Joe Biden’s presidency has a been a disaster.
Polls show the American people think the economy is spiraling downward.
Joe Biden’s plan for economic collapse will keep every American up at night.
As American Patriot Daily reports:
Joe Biden is presiding over a disaster of his own making.
Not only has the economy stalled out under his watch, but Biden’s own actions have made the situation much worse over the past year.
With inflation running out of control and the stock market beginning to crash, Biden has done nothing to address the problem, instead preferring to blow trillion of dollars on things like student loan bailouts and green energy cronyist kickbacks that will just make the crisis even worse.
And now, Biden is beginning to get hit with devastating news about the consequences of his own actions.
The Financial Times reports, “US employers cut more than 1mn job vacancies in August, in a sign that the Federal Reserve’s aggressive efforts to cool the economy are starting to hit the labor market.
“The monthly decline was the second sharpest in two decades of data, eclipsed only by April 2020, when widespread lockdowns froze hiring at the onset of the coronavirus pandemic.”
With the economy starting to seize up in the face of backbreaking inflation and a looming recession that threatens to put the economy on a collision course with disaster, Biden has continued to pursue policies which will make starting a business, hiring new employees, and making more goods and services harder rather than easier.
And now, after nearly two years of “Bidenomics,” it’s clear that his policies are hurting the country far more than they are helping.
“The figures come before the release of official jobs data on Friday, which will be closely watched by investors for its influence on how the US central bank will continue with its campaign to stamp out inflation that is running near its highest levels in four decades.
“Job vacancies, a measure of labor demand, stood at 10.05mn, according to data released on Tuesday by the US labor department, representing more than 1.1mn fewer listings than in July,” adds the Financial Times.
Now, many companies are scaling back their own spending and having to slash job openings, while others are starting to lay off workers as part of the growing signs that a recession has already begun to hit the American economy.
And rather than cut spending or taxes, Biden has doubled down on the same left-wing policies that will end up bankrupting the federal government and trigger a massive debt crisis that the Federal Reserve will be unable to address as it continues to try and bring inflation under control.