House Deputy Whip Guy Reschenthaler (R-PA) slammed President Joe Biden’s economic record, calling it “abysmal” and noting the impact it has had on ordinary people.
Reschenthaler claimed the gross domestic product only surpassed expectations once in the seven quarters under Biden’s administration so far, which has had a negative effect on inflation and has increased the costs of living.
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“Joe Biden has managed to disappoint not only Wall Street by not meeting or beating expectations in seven or eight quarters already — he’s beaten expectations once in seven quarters; it’s quite astounding, his horrible, abysmal record of failure here. But he’s also disappointed Main Street,” Reschenthaler told Fox News’s Maria Bartiromo.
“If you go into a grocery store, people are having a hard time affording basic necessities. They’re having a hard time filling up at the pump at gas stations. The average American has lost between $7,000 and $8,000 dollars a year just because of Biden’s inflation,” he said.
Inflation has been high under Biden, but recent reports have shown a decrease in inflation in recent months. For example, the consumer price index charted inflation as dropping to 5% in the year ending in March — the lowest such rate since May 2021. However, core inflation, which strips out volatile food and energy prices, rose 0.3% from February to March.
Former President Donald Trump also recently attacked Biden over the economy. He said the current president took down a strong and “booming” economy and replaced it with one plagued with high inflation.
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“When I left office, we handed Joe Biden the fastest economic recovery ever recorded — all with no inflation,” Trump said in New Hampshire on Thursday. “He took that booming economy, and he promptly blew it to shreds.”
The Democratic National Committee rejected Trump’s characterization, stating that Trump’s job record was the “worst since the Great Depression” and that Trump rigged the economy for the “ultra-wealthy and biggest corporations.”
