Late last week, the markets took a nosedive following the release of dismal economic data in the US manufacturing sector and a disappointing July jobs report. Not only were the latest job numbers underwhelming, but the figures from previous months were also revised downward. The unemployment rate has now surged to 4.3 percent. The dreaded word ‘recession’ has resurfaced, with growing speculation about whether the Federal Reserve might need to consider an ’emergency’ rate cut. As the markets opened yesterday, anxiety was palpable, sending stocks plummeting. While market fluctuations are normal, the American public is now facing a harsh reality: in addition to dealing with prices that are 20 percent higher across the board under Biden and Harris, they must now brace for a potential recession that could inflict even more economic pain.
Sadly, such pain is an inevitable outcome of rampant inflation. Everything is more expensive, and now the economy is grinding to a halt. This is the essence of Bidenomics, and Kamala Harris, the co-pilot of these policies, is inexplicably proud of them:
"I cured the economy."
— RNC Research (@RNCResearch) August 5, 2024
— Joe Biden (six days ago)pic.twitter.com/SMsXKVfljw
Harris’s apparent pride in these policies is perplexing. Does she still stand by her previous endorsements, or will her campaign team scramble to distance her from the term ‘Bidenomics’ and avoid questions on the matter? Joe Biden’s approval rating on the economy is currently more than 20 points underwater. Yet, he recently claimed their policies have ‘cured’ the US economy. Does Harris agree with the President’s rosy assessment, or will she evade addressing these critical issues? Harris has supported every element of Bidenomics, lauding its supposed success. However, her independent policy preferences are even more radical. If the trillions already spent have caused this much inflation, one shudders to think of the impact of her Green New Deal and government-controlled healthcare proposals, which together could cost around $10 trillion annually. Last year, the federal government spent over $6 trillion in total.
It’s worth noting that Harris and Biden excel at spending taxpayer money, but delivering positive results is an entirely different story. This latest market turmoil underscores the dire consequences of their economic policies, and the American people deserve answers from those responsible.
Kamala Harris and Jon Tester spent $42B for rural broadband – but 3 years later not a single home has been connected.
— Matt Whitlock (@mattdizwhitlock) August 4, 2024
They spent $8B for EV charging stations – and have only constructed 7.
They spent $5B for electric school buses – and they’ve only made 60 ($830M per bus) https://t.co/N16r8MZtp4
