Former House Speaker Newt Gingrich has suggested that President Joe Biden’s “economic failures” could be his downfall in November’s presidential election.
Gingrich says Bidennomics’ long-term inflation impact will be ‘staggering’ I have written The price Americans are paying has “soared” since Joe Biden took office Thursday.
In just three and a half years, “the price of eggs has increased by 49.3 percent, gasoline has increased by 47.5 percent, peanut butter has increased by 40 percent, butter and margarine has increased by 32 percent, electricity prices have increased by 28.3 percent, and airfares have increased by 28.3 percent. “was up 32.7%, used cars are up 20.9%, and the list goes on,” Gingrich said of this week’s bad economy, with employment declining while inflation continues. I wrote this in reference to the news.
“We are hopelessly in the land of bidenomics, where a gallon of gas and 12 eggs cost about $4 each, and loan sharks are the only way to make your monthly money.” https://t.co/Jnxet4bZ4g
— Breitbart News (@BreitbartNews) April 11, 2024
Gingrich said inflation continues to rise even after the Fed pushed interest rates to a 23-year high because the Fed’s restrictive policies toward the private sector are more than offset by “the Biden administration’s huge deficits.” He pointed out that this is because they are being treated as such.
“The Biden administration continues to pump borrowed money into the economy even as the Fed attempts to drain liquidity from the system and force a slowdown to reduce inflation,” Gingrich added.
He cited polls showing that while most Americans rate the economy as bad, only 38% believe the economy is in good shape. “We are feeling these price increases and are dissatisfied with them.”
“If voters are pessimistic about the economy, persistent inflation is reason enough.” wall street journal editorial committee I have written Wednesday. “The price increases during President Biden’s term are unlike anything Americans have seen in decades.”
Biden mixes are dark https://t.co/f0ByiCQiXy
— Breitbart News (@BreitbartNews) April 9, 2024
Gingrich also pointed out that over the past 12 months, American employment has declined by 651,000, while foreign-born employment has increased by 1.266 million over the same period.
Perhaps even worse, he added, is that the unemployment rate for blacks, or African Americans, has increased from 5.1 percent to 6.4 percent in the past year.
“So Bidennomics means higher prices, fewer jobs, more part-time employment, and a hopeless sense that things are not going well,” Gingrich summed up, noting that the mainstream media is trying to explain the situation. Despite efforts to bring this to the surface, ordinary Americans know that “this is how life is.” It’s gotten even harder under Biden.”
“Simply put, Bidennomics is about getting less in order to get more,” Gingrich concluded, adding that if things continue, in November, “Bidenomics is It could be Biden’s downfall.”
