Biden makes many ridiculous claims about the economy on social media. Biden is defeated when the press follows along. Spreading a lie becomes difficult when Americans see the truth on their bills and in the checkout lines.
Data from the University of Michigan Consumer Surveys shows a steep drop of 30 points for the buying conditions of homes. It is a record and surpasses the 40-point decline experienced at the middle of 1980s.
In just four years, the index of home buying conditions has fallen by 73 percent.
This is also true of the decreasing purchasing conditions for other items, such as cars and appliances.
Homebuyer conditions for US consumers plummeted to their lowest level in history this month.
The index of buying conditions for houses fell to ~30 points which is below the previous low of ~40 points in the early 1980s.
In just 4 years, conditions for buying a house have… pic.twitter.com/M4lKxKTXSp
— The Kobeissi Letter (@KobeissiLetter) May 27, 2024
Biden’s Build Back Better bullcrap claimed to stimulate the economy while avoiding inflation, but now we are at multi-decade highs because of a conflict on which he decided to spend billions on taxpayer dollars as well as disruptions in supply chains due to various reasons. The open borders have led to increased crime and forced taxpayers to spend billions on these issues.
Biden’s Administration did all the things that you shouldn’t do to an economy. People can even make a convincing case that it was done intentionally.
There are some leftists in the room who claim that Biden did a good job handling the economy but can’t understand why their rent has gone up.
Is the economy better under Biden? pic.twitter.com/npDo15K0zY
— Defiant L’s (@DefiantLs) May 15, 2024
As we reported previously, Biden is also concerned about the inflation issue. In spite of the worsening purchasing conditions, home values are only up by less than 1%.
WSJ reported that the net worth of a household increased by 19% during Biden’s tenure. It rose by 23 percent more during Trump’s term.
The result is basically flat when you take inflation into account.
Joe Biden might not say it, but people are feeling crushed.
Inflation-adjusted change in household net worth after three years in office:
BIDEN: +0.7%
TRUMP: +16% pic.twitter.com/3rh8loB1aS
— RNC Research (@RNCResearch) May 19, 2024
These numbers are enough to speak for themselves. We’ve never seen a worse economy. Biden has failed.
The anchor around the neck of Democrat Party will be 2024.
