It was only a few days ago when Joe Biden stood up in front of the entire country and told us all how wonderful the economy was doing.
Like most other things that come out of Joe’s mouth, it was a lie.
While economists expected to see a 1.1 percent expansion of the economy, it shrank by 1.4 percent.
Of course, the administration is already spinning and giving off reasons why this is not Joe’s fault.
Crashing and Burning
Joe’s recovering economy is actually the worst we have seen since the early days of the pandemic when the entire country was shut down.
There simply is no excuse for this other than this administration’s disastrous policies, but that is not how the White House is spinning it.
When asked about the economic dip, White House Press Secretary Jen Psaki dropped the new theme of why this is happening.
In part, she stated, “And looking under the hood, the slowdown relative to quarter 4 is mainly for technical reasons, like the change in inventory.
“So last quarter, companies built up their inventories very quickly, and growth in inventories are expected to be slower, though still positive, this quarter.”
Notice the use of the word “technical” there, which is their way of saying, “you commoners would not understand this.”
On Thursday, Joe Biden made a similar statement, saying, “While last quarter’s growth estimate was affected by technical factors, the United States confronts the challenges of COVID-19 around the world, Putin’s unprovoked invasion of Ukraine, and global inflation from a position of strength.”
Technically, we think you and everyone in your administration are full of sh**, Joe.