The Truth About Our Economy
GOP Primary voters were recently polled on what the number one issue in America is. It’s no surprise that immigration has moved to the top of the list, but directly below it was the economy. With several recent articles focusing on the volatile southern border situation, we wanted to provide some information on the #2 issue that examines actual numbers and the true economic conditions we are currently experiencing.
Let’s be real—we all know Bidenomics is not working. Even lovable Muppet, Elmo, was bombarded with economic woes upon his wellness check on his followers. He recently tweeted the following on X:
You can just imagine what type of comments he received. Social media followers pointed out the impending doom we are all feeling as WWIII seems to be looming. And a lot of folks were just downright ornery when it came to their wallets:
“Elmo, my man, you been to the grocery store lately? I don’t know if you drive, but you filled up a gas tank?”
But perhaps the most ridiculous response was from our Commander-in-Thief, himself, with this frivolous, gooey gaslighting (perhaps he is hiring 1st graders for PR consultants to meet his DEI quotas):
(We hope you were able to hold down your dinner after reading that!)
But the best response was from conservative activist, author and lecturer, Brigitte Gabriel:
“America is struggling, Elmo. We need Trump back!”
The Numbers - Just the Facts, Ma’am
Let’s start with the Gross Domestic Product (GDP). The GDP is a comprehensive measure of U.S. economic activity. It measures the value of the final goods and services produced in the United States. This is based on spending, not output. It consists of consumption spending, plus private investment spending, plus government spending, plus what we net spend on trade (what we take in from exports minus what we spend on imports).
What is the current GDP? According to CNBC, the 4th quarter GDP rose by 3.3% ($323 billion), with the U.S. economy for all of 2023 accelerated at a 2.5% annualized pace. They state that a strong rate of consumer spending helped drive the expansion, as did government spending. This appears to be a positive trend. Here’s what the president’s handlers tweeted out:
But is that actually true? Here’s a deeper drive from Zero Hedge.
“While Q4 GDP rose by $329 billion to $27.939 trillion, a respectable if made up number, what is much more disturbing is that over the same time period, the US budget deficit rose by more than 50%, or $510 billion. And the cherry on top: the increase in public U.S. debt in the same three-month period was a stunning $834 billion, or 154% more than the increase in GDP. In other words, it now takes $1.55 in budget deficit to generate $1 of growth... and it takes over $2.50 in new debt to generate $1 of GDP growth!
Essentially, the U.S. GDP is now nearly completely dependent on government spending.
So, this means that our debt grew by $2.581 trillion last year. Therefore, every dollar in GDP growth cost $1.69 in new debt, which also means that every new job cost future generations of Americans $957,100.48.
Another staggering fact is that all jobs created since 2019 have gone to foreign-born workers. How is that possible? The data is clear.
Economic Outlook 2024
So how are things looking in 2024?
“While so far economic growth has held up well and inflation has been coming down, there is a high risk that we will experience an economic recession before the 2024 election,” Desmond Lachman, senior fellow at the American Enterprise Institute, told The Epoch Times.
The U.S. economy is yet to see “the full effects of the Federal Reserve’s monetary policy tightening, and there are major problems in the commercial real estate space that could trigger another regional banking sector crisis.”
The Conference Board, a nonprofit business think tank, predicts that the recession will arrive in the first half of the year.
“We forecast two quarters of negative growth that will be broadly felt across the economy,” Erik Lundh, principal economist at the Conference Board, said in a recent report.
Although this contraction will be limited in depth and duration, Mr. Lundh said he still expects it to be officially designated as a recession.
In terms of the job market, there is guarded optimism. It appears some companies are ramping up their recruitment efforts, anticipating future growth. However, many analysts predict that the labor market will soften in 2024, with hiring slowing significantly compared with the previous two years, resulting in an increase in the unemployment rate by year’s end.
No one can accurately predict what the future holds, especially in these very uncertain times. Experts make their best educated guess, but keep in mind, they are just that--guesses. Make it a point to do your own research as the devil is always in the details. Our government is betting on us NOT doing the research, as proven by their complete lack of respect for the truth. They also rely on the state-run mainstream media, their propaganda machine, to operate as an echo chamber repeating all their lies. It is almost like they think most people don’t know how to find the actual truth on other media platforms like “X,” “Rumble” and now the Tucker Carlson Network (TCN) that reaches much larger audiences than their old-school cable television stations like CNN or absurd network TV shows like “The View.”
You don’t have to be an economist to know the economy isn’t performing well. Just read the comments on the Elmo post. As much as this administration tries to paint a rosy picture, the real evidence is in how you can make ends meet. With the current sky-high interest rates, young first time home buyers are resorting to purchasing a 300 square foot prefab house from Amazon. Bidenomics is shrinking the American dream—that’s the sad truth about our economy.