Well, we’ve pinpointed the big, ugly disconnect in the Biden economy, and it’s a massive YIKES. While Team Biden clumsily tries to sell us on the idea that the economy is fantastic and we’re better off than ever, the grim reality just got blasted out for all to see in one of the most alarming graphs ever. It shows that since Biden took office, household net worth has plummeted, sharply contrasting the financial stability many enjoyed under President Trump.

This graph once again proves that what we see firsthand everyday. The truth always “trumps” the Biden smokescreens and spin.

Here’s a closeup of the image:

Image

Inflation is shaping up to be one of the biggest deathblows to Biden’s reelection bid, and his flat-out refusal to acknowledge how awful his economy is will only make things worse, which is great news for us.

Fox News:

Gains in American households’ net worth have flattened during President Biden’s administration because of inflation, a new analysis finds.

A report by the Wall Street Journal analyzed changes in household net worth from the start of Biden’s presidency in comparison to those seen during the tenure of his predecessor and presumptive opponent in the 2024 election, former President Donald Trump. It found that in nominal terms, total household net worth rose by 19% through Biden’s first three years in office – a comparable figure to the 23% increase seen in Trump’s first three years.

However, when factoring inflation’s impact on household net worth, the data is less favorable for Biden. After adjusting for inflation, household net worth is up by just 0.7% through Biden’s first three years in office, whereas it was up 16% in Trump’s first three years.

At the time of Biden’s inauguration in January 2021, year-over-year inflation in the U.S. economy was about 1.4%. However, inflation surged due to global supply chain disruptions related to the COVID pandemic as well as elevated levels of government spending, peaking at a 40-year high of 9.1% in June 2022.

Typical. Biden can’t take responsibility for anything. The Fox News piece goes on:

The Biden administration has blamed global supply chain disruptions as the main factor causing inflation and has defended those pieces of legislation as providing critical financial support to American households as the economy dealt with the pandemic’s impact and addressing other pressing policy needs.

The White House has also pointed to other actions, like releasing oil from the Strategic Petroleum Reserve to give energy markets a boost, as ways it has looked to ease the sting of inflation.

The U.S. economy continues to experience elevated inflation, which came in at 3.4% in April. That’s well above the Federal Reserve’s target rate of 2%.

Bannon nails it. This is the sad reality of Biden’s cruddy, failed economy:

Unfortunately for Team Joe, all the propaganda and spin in the world can’t convince Americans that life is better now than it was under President Trump.