{"id":2319602,"date":"2024-08-05T17:37:00","date_gmt":"2024-08-05T21:37:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-top-economic-adviser-quits-as-stock-market-tanks-will-join-kamala-harris-campaign\/"},"modified":"2024-08-05T17:40:53","modified_gmt":"2024-08-05T21:40:53","slug":"bidens-top-economic-adviser-quits-as-stock-market-tanks-will-join-kamala-harris-campaign","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-top-economic-adviser-quits-as-stock-market-tanks-will-join-kamala-harris-campaign\/","title":{"rendered":"Biden&#8217;s Top Economic Adviser Quits as Stock Market Tanks, Will Join Kamala Harris&#8217; Campaign"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/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%2Fbidens-top-economic-adviser-quits-as-stock-market-tanks-will-join-kamala-harris-campaign%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=2319602&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>The\u2063 article discusses the recent announcement that Gene Sperling,\u2064 a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-relentlessly-peculiar-notion-of-government-fighting-inflation\/\" title=\"The Relentlessly Peculiar Notion Of Government &quot;Fighting&quot; Inflation\">senior economic adviser<\/a> in the Biden administration,\u200c will transition to a role as a senior economic adviser to Vice President \u2064Kamala Harris, who\u200c is expected to be the Democratic\u2063 presidential nominee for 2024. This news coincided with a significant drop in\u2064 the U.S. stock market, attributed to ongoing economic concerns related to &#8220;Bidenomics,&#8221;\u200d which both Biden and Harris advocate. Critics have taken note of the timing, as it follows a\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-seize-on-dismal-jobs-report-economy-has-a-fever-and-the-only-prescription-is-more-spending\/\" title=\"Dems Seize on Dismal Jobs Report: Economy Has a Fever and the Only Prescription Is More Spending\">dismal jobs report<\/a> that\u2063 may signal a potential recession. <\/p>\n<p>President Biden praised Sperling&#8217;s contributions, claiming he played a crucial role in \u2064the administration&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mcconnell-the-private-sector-needs-to-stop-acting-like-a-woke-parallel-govt\/\" title=\"McConnell: The private sector needs to stop acting like a \u2018woke parallel govt.\u2019\">economic recovery efforts<\/a>. \u2062However, many commentators pointed out that under Sperling\u2019s guidance, economic issues such \u2063as\u200c inflation and a\u2062 housing crisis have persisted. The article highlights skepticism\u200b surrounding Biden&#8217;s economic policies, with critics on \u200dsocial media mocking the timing of Sperling&#8217;s departure amid economic turmoil, \u2064suggesting it\u200b reflects poorly on Harris&#8217;s campaign \u2063prospects. the\u2062 narrative illustrates the growing concerns\u200d and criticisms regarding the current \u2063administration\u2019s economic management ahead of the upcoming elections.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section> <script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><script>console.log(\"ad slot (REP_0)\")<\/script><\/p>\n<p>If nothing else, this announcement&rsquo;s timing reminds us that the stench of failure emanates from every conceivable corner of the Biden administration.<\/p>\n<p>According to <a href=\"https:\/\/apnews.com\/article\/biden-campaign-sperling-gene-pandemic-07a9c4667c02dc9fba3ae09e08401549\" target=\"_blank\" rel=\"noopener\">The Associated Press<\/a>, White House senior adviser Gene Sperling will leave his position to serve as a senior economic adviser to Vice President Kamala Harris, the presumptive 2024 Democratic presidential nominee.<\/p>\n<p>That announcement came as the U.S. stock market <a href=\"https:\/\/www.westernjournal.com\/bidens-words-6-days-ago-come-back-haunt-economic-disaster-strikes\/\" target=\"_blank\" rel=\"noopener\">plummeted<\/a> on Monday in response to &ldquo;Bidenomics&rdquo; &mdash; which, to be clear, is a part of Harris&rsquo; legacy, just as much as it is Biden&rsquo;s. In fact, the market crashed only six days after Biden bragged about having &ldquo;cured the economy.&rdquo;<\/p>\n<p>Specifically, investors responded to a <a href=\"https:\/\/www.westernjournal.com\/ap-number-americans-filing-jobless-claims-hits-highest-level-year\/\" target=\"_blank\" rel=\"noopener\">terrible July jobs report<\/a> that could signal a <a href=\"https:\/\/www.westernjournal.com\/triggered-economist-created-recession-indicator-sounds-alarm-dismal-jobs-report\/\" target=\"_blank\" rel=\"noopener\">recession<\/a>.<\/p>\n<p>Meanwhile, in a chutzpah-filled <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/08\/05\/statement-from-president-joe-biden-on-gene-sperling\/\" target=\"_blank\" rel=\"noopener\">statement<\/a> on Monday, Biden showered Sperling with unwarranted praise.<\/p>\n<p>  <script> \t\t\t\tif( ! getCookie( 'ff_subbed' ) ) if( typeof FFADS.replace_ict !='undefined' ) if( FFADS.replace_ict ) eval( FFADS.replace_ict ); \t\t\t<\/script> <\/p>\n<p>&ldquo;Gene joined my administration as the only person to have ever directed the National Economic Council under two presidents, and has helped me execute a rescue plan that has led to one of the most equitable and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-biden-aide-heads-to-harris-campaign-washington-examiner\/\" title=\"Top Biden aide heads to Harris campaign- Washington Examiner\">resilient economic recoveries<\/a> ever,&rdquo; Biden wrote.<\/p>\n<p>(Sperling served under Biden and former President Barack Obama.)<\/p>\n<p>If by &ldquo;equitable and resilient&rdquo; the president meant &ldquo;<a href=\"https:\/\/www.westernjournal.com\/biden-killing-economy-inflation-remains-high-consumer-spending-weakens\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a>-riddled and <a href=\"https:\/\/www.westernjournal.com\/property-bubble-house-price-per-square-foot-skyrockets-outpacing-inflation-report\/\" target=\"_blank\" rel=\"noopener\">American Dream-killing<\/a>,&rdquo; then he had it right.<\/p>\n<p>&ldquo;I also looked to Gene as a trusted advisor on the economy and gave him some of the toughest assignments,&rdquo; Biden added.<\/p>\n<p>In other words, the president identified Sperling as a central figure in the administration&rsquo;s entire economic policy.<\/p>\n<p>Thus, the stench of &ldquo;<a href=\"https:\/\/www.westernjournal.com\/doom-spending-bidenomics-blame-americas-crippling-spending-obsession\/\" target=\"_blank\" rel=\"noopener\">Bidenomics<\/a>&rdquo; attaches to Sperling, who will carry it with him to Harris&rsquo; campaign.<\/p>\n<p>In fact, according to the AP, Sperling &ldquo;frequently consulted&rdquo; with Harris as an adviser during President Barack Obama&rsquo;s administration.<\/p>\n<p>The timing of the announcement provided ample fodder for administration critics and supporters of former President Donald Trump on the social media platform X.<\/p>\n<p>&ldquo;Great timing bud,&rdquo; Students 4 Trump Chair Ryan Fournier tweeted, alluding to the ongoing stock market calamity.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING: Biden&rsquo;s top economic advisor, Gene Sperling announced he is leaving the WH today.<\/p>\n<p>Great timing bud. &#129318;&#127995;&zwj;&#9794;&#65039;<\/p>\n<p>&mdash; Ryan Fournier (@RyanAFournier) <a href=\"https:\/\/twitter.com\/RyanAFournier\/status\/1820456273374023860?\">August 5, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&ldquo;All the rats are bailing off the sinking ship now that they&rsquo;ve turned everything to [s***],&rdquo; conservative commentator and former Assistant Secretary of the Treasury Monica Crowley <a href=\"https:\/\/x.com\/MonicaCrowley\/status\/1820490474148524398\" target=\"_blank\" rel=\"noopener\">wrote<\/a>.<\/p>\n<p>As of Monday afternoon, the hashtag &ldquo;#KamalaCrash&rdquo; was trending on X.<\/p>\n<p>Best of all, the seriousness of the situation should finally focus voters&rsquo; attention where it matters.<\/p>\n<p>For instance, conservative commentator Charlie Kirk posted a screenshot of a Fox News graphic showing polling data that gave Trump massive advantages on the economy in the <a href=\"https:\/\/www.westernjournal.com\/swing-state-voters-not-happy-kamala-harris-takeover-think-idiot\/\" target=\"_blank\" rel=\"noopener\">swing states<\/a> of Michigan (+31), Pennsylvania (+31) and Wisconsin (+38)<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">These numbers might get even better for Trump <a href=\"https:\/\/t.co\/YXgbHfULLk\">pic.twitter.com\/YXgbHfULLk<\/a><\/p>\n<p>&mdash; Charlie Kirk (@charliekirk11) <a href=\"https:\/\/twitter.com\/charliekirk11\/status\/1820498792950681657?\">August 5, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In other words, if a recession ensues, then <a href=\"https:\/\/www.westernjournal.com\/rasmussen-poll-numbers-kamalas-bounce-didnt-faze-trump\/\" target=\"_blank\" rel=\"noopener\">Harris<\/a> cannot win on what will surely be the election&rsquo;s main issue.<\/p>\n<p>Nor will the timing of Sperling&rsquo;s move work to her advantage.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ]; 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( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script>  <\/div>\n<p>   <script>console.log(\"ad slot (BA1)\")<\/script> <\/p>\n<div class=\"ff-fancy-header-container\">  <\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<div class=\"insticator-ads additional\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The timing of this announcement serves as a reminder of the pervasive sense of failure within the Biden administration. As reported by The Associated Press, Gene Sperling, a senior adviser at the White House, is set to depart his role to become a senior economic adviser for Vice President Kamala Harris, who is expected to be the Democratic nominee for president in 2024. This news coincided with a significant drop in the U.S. stock market on Monday, attributed to &#8220;Bidenomics,&#8221; which is equally part of Harris&#8217;s legacy as it is Biden&#8217;s. Notably, this market downturn occurred just six days after Biden claimed he had &#8220;cured the economy.&#8221; Investors reacted negatively to a disappointing jobs report from July that may indicate an impending recession. Meanwhile, in an audacious statement on Monday, Biden lavished praise on Sperling despite these circumstances.<\/p>\n<p>Biden remarked that Sperling was unique in having directed the National Economic Council under two presidents and credited him with helping implement a rescue plan leading to what he described as one of the most equitable and resilient economic recoveries ever (Sperling served under both Biden and former President Barack Obama). If by \u201cequitable and resilient\u201d he meant \u201cinflation-ridden and detrimental to the American Dream,\u201d then his assessment would be accurate. He also noted that he relied on Sperling as a trusted economic advisor for some challenging tasks.<\/p>\n<p>This indicates that Sperling played a crucial role in shaping the administration\u2019s economic policies; thus, any negative perceptions associated with &#8220;Bidenomics&#8221; will follow him into Harris&#8217;s campaign. According to AP reports, Sperling often advised Harris during Obama&#8217;s presidency.<\/p>\n<p>The announcement&#8217;s timing has provided ample material for critics of the administration and supporters of former President Donald Trump on social media platform X. Ryan Fournier from Students 4 Trump tweeted about how poorly timed this was given current stock market issues: \u201cGreat timing bud.\u201d Conservative commentator Monica Crowley remarked that those involved are abandoning ship now that things have deteriorated significantly.<\/p>\n<p>As discussions intensified online with hashtags like &#8220;#KamalaCrash&#8221; trending by Monday afternoon, conservative commentator Charlie Kirk shared polling data indicating Trump&#8217;s substantial lead over Biden regarding economic issues in key swing states like Michigan (+31), Pennsylvania (+31), and Wisconsin (+38). These figures could further improve for Trump if an actual recession occurs since it would likely become central to voters&#8217; concerns\u2014putting Harris at a disadvantage given her association with Sperling\u2019s departure at such an inconvenient time<\/p>\n","protected":false},"author":1,"featured_media":2319603,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/08\/khar.jpg","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[3620,4087,34697,32438,35133],"class_list":["post-2319602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-biden","tag-campaign","tag-economic-adviser","tag-kamala-harris","tag-stock-market"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/08\/khar.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2319602","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2319602"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2319602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2319603"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2319602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2319602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2319602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}