New car prices reach $48K, thanks to Biden.

Record High Car Prices Under President Biden

Are you in the market for a new car? Be prepared to pay a pretty penny. The average price of a new car has skyrocketed under President Joe Biden’s administration, with prices now reaching a staggering $48,008. That’s a 30% increase from March 2020!

Manufacturers are also selling fewer new cars than before the pandemic, with the more expensive models taking priority. This means that if you’re looking for a new car, you may have to settle for a pricier option.

Americans Dissatisfied with Biden’s Handling of the Economy

It’s no surprise that these record high car prices are contributing to Americans’ dissatisfaction with President Biden’s handling of the economy. In fact, a recent ABC/Washington Post poll found that the majority of voters (54%) believe that former President Donald Trump did a better job with the economy.

What’s more, the same poll reported that President Biden’s approval rating has hit an all-time low of 36%. That’s 1 point down from a Gallup poll published in April.

President Biden Blames the Media

In a recent interview, President Biden blamed his poor approval numbers on the news media. “All they’ve heard is negative news for three years,” he said, adding that the only way to get a “hit” is to focus on negativity.

Economists Predict a Recession

As if things couldn’t get any worse, economists are predicting a 61% chance of a recession within the next 12 months, according to The Wall Street Journal’s April Economic Forecasting survey.

Don’t Let Record High Car Prices Get You Down

While the current state of the economy may seem bleak, it’s important to stay positive and keep pushing forward. Consider buying a used car or exploring alternative transportation options. And remember, this too shall pass.