for America….yet other countries like Communist Russia, North Korea, and Iran are benefitting from his demented mind!!!
When are people going to wake up and realize that this Communist Regime we have running our country needs to GO????

PaulE
2 months ago
Reply to  Jeanne

We have way too many frightened people in this country unwilling to acknowledge that reality Jeanne. They’re all waiting to be “saved from themselves”, which would be funny if it weren’t so sad and pathetic.

Gary F
2 months ago

We knew this was going to be the case but many of the corporate media entities pushed false narratives and covered for the ineptitude of the Biden-Harris Clown Show!

Sheila
2 months ago

If we don’t soon do something there will be no such thing as freedom or even just the wonderful life we had living in America because Biden is trying to make it like one of the European places and we are not that

AnitaC
2 months ago
Reply to  Sheila

You’re so right – why hasn’t our Americans seen what this administration is doing… they voted Democratic because of their hate for trump … wonder if buyer’s remorse has set in.

Freedom Rings
2 months ago

Most of us knew it was going to be bad after a stolen election to get Biden in office. The “take down of America” is showing everyday. We’re in a fight for our lives in so many ways it’s unconscionable. We have declining personable safety every time an illegal unlawfully crosses the border. Socialism is starring us in the face. When are we, as American citizens, going to impeach Biden and Harris. Get Pelosi and Schumer and all the rest of the “commies” out of the WH ( term limits) and take back our Country. With Gods help we CAN SAVE the USA!!!!

Jim H
2 months ago

How could you have an improving economy with his terrible policy’s he’s put into effect. Just buying votes doesn’t improve the economy!

Stephen Solito
2 months ago

I was sure sometimes at our economy is better than what it is now it was back 4 years ago we had our jobs we had our strength we had our military rebuilt and jobs kept growing and growing and everybody is keep going and going this president that we have now it’s not a leader he has failed the American people he has failed the veterans and the disabled I hope as voters of America can change that next year and hope that we can strengthen our our country again

MB
2 months ago

That’s because illegitimate Biden is a failure in everything. Always has been, always will be

Patricia Caetto
2 months ago

And infectious open borders impeach the Biden administration for not keeping us safe as his job requires

DottiJ
2 months ago

I agree 100%! In fact, there are other impeachable offenses that would not be hard to find!

Bill on the Hill
2 months ago

There you have it, Bumbling Biden gets an ” F ” on his Report Card…
Now it’s time for the cognitive test Mr. Biden, are you up to it?
Show us what you got inside that head of yours…Is that an echo I hear?
Bill on the Hill… :~)

Robert
2 months ago

Precisely.

PaulE
2 months ago

He’ll never agree to take it Bill unless they can “persuade” the White House doctor to “massage the results” to show Biden is perfectly fine.

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