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In 1992, Democratic presidential nominee Bill Clinton famously answered a voter question about how the national debt affected him personally. Mr. Clinton’s response was often paraphrased as, “I feel your pain.” Whether Mr. Clinton was for once being sincere or not, his words resonated. Now President Biden is running for re-election with the opposite message: Stop complaining. Everything is going great. Some of his sycophants in Congress and his stooges in the press are now complaining that the problem isn’t Mr. Biden’s failed policies, it’s that Americans are just too stupid to understand how good things are today. Gail Collins...

We are in an election year. President Biden, a seasoned politician, has failed miserably in tackling inflation and is now attempting to shift blame for "Bidenflation" onto Trump, a move even noted by The New York Times, which dubbed it Biden's Plan B. Commenting on the latest CPI release, President Biden said: We’re better situated than we were when we took office where we— inflation was skyrocketing. And we have a plan to deal with it, whereas the opposition — my opposition talks about two things. They just want to cut taxes for the wealthy and raise taxes on other...

On Friday’s broadcast of MSNBC’s “The Last Word,” Rep. Robert Garcia (D-CA) said that because we’ve lumped immigration in with border security, we can’t think of immigration as an economic necessity because it’s viewed as a security issue. Host Ali Velshi said, “Congressman, I’m always — I’m concerned about, in this country, we have, accidentally or otherwise, decided to treat immigration as a security threat, as opposed to an economic matter. We’ve done this — immigration falls under the Department of Homeland Security, which I’ve always thought, I understand why it was done after 9/11, but it feels like it...

The Merriam-Webster dictionary defines the term “bloodbath” as a “major economic disaster,” a characterization used by former President Donald Trump to describe what he believes will happen to America’s auto industry without fierce tariffs on China. During a speech in Ohio last weekend, Trump said: Let me tell you something to China, if you’re listening President Xi — and you and I are friends but he understands the way I deal — those big, monster car manufacturing plants that you’re building in Mexico right now, and you think you’re going to get that and you’re going to not hire Americans...

The foundations of economic freedom have been declining around the world for three consecutive years, according to the 2024 Index of Economic Freedom, which annually assesses the economic governance and entrepreneurial environments of 184 countries. Despite the disappointing downward trend of global economic freedom, the overall findings of the 2024 index, released Monday by The Heritage Foundation, are unmistakable: Preserving and further enhancing the institutions of economic freedom is the key to economic empowerment and societal flourishing. (The Daily Signal is the news outlet of The Heritage Foundation.) In its 30th anniversary edition, the 2024 index provides a unique opportunity...

Medicare and Social Security are in crisis and face significant challenges according a report from the U.S. Treasury Department which indicates the programs are both underfunded to the tune of a $175 trillion. The report suggests that if the current trends continue the programs may not be around when the current generation of American children reach retirement age unless substantial changes are implemented. Projections suggest that Medicare and Social Security may struggle to meet full benefit obligations within the next decade, with factors like inflation and economic output adding strain due to insufficient funds coming in to support these programs....

The Biden White House is scrapping a decades-old rule that bars administration officials from commenting on economic data for one hour after their release, a notice in the Federal Register indicated Wednesday. Faced with polls showing that the public strongly disapproves of President Joe Biden’s management of economic issues, the White House is changing the rules to give them a new advantage when it comes to spinning economic data in a more favorable light. Instead of the one-hour waiting period that has been in place since the Reagan years, administration officials will be able to weigh in on important economic...

Musk says illegal immigration crisis is contributing to lack of affordable housing in US ... Elon Musk weighed in on the economic impacts of illegal immigration in a series of posts on social media as he criticized the Biden administration’s handling of the border crisis. ... that illegal immigrants have access to in the U.S. and argue they’re contributing to the housing affordability crisis. "A few other things you probably don’t know: illegals in America can get bank loans, mortgages, insurance, driver’s licenses, free healthcare (California & New York) and in-state college tuition," Musk wrote. "What’s the point of being...

President Biden’s reelection campaign thanked former President Trump on Monday for “lifting up” strong news on the economy after Trump claimed credit for the record-high stock market. Ammar Moussa, spokesperson for Biden’s campaign, criticized Trump’s comments from earlier Monday and reminded him that Biden is in the White House, in a statement first shared with The Hill. “Thank you Donald for lifting up today’s strong economic news, but on this planet, Joe Biden is the president, and is the one whose policies are helping achieve historic GDP growth, a stronger than ever stock market, and real job creation after Trump...

President Joe Biden will campaign against President Donald Trump’s economic policies in the 2024 cycle after ditching the so-called “Bidenomics” catchphrase due to its “ineffective” and “tone-deaf” nature. Biden’s plan to campaign on Trump’s economic policies is a recognition that Biden’s economy is a losing line of attack for his reelection campaign. “What we want the fight to be about is their record, and who you’re for and what you care about,” a person familiar with the internal messaging discussions told Politico on Monday. “The polling shows overwhelmingly that people think Biden cares about people like them and Trump does...

As 2024 unfolds, ominous signs loom over the economic horizon, with the Druckenmiller Recession Indicator delivering a stark warning. Plummeting to its lowest level since 1999, this indicator, historically associated with economic downturns, is flashing red, raising concerns about the state of the economy. Leading economic indicators have endured a daunting streak, falling for 20 consecutive months. While many have clung to the belief in a recession-proof economy, the latest ISM data paints a different picture. A mere 5.6% of purchasing managers report any growth, mirroring statistics not seen since April 2009.

When Gross Domestic Income (GDI) and Gross Domestic Product (GDP) part ways, it’s a red flag. Contrary to popular belief, Fed rate drops often precede stock plunges, signaling economic slowdown. A staggering 96% of Americans worry about the economy, per Intuit Credit Karma. Unprecedentedly, less than 10% of companies boast strong Altman Z-scores, reflecting a concerning financial landscape. November’s Commercial Chapter 11 bankruptcies spiked 141% YoY to 842, per Epiq Bankruptcy. The 30-day z-score on the $spx indicates a bearish trend.

As ominous indicators mount, a disconnect persists as many believe the economy is thriving. The collapsing yield curve, paralleled by the decline in oil prices, is underscored by emergency bank REPO interventions. Despite these red flags, some remain oblivious to the economic downturn. Hedge funds’ consistent sale of US equities for the third consecutive week aligns with fading inflation expectations for the S&P 500, signaling potential challenges in earnings and sales estimates. A discernible shift to a risk-off mood is evident, further accentuated by extreme semiconductor inventory levels, poised for potential destocking, which could exert downward pressure on demand and...

President Biden’s job approval rating ticked down again in the latest CNN poll, dropping to 37 percent, a signal that the president’s favor is further eroding as he campaigns for another term in 2024. Biden boasted approval figures in the 50s at the start of his term, and still had 45 percent at the beginning of this year, according to the CNN polling. The latest figure is down two points from 39 percent at beginning of the month.

White House economic adviser Jared Bernstein said on this week’s “Fox News Sunday” broadcast that the U.S. economy was “moving on the right track.” Partial transcript as follows: BERNSTEIN: Well, I want to try to paint a realistic picture that’s nuanced, that takes into account everything you just said. But also reflects not just what on people — what people are saying, which we have to listen to, they are the best arbiters of their economic conditions, but also what they’re doing. So we’re just coming out of a Black Friday, that is already setting records for online buying between...

On Monday’s broadcast of CNN’s “Inside Politics,” Transportation Secretary Pete Buttigieg responded to a question on President Joe Biden’s poor poll numbers on the economy by stating that everything isn’t perfect, and “Americans have had a rough few years, especially when you think about COVID and what that did to our society and effects that we are still working through. You think about some of the political polarization that’s going on. We’re not out there saying that all of the work is done. We’re out there pointing to the good work that we’re doing.” Buttigieg said, “Well, a big part...

President Joe Biden championed his economic agenda on Thursday, vowing to “double down” on “progress.” Biden’s promise to “double down” on his economic agenda appears indifferent to the economic challenges Americans face, such as inflation and soaring housing costs. Recent polling shows Americans are unpleased with Joe Biden’s economy: Only 14 percent of voters believe they are better off with Biden as commander-in-chief. Seventy percent of voters say Biden’s economic policies have either hurt the economy or have had no impact. Among the 70 percent, 33 percent say the president’s policies have hurt the economy a lot.

On Thursday’s broadcast of CNN’s “OutFront,” CNN Senior Political Data Reporter Harry Enten said that inflation and population-adjusted disposable personal income has declined over the past quarter and since the first year of the Biden administration and “there is this disconnect. But I don’t think there’s this disconnect between Americans and what’s actually going on. I think there might be this disconnect between what President Biden thinks is going on and what is actually going on.” Host Erin Burnett began the segment by saying that President Biden admitted that “Americans are not feeling the positive effects of an economy that...

The nation will be pushed toward “social and economic turmoil,” if a reelected President Donald Trump tries to enforce Congress’s border laws, the New York Times claimed on November 11. “Sweeping Raids, Giant Camps and Mass Deportations: Inside Trump’s 2025 Immigration Plans,” declared the headline for an article about President Donald Trump’s campaign promises to enforce border policies if he is elected.

President Ronald Reagan rode a “Morning in America” message to a blowout re-election victory in 1984, based partly on warm feelings about his economic performance. Today’s economy is similar in many ways to Mr. Reagan’s as he entered that campaign, with one big difference: There is widespread voter angst over the incumbent’s economic stewardship. A New York Times/Siena College poll shows President Biden trailing his likely Republican opponent, former President Donald J. Trump, in key battleground states. Poll respondents rate the economy poorly and say they trust Mr. Trump more to fix it. That’s true even though the economy grew...