This market drop means
more Americans will be forced to put off retirement. And it’s partly responsible for flipping Biden’s debt/savings claim on its head. Federal Reserve data shows
household debt has increased $1.5 trillion since Biden took office, including
record credit card debt of $1.103 trillion in April.
Savings, meanwhile, fell by $9,000 over the past year.The Federal Reserve is expected to raise interest rates today by either 50 or 75 points. That’s necessary chemotherapy of sorts, and it could drive us toward recession. Many business leaders and economic experts think that’s exactly where we’re headed.
Consumer confidence is plunging, and we expect they’ll take it out on the responsible political party that’s in charge of both ends of Pennsylvania Avenue. Indeed, Biden’s polling average keeps dropping to new record lows.
The biggest news from his 38.9% approval rating, though, is that 38.9% of Americans are that blind, ignorant, or willfully foolish — as were the (ahem) 81 million voters who chose Biden and saddled us with this mess. 
“I think, actually, that if you had the right set of policies put in place, we could avert a recession. We could get back on a good path,” economist Stephen Moore argues. “I think what worries me, and also worries the financial markets, is there’s not a hint out of this White House that they’re going to change strategies. None.”
Biden is changing people’s lives, alright. For the worse. And yet his message is, Shut up and be thankful.
