On Thursday, Biden gave a speech at the Asia-Pacific Economic Cooperation summit, during which he mentioned a variety of economic statistics before saying that the American people who are concerned about the economy feel a “disconnect” between the “numbers and how people feel about their place in the world right now,” the Daily Fetched reported.
Even though Biden previously said that his “Bidenomics” is a success, the reality seems to be different, with 61% of Americans struggling and 75% of U.S. adults thinking the economy is in a “fair” or “poor” state.
“The last quarter, the American economy grew 4.9%. The highest growth rate in two years. More people in the United States are in the workforce today than at any time in American history. Unemployment has been under 4% for 21 straight months,” Biden said during his speech.
He then continued lying by saying that the inflation is coming down.
“Inflation has come down by 65%, and more to do. I mean, we know have the lowest inflation — the lowest inflation rate of any advanced economy in the world. Meanwhile, median household wealth has grown by 37% in real terms since before the pandemic,” he said.
While 16% of Americans believe the economy is getting better, 56% of U.S. adults say the economy is getting worse, a September YouGov Poll revealed.
“I acknowledge there’s a disconnect between the numbers, and how people feel about their place in the world right now. We can deal with the second part as well. We still have work to do,” Biden said.
The news source additionally reported that Democrats started distancing themselves from the word “Bidenomics” because it became synonymous with inflation, unemployment and soaring gas prices.