June 21, 2022

Joe Biden Keeps Lying About the Economy

He claims his opponents are the guilty ones, but he’s just mad that most Americans know the truth.

“I don’t want to hear any more of these lies about reckless spending,” Joe Biden thundered a week ago. “We’re changing people’s lives.” Indeed, he is changing people’s lives … for the worse. And he’s lying about it nonstop.

Biden’s reckless spending in the so-called American Rescue Plan is a huge factor in our present inflation crisis. According to author James Bovard: “Federal Reserve analysts estimated that Biden’s deluge of handouts added 3% to the inflation rate by late last year. The Federal Reserve has boosted the money supply by 40% since the start of the pandemic, helping fuel price surges across the board.”

Meanwhile, the president loves to crow about all those jobs he supposedly created. “We’ve created 8.7 million new jobs in 16 months, an all-time record,” he said shortly before the lie about lies. The reality, of course, is that more than 20 million jobs were killed by shutting down the economy in March 2020. Biden is arbitrarily claiming credit for 8.7 million people returning to work several months after recovery had already started on Donald Trump’s watch.

Biden wants all kinds of credit and thanks for that. But he doesn’t want any blame for the negative effects of his policies. The inconvenient truth is that his recovery, such as it is, has been far more expensive and slower than it should have been.

For example, part of the American Rescue Plan was allocating $350 billion for state and local governments that were not, in fact, all that strapped for cash. Part of the goal was ostensibly to save lots of government jobs. According to a new study by the National Bureau of Economic Research, “Through September 2021, we estimate that the federal government allocated $855,000 for each state or local government job-year preserved.” The study’s authors say this yielded “modest if any spillover effects onto the broader economy.”

Journalist Brad Polumbo puts that in perspective: “The feds spent nearly a million bucks for every job they ‘protected’ for a year. (That’s probably about 10 to 8 times as much as these jobs actually pay…) Does that sound like an efficient use of taxpayer money to you?” No, it doesn’t. Polumbo continues, “The federal government wasted hundreds of billions of dollars to protect laughably few government jobs at a wildly inefficient rate with basically zero stimulative effect on the economy.”

Why, it almost seems like that qualifies as “reckless spending” and that Biden is the one who’s lying.

Indeed, when it comes to lies about the economy, Scranton Joe’s got a few. We can’t possibly recount them all here, but take, for instance, his false claim that “since I took office, families are carrying less debt [and] their average savings are up.” Both specifics are exactly the opposite.

Or how about his insistence that inflation “is worse everywhere but here.” That too is false. Among G20 countries, just six of them have inflation rates higher than the U.S. right now.

Think back to his lie last summer that “no serious economist” is talking about long-term inflation. It was a lie then, and it’s especially obtuse in retrospect given that plenty of serious economists predicted exactly this result from Biden’s reckless spending.

Arguably, Biden’s most famous lie right now is the whole “Putin’s price hike” canard. As if inflation hadn’t already careened out of control before Vladimir Putin invaded Ukraine. Yes, that invasion caused major supply disruptions of oil and gas, as well as wheat and fertilizer, all of which drive up the price of goods here in America. But no one in their right mind thinks Putin would have invaded if Biden weren’t president, so even the blame Putin deserves doesn’t let Biden off the hook.

Even Democrats aren’t buying Biden’s blame game.

Given Biden’s deceitful track record, what worries us most now is his latest dismissal of recession fears. GDP fell in the first quarter and the second quarter isn’t looking good. Two straight quarters of contraction is technically a recession. Asked by a reporter about predictions that recession “is more likely than ever,” Biden shot back: “Not — the majority of them aren’t saying that. Come on, don’t make things up, OK? Now you sound like a Republican politician. I’m joking. That was a joke.”

“There’s nothing inevitable about a recession,” he added. [Gulp.]

Perhaps veteran political analyst Rich Lowry put it best: “According to Biden, things supposedly are never as bad as they seem, and by the way, even if they are, they are definitely not his fault.”

Maybe someone should tell the president that we don’t want to hear any more of his lies.

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!


The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2024 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.