Last week, I debunked the Democrats false narrative of the Trump economy. Seems like Kamala still can’t tell the truth so I’ll say it again, slowly… Biden and Harris didn’t inherit a bad economy—they built one.
Under President Trump, the American economy was thriving. Then COVID hit. Even in the midst of a global pandemic, with Democratic governors and mayors keeping their economies locked down well beyond what was necessary, we were back on track when Biden took office. Biden and Harris inherited a resurgent economy, with GDP growth of 34.8% in the third quarter of 2020, 4.2% in the fourth, and 5.2% in the first quarter of 2021. By the end of that first quarter, real GDP had returned to its pre-pandemic high.
But then Biden and Harris decided to "fix" things by flooding the economy with trillions of dollars in welfare—driving up demand—while simultaneously crippling supply. They did this by restricting energy production and piling on regulations that stifled economic growth. This is Economics 101: too much demand, too few goods—that’s how you get inflation.
Now, Kamala wants to double down and inject trillions more into the economy by helicoptering $25,000 to every first-time homebuyer, expand the child-tax credit with no work requirements, and introduce price caps on every grocer in the country. Her “opportunity economy” doesn’t make sense unless your goal is to create an inflationary spiral that crushes working families and small businesses under the weight of bad policy and government overreach.