Anyone actually living in Biden’s economy knows things didn’t suddenly get better over the last three months. Just because the government spent more taxpayer money on boondoggles and pet projects doesn’t cover up the fact that Americans are draining their savings to afford things.
The increase in consumer spending that the BEA pointed to was mainly due to increased spending for housing, utilities, prescription drugs, and vehicles. So GDP increased because families are spending more money on the same things they’ve always bought. This cloud doesn’t even have a silver lining.
Editorial cartoon by Michael Ramirez. Commentary by R. Mitchell, Editor-in-chief.
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