This article originally appeared on WND.com
Guest by post by Bob Unruh
President has pushed government spending into the stratosphere
Joe Biden has been touting his economy, which has seen inflation explode to more than 9%, mortgage rates balloon to the 7% plus range and millions of American families lose thousands of dollars in buying power, as Bidenomics.
That might not help him, heading into the 2024 presidential race, as a new report confirms that there’s a new – attention-getting – economic indicator flashing that “hasn’t appeared since the 1930s, during the height of the Great Depression.”
The warning comes from Fox Business, which explained, “if the White House and Congress do not cut inflation-causing government spending soon, the results could be catastrophic.”
The report noted that spending surged at the end of President Donald Trump’s term, because of COVID.
The Democrat Congress then handed out “vast amounts of money” to subsidize the economy, the financial system and more.
