Joe Biden Saturday night stopped to speak to reporters as he departed the White Home en path to Camp David, the presidential retreat in Catoctin Mountain Park in Maryland.
One reporter requested Joe Biden in regards to the abysmal economic system going into an election yr.
The US economic system is in unhealthy form due to Joe Biden’s tax-and-spend insurance policies, and ‘Inexperienced New Deal’ disguised because the ‘Inflation Discount Act.’
Biden’s huge authorities pink tape and trillions in spending have led to a poor economic system.
Moody’s Traders Service cut the US’s outlook to negative final month.
Moody’s lowered its scores outlook on the US authorities citing excessive rates of interest, authorities spending, and deficits.
Earlier this yr Moody’s cut its outlook for your complete US banking sector to unfavorable and put six banks on ‘downgrade’ watch.
The credit standing service’s transfer to downgrade your complete banking sector from ‘secure’ to ‘unfavorable’ will influence borrowing prices.
“Banks with substantial unrealized securities losses and with non-retail and uninsured US depositors should still be extra delicate to depositor competitors or final flight, with opposed results on funding, liquidity, earnings and capital,” Moody’s mentioned in its report in March.
The Federal Reserve raised rates of interest 11 instances for a complete of 550 foundation factors since final yr – 7 instances in 2022 and 4 instances in 2023 – in an effort to hedge inflation.
Inflation remains to be excessive, grocery prices are up greater than 19%, fuel costs are nonetheless excessive and greater than 10 million illegal aliens have poured over the border since Biden was put in in January 2021.
Biden admonished reporters and instructed them to report the economic system is “all good.”
“What’s your outlook on the economic system subsequent yr?” a reporter requested Biden.
“All good. Have a look! Begin reporting it the best method,” Biden mentioned.
WATCH:
“What’s your outlook on the economic system subsequent yr?”
BIDEN: “All good. Have a look! Begin reporting it the best method.” pic.twitter.com/dpRcDiq16S
— RNC Analysis (@RNCResearch) December 23, 2023