When President Joe Biden stands before Congress and issues his State of the Union address Tuesday night, he will proclaim victory on the nation’s economy. Most Americans are going to wonder what country he’s talking about.
Yes, the jobs market is strong, and that’s good news. But sorry, Mr. President: The American economy is not strong. It isn’t even good.
The last two years have been pretty rotten on almost every metric: the squeeze on family finances, inflation, immigration, declining test scores in schools, the budget deficit and debt, out-of-control government.
Here are six fibs you’re very likely to hear the president recite Tuesday night. They should be tagged with the label of the left’s favorite word this year: “disinformation.”
1) Biden has reduced the budget deficit by $1.4 trillion.
Actually, no president in modern times even comes close to Biden in terms of fiscal recklessness. In his first two years, the national debt has risen by more than $4.2 trillion. That’s more than in any two-year period in American history.
The deficit shot into the fiscal stratosphere of $2.8 trillion in his first year in office, and in 2022 it was still at one of history’s highest levels, $1.4 trillion. Last year, our debt as a share of our gross domestic product hit an all-time high of 129%. Biden is like a schoolkid celebrating an improved report card because the first semester he got an F but the second semester a D-.