President Joe Biden’s economic performance is so indefensible that he has resorted to distorting his predecessor’s record, as if that will distract from the current economic malaise. It’s much like how Pinocchio, when caught doing wrong, lied about everyone around him to distract from his own failures and to blame others.
But the average American is suffering financially so much that no amount of gaslighting can distract from his current plight, and the numbers prove it. Fully 60% of American families are living paycheck to paycheck, and a record number of people have had to take on a second or third job.
That still isn’t enough to pay the bills, which is why there’s a record $1.1 trillion of credit card debt and a collapse of the savings rate to levels lower than before the COVID-19 pandemic. The combination of racking up debt while depleting assets caused…
