{"id":1170643,"date":"2021-12-29T20:04:38","date_gmt":"2021-12-30T01:04:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1170643"},"modified":"2021-12-29T20:04:41","modified_gmt":"2021-12-30T01:04:41","slug":"biden-lauds-strongest-first-year-economic-track-record-of-any-president-in-50-years-in-bizarre-tweet-despite-economic-crises","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-lauds-strongest-first-year-economic-track-record-of-any-president-in-50-years-in-bizarre-tweet-despite-economic-crises\/","title":{"rendered":"Biden Lauds \u2018Strongest First-Year Economic Track Record\u2019 Of Any President In 50 Years In Bizarre Tweet, Despite Economic Crises"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-lauds-strongest-first-year-economic-track-record-of-any-president-in-50-years-in-bizarre-tweet-despite-economic-crises%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1170643&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>On Wednesday, President Joe Biden was widely mocked online after he posted a tweet describing his economic track record as the \u201cstrongest\u201d of any Commander-in-Chief in the past half-century.<\/p>\n<p>\u201cWe\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years,\u201d Biden wrote. \u201cLet\u2019s keep the progress going.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">We\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years.<\/p>\n<p>Let\u2019s keep the progress going.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1476311650424832000?ref_src=twsrc%5Etfw\">December 29, 2021<\/a><\/p>\n<p>This claim was shared amidst an ongoing supply chain crisis and growing concerns regarding economic collapse and skyrocketing inflation.<\/p>\n<p>\u201cWhich one was the analyst,\u201d Greg Price <a href=\"https:\/\/twitter.com\/greg_price11\/status\/1476326996410089480\">asked<\/a>, alongside images of various celebrities, social media influencers, and singing nurses who have recently partnered with the Biden administration.<\/p>\n<p>However, despite Biden\u2019s claims, economists are slashing their growth forecasts for next year, in part because of the rapid spread of the Omicron variant, despite Biden\u2019s earlier promise to \u201cshut down the virus.\u201d<\/p>\n<p>According to <a href=\"https:\/\/www.wsj.com\/articles\/omicron-variant-is-expected-to-dent-global-economy-in-early-2022-11640631554?mod=hp_lead_pos2\">The Wall Street Journal<\/a>, Moody\u2019s Analytics chief economist Mark Zandi downgraded his first-quarter GDP prediction for the United States from 5.2% to 2.2%, as he \u201ccan see the economic damage mounting going into the first quarter.\u201d He noted reductions in travel spending, as well as the cancellation of arts and entertainment events.<\/p>\n<p>Meanwhile, Larry Summers \u2014 who worked as Treasury Secretary under the Clinton administration and National Economic Council director under the Obama administration \u2014 said during an interview with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-23\/summers-sees-risk-of-recession-soon-secular-stagnation-later\">Bloomberg<\/a> that the Federal Reserve\u2019s recent monetary policy taper came far too late and shared fears that the United States has produced an inflationary environment that will require a recession to escape.<\/p>\n<p>\u201cIf I thought we could sustainably run the economy in a red-hot way, that would be a wonderful thing, but the consequence \u2014 and this is the excruciating lesson we learned in the 1970s \u2014 of an overheating economy is not merely elevated inflation, but constantly rising inflation,\u201d Summers said. \u201cThat\u2019s why my fear is that we are already reaching a point where it will be challenging to reduce inflation without giving rise to recession.\u201d<\/p>\n<p>\u201cI\u2019m surprised by how low long-term interest rates are,\u201d Summers continued. \u201cMarkets are foreseeing that we will do what\u2019s necessary to contain inflation \u2014 and that process will be quite contractionary.\u201d<\/p>\n<p>As <a href=\"https:\/\/www.dailywire.com\/news\/biden-claims-economy-today-is-stronger-than-before-pandemic\">The Daily Wire<\/a> noted, this isn\u2019t even the first time Biden has made such an argument. Even after recent polls showed that the president\u2019s favorability ratings regarding the economy were lower than President Jimmy Carter\u2019s near the same time of his first term, Biden claimed earlier this month that the economy is stronger today than it was before the COVID-19 pandemic.<\/p>\n<p>In a virtual <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2021\/12\/22\/remarks-by-president-biden-in-meeting-with-the-supply-chain-disruptions-task-force\/\">meeting<\/a>&nbsp;with the \u201cSupply Chain Disruptions Task Force,\u201d Biden discussed the \u201cprogress\u201d the economy has made since he took office. <\/p>\n<p>\u201cToday, America is the only leading economy in the world where household incomes and the economy as a whole are stronger than they were before the pandemic, even accounting for price increases,\u201d he said.<\/p>\n<p>He then quoted an anonymous analyst who said that 2021 was the \u201cstrongest first-year economic track record of any President in the last 50 years.\u201d<\/p>\n<p>Ian Haworth is an Editor and Writer for The Daily Wire. Follow him on Twitter at <a href=\"https:\/\/twitter.com\/ighaworth\">@ighaworth<\/a>.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, President Joe Biden was widely mocked online after he posted a tweet describing his economic track record as the \u201cstrongest\u201d of any Commander-in-Chief in the past half-century. \u201cWe\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years,\u201d Biden wrote. \u201cLet\u2019s &#8230;<\/p>\n","protected":false},"author":77,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1170643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1170643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1170643"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1170643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1170643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1170643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1170643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}