Joe Biden recently claimed the U.S. has the world’s strongest economy. However, many people disagree with Biden’s statement. Here are the key points:
- The GDP growth rate is just 1.6%, which is very low
- Over 1.7 million full-time jobs have been lost in 5 months
- 26% of Americans struggled to afford food in the past year
- New polls show Trump leading Biden in several swing states
So, is Biden out of touch with the economy? Let’s take a closer look.
Biden’s “Strongest Economy” Claim
Last week in New York, President Biden made a bold claim, saying the United States has “clearly the strongest economy in the world.” However, the latest data tells a different story.
The GDP growth rate for the first quarter of 2024 was just 1.6%. GDP measures how much the economy grows over time. A 1.6% rate is considered very low and potentially concerning.
Former President Donald Trump quickly criticized Biden’s statement. Trump pointed out the weak 1.6% GDP number, saying “It’s a shame, it’s all the way down to 1.6% and nobody thought it would be possible.”
Job Losses and Economic Struggles
Besides slow GDP growth, the U.S. economy has also suffered significant job losses recently. Over the past five months alone, 1.7 million full-time jobs have disappeared, according to government data.
Perhaps more alarmingly, a recent Gallup poll found that 26% of Americans have struggled to afford food in the past year. That’s over one in four people having trouble putting meals on the table.
Trump Leading Biden in Swing State Polls
New polling data from Bloomberg offers more bad news for Biden on the economy. The survey found that 70% of respondents believe the economy is on the “wrong track.”
The poll also showed Trump leading Biden by solid margins in several key swing states for the 2024 election:
- Wisconsin: Trump +4
- Arizona: Trump +7
- Georgia: Trump +6
- Pennsylvania: Trump +2
- Nevada: Trump +8
- North Carolina: Trump +10
Only in Michigan did Biden hold a narrow lead over Trump in the swing state polling.
Criticism of Biden’s Economic Leadership
Critics like presidential candidate Vivek Ramaswamy argue these economic woes and poll numbers show Biden is “wildly out of touch.” They compare Biden’s struggles to former President Jimmy Carter, who faced similar stagflation issues in the late 1970s.
“Biden is now at risk, for good reason, of being the Jimmy Carter of our day,” Ramaswamy said on Hannity. He cited rising prices, higher mortgage rates, and stagnant wages under Biden as major problems.
Ramaswamy also emphasized that economic concerns and border security are now the top two issues for most Americans based on polling data. He urged Republicans to offer clear policy solutions to the economy rather than just criticize Biden.
Looking Ahead to 2024
While Trump is currently favoured in head-to-head matchup polls, Ramaswamy cautioned Republicans against becoming overconfident or complacent. He stressed the need for decisive victories in both the House and Senate to enact a conservative economic agenda.
“Complacency is not an option,” Ramaswamy stated. “We need to actually deliver victory…without just worrying about the other side. That’s how we’re going to win this election.”
So, while Biden seems out of touch by claiming theย strongestย economy, Trump and Republicans still have work to do to convince voters that they can improve the situation. How will this economic messaging play out on the campaign trail? Only time will tell.
