Former President Donald Trump recently shredded Joe Biden’s economic agenda, claiming it is destroying the United States economy. According to Trump, “Bidenomics” is leading the country into another “Great Depression.”
Trump claims the damage Biden has done to the American economy surpasses that of any president in history. “If you took the five worst presidents in the history of the United States and added them up, they would not have done near the destruction to our country as Joe Biden and the Biden administration have done in a few short years,” Trump stated. “And no damage has been worse than the disaster known as Bidenomics.”
According to prepared remarks, Trump called out the historically high inflation American consumers have experienced in the last few years. “Since Joe Biden took office, cumulative inflation has reached almost 20 percent — and the dollar has lost more than 20 percent of its value in just three years’ time,” he said.
He also slammed Biden and the Democrats for exorbitant fiscal spending, which many have criticized the president for, especially in times of high inflation. “Joe Biden has blown through $11.5 trillion dollars in wasteful spending — equivalent to $88,000 dollars taken from every American family. Under Biden, the budget deficit is exploding and set to more than double this year alone.”
The former president highlighted the noticeable decline in American manufacturing. Such jobs are key to providing stable incomes to working-class families. “Manufacturing has contracted ten months in a row, and monthly jobs reports have been revised downward every single month of 2023,” Trump said.
Biden has attempted to brag about the number of jobs he has created during his presidency. However, Trump gave perspective to the labor market under his watch, which far outpaced Biden. “During Biden’s first 30 months in office, just 2.1 million new jobs have been created nationwide. By contrast, during the first 30 months of President Trump, we created 4.9 million new jobs, shattering all predictions.”
Furthermore, Donald Trump points out that real incomes, income that considers purchasing power impacted by inflation, are down substantially. “Under Biden, real incomes have gone down by $7,400 dollars per family. Under President Trump, yearly income went up by more than $6,000 dollars.”
Trump ultimately claimed all these economic indicators spell disaster for everyday Americans. He offers voters the option to put him back in office to restore the American dream and make the economy great again.
“We’re heading into a great depression,” Trump said. “The only question is whether or not it will be during the remaining months of the Biden administration, or will the next president have to bear the brunt of what Biden has done to our country? I don’t want to be the next Herbert Hoover — and I won’t let that happen.”
“If you want the Bidens to make millions selling out America to China, Russia, and Ukraine while your savings go up in flames, then vote for Crooked Joe. If you want better jobs, higher wages, and an affordable American Dream, then you must vote for your favorite president, Donald J. Trump,” Trump said.
"*" indicates required fields