Photo by Gage Skidmore

A key metric that measures the health of the economy massively underperformed most analysts’ expectations on Thursday, underlying the fact that the Biden economy is not doing nearly as well as its Democrat boosters claim.

As The Daily Wire reports:

The American economy missed second-quarter GDP growth projections by a significant margin.

According to data released by the Department of Commerce on Thursday, the annualized GDP growth rate rose to 6.5% between April and June of this year. Although improving from 6.3% in the first quarter of 2021, the metric fell short of the 8.4% Dow Jones estimate.

Although consumer spending was a primary driver of economic growth, real disposable personal income — personal income adjusted for inflation and taxes — fell by 30.6% in the second quarter after a 57.6% increase in the first quarter.

A similar report from the Bureau of Labor Statistics revealed that average hourly earnings in the United States increased from $29.35 in June 2020 to $30.40 in June 2021 — a 3.6% increase. When factoring in inflation through the Consumer Price Index, which has risen by 5.3% since June 2020, real average hourly earnings have fallen by 1.7% over the past year — despite the robust economic recovery from COVID-19 and the lockdown-induced recession.

If these are the numbers being produced at the height of the summer reopening, what will things look like when the winter arrives?


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graceythecat
graceythecat
1 month ago

Dementia jo’s economic growth index is higher than his IQ, and he is delighted while he craps his pants and drools on little girls hair!

Alfie
Alfie
1 month ago

Biden is a CATHOLIC TRAITOR…. R and D mean nothing… Catholic is socialism. ALL CATHOLICS are socialists. Failure of a hundred nations, a thousand years of exactly 100% failure. Vote for ANY Catholic and you vote for a true history of perfect failure. Oh yeah, Biden, Pelosi, Cuomo are all CATHOLIC along with a third of all elected.
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Joe Biden VERBATIM – “We have put together, I think, the most extensive and inclusive voter fraud organization in the history of American politics”.
Have you ever heard of a CATHOLIC nation that is not corrupt? Have you ever heard of anything CATHOLIC that was not corrupt? Mafia, MS-13, Costa nostra, and the list goes on.

Pasogal
Pasogal
1 month ago
Reply to  Alfie

You seem to have a real problem, Alfie!

yestremski
yestremski
1 month ago

Biden and the Dems have and would screw up a wet dream. Instead of keeping the country on the straight course President Trump had the country on they had to blow it all up. They truly don’t care about the American people