Joe Biden Saturday evening stopped to talk to reporters as he departed the White House en route to Camp David, the presidential retreat in Catoctin Mountain Park in Maryland.
One reporter asked Joe Biden about the abysmal economy going into an election year.
The US economy is in bad shape because of Joe Biden’s tax-and-spend policies, and ‘Green New Deal’ disguised as the ‘Inflation Reduction Act.’
Biden’s big government red tape and trillions in spending have led to a poor economy.
Moody’s Investors Service cut the US’s outlook to negative last month.
Moody’s lowered its ratings outlook on the US government citing high interest rates, government spending, and deficits.
Earlier this year Moody’s cut its outlook for the entire US banking sector to negative and put six banks on ‘downgrade’ watch.
The credit rating service’s move to downgrade the entire banking sector from ‘stable’ to ‘negative’ will impact borrowing costs.
“Banks with substantial unrealized securities losses and with non-retail and uninsured US depositors may still be more sensitive to depositor competition or ultimate flight, with adverse effects on funding, liquidity, earnings and capital,” Moody’s said in its report in March.
The Federal Reserve raised interest rates 11 times for a total of 550 basis points since last year – 7 times in 2022 and 4 times in 2023 – in an effort to hedge inflation.
Inflation is still high, grocery prices are up more than 19%, gas prices are still high and more than 10 million illegal aliens have poured over the border since Biden was installed in January 2021.
Biden admonished reporters and told them to report the economy is “all good.”
“What’s your outlook on the economy next year?” a reporter asked Biden.
“All good. Take a look! Start reporting it the right way,” Biden said.
WATCH:
“What’s your outlook on the economy next year?”
BIDEN: “All good. Take a look! Start reporting it the right way.” pic.twitter.com/dpRcDiq16S
— RNC Research (@RNCResearch) December 23, 2023