Liz Peek: The Great Biden Slowdown – here's how he stifled growth, discouraged consumers in just 9 months
What the Keystone Cops were to law enforcement, Biden, Pelosi and Schumer are to governing
Liz Peek
By Liz Peek | Fox News
Joe Biden has pulled off the incredible: inherit a booming economy and bring it to a near-standstill in just nine months.
When the president took office, the country was enjoying a robust V-shaped recovery, growing at better than 6%. The Federal Reserve was puffing up the money supply by $120 billion per month, consumers were sitting atop $2.5 trillion in excess savings, prices were stable and unemployment was falling fast. On Inauguration Day 1.6 million Americans received the COVID vaccine, optimism was rising and people were flush with trillions in relief funds.
To say that Biden entered the Oval Office with gale-force tailwinds at his back is "not hyperbole," as he might say.
Unhappily, even as many of those tailwinds persist, our momentum has collapsed.
In the last quarter, notwithstanding continued monetary largesse (some would say recklessness) from the Fed and an ongoing gusher of aid money flowing from the government, growth slowed to an anemic 2%, while the "price deflator," a.k.a. inflation, rose to 5.7%.
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https://www.foxnews.com/opinion/biden-economic-slowdown-inflation-consumers-growth-liz-peek
