Since Joe Biden set foot into the Oval Office, he’s been putting America through the wringer in one form or another.
Biden ripped away energy independence, commonsense border practices, and other policies that had the country on the right track.
Meanwhile, the president also tried to usher in dystopian policies, like COVID vaccine mandates; although, thankfully, this was not successful.
The Supreme Court threw out Biden’s vaccine mandate for large businesses and their workers.
Unfortunately, the aftermath of all the damage Biden has caused is continuing to play out. Now, one economist has warned the United States is officially in a state of decline, per Newsmax.
Troubling News For Every American
Stephen Moore put his economic expertise to work under the Trump administration. Moore’s work specifically involved working with the former president on various tax policies.
Now, Moore is warning the economy isn’t doing so well with Biden controlling the White House. According to the economist, there’s been a 30-times-over increase in the national debt since 1985.
Even former Obama-Biden Treasury Secretary Larry Summers now thinks there’s a more than 50% chance that an economic recession hits in the next 30 months.
Biden’s out-of-control spending will go down as one of the worst policy failures of our time.
— Rep. Claudia Tenney (@RepTenney) April 15, 2022
With the habitual rise of the national debt, Moore also warned that inflation isn’t doing the country any favors. The economist noted the current 8.5% rate of inflation exists because the government is out of control, notably when it comes to spending.
Later on, Moore explained that Biden’s choice to shut down Keystone XL pipeline in 2021 was actually a major asset to China and Russia, neither of which are US allies.
Finally, the economist stated that in order to reverse the downward spiral the country is currently on, the federal government’s spending needs to decline by at least 10% to 15%.
More Unsettling Warnings From Economists
Stephen Moore is far from the only economist warning that all isn’t well in America these days.
As much of the nation is very aware of, last month, the Federal Reserve chose to increase the rates of interest that Americans pay.
Of course, the central bank’s explanation says this move is going to lower inflation over the long term. However, economists don’t seem to think this.
MSNBC’s Chuck Todd: As inflation soars, Biden’s approval is at a “lackluster 38%.”
“A majority, 56% believe there will be an economic recession during the next 12 months. Bottom line, Americans see rising costs as the single sum of pending economic doom”
pic.twitter.com/fwBBiEQipD— Steve Guest (@SteveGuest) April 14, 2022
In fact, since interest rates got higher, economists have said the end result could be a recession before 2023 is over.
Needless to say, a recession would only further put the squeeze on the American public, making life and survival much more challenging than it already is.
Meanwhile, the Federal Reserve is disputing claims that its uptick in the interest rate will cause the United States to endure a 2023 recession.
What do you think about the warning that America is currently in decline and potentially looking at a recession next year? Do you believe it’s too late for the country to reverse course?
You’re more than welcome to let us know your thoughts in the section for comments.
