Biden and the economy

[seoulbro]

Biden has claimed repeatedly that his policies have resulted in record deficit reduction and a record number of jobs created.

But the truth is that deficit reduction and job creation are a result of the economy returning to pre-pandemic normalcy.

Regarding deficit reduction, the CBO has explained:

CBO projects that the federal budget deficit will shrink to $1.0 trillion in 2022 (it was $2.8 trillion last year) and that the annual shortfall would average $1.6 trillion from 2023 to 2032. The deficit continues to decrease as a percentage of gross domestic product (GDP) next year as spending related to the coronavirus pandemic wanes ...
Meanwhile, despite Biden's claim that he has created 10 million jobs, that job growth is related to people returning to the workforce. Those are not newly created jobs.

In fact, as of the latest jobs report, there are only 514,000 more jobs today than in February 2020 before the pandemic.
https://www.theblaze.com/news/jacqui-heinrich-calls-out-biden-economy?utm_source=theblaze-dailyPM&utm_medium=email&utm_campaign=Daily-Newsletter__PM%202022-10-25&utm_term=ACTIVE%20LIST%20-%20TheBlaze%20Daily%20PM

The American Rescue Plan contributed to inflation and the the lowered deficit is expired COVID spending programs.

[seoulbro]

U.S. business activity contracted for the fourth straight month in October, and the economic downturn “gathered significant momentum,” S&P Global said on Monday, while the White House touted low unemployment rates and credited President Joe Biden’s economic agenda for a “historically strong” economic recovery.

The S&P Global flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 47.3 this month from a final reading of 49.5 in September.

A reading below 50 indicates private sector contraction. Outside the slump during the first wave of the COVID-19 pandemic in the spring of 2020, business output is currently retreating at its fastest pace since the global financial crisis of 2008–09, according to S&P Global.

“The U.S. economic downturn gathered significant momentum in October, while confidence in the outlook also deteriorated sharply,” said Chris Williamson, S&P’s chief business economist, in a statement.

“The decline was led by a downward lurch in services activity, fueled by the rising cost of living and tightening financial conditions,” he added.

[lokmar]

Every democRAT government lies and gaslights throughout its tenure in an effort to justify itself. president reggin pissed on all of us and told us it was raining. What a bunch of shitbags!!!

[Oerdin]

The day before election day Biden declares at rally he will shut down all oil drilling in U.S..  Remember that next time some lying leftist claims high gas prices aren't the fault of Democrats.

https://www.breitbart.com/politics/2022/11/06/joe-biden-promises-climate-activist-rally-new-york-no-more-drilling/