Fact Check on the Biden Administration and the Economy
President Joe Biden ran this post on Facebook Monday, December 27. Insinuating his economic recovery plan was a superior plan compared to Past Presidents. While Americans are suffering from inflation with the cost of food, gas, and other household necessities, the Biden administration is bragging about how amazing the economy is doing.
Contrary to his boasting, the Census Bureau reported, the administration fell short of the 0.8% growth that economists expected.
Retail sales which generally increase year to year saw a sharp drop from 2020 to 2021 as this graph from Oberlo shows.
The increase from 2019 to 2020 was despite the fact that the majority of the country was in lockdown due to Covid-19.
Inflation is soaring as Biden is boasting about his economic plan. Gasoline alone is up 58.1%. Coupled with a rise in energy of 33.3%. And America's food prices have hit a 39 year high in November.
Since wage increases have not compensated for inflation, it is readily apparent that Biden is not exactly giving Americans the facts on the economy.