Biden’s ‘Accomplishments’ So Far: A Troubling Tale In 8 Charts

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Issues & Insights

Months after President Joe Biden supposedly “rescued” the country from the COVID-19 pandemic and promised that he’d bring the country together, how is the nation doing? Well, there are several indicators on the rise. Unfortunately, they are all indicators of trouble.

The news Thursday that the GDP gained 6.5% in the second quarter (the first full quarter since Biden signed his American Rescue Plan) is good. But it is well below economists’ forecasts. The Blue Chip Consensus forecast was above 9%, and other surveys pegged Q2 growth at 8.5%. It was also just barely above the gain in Q1 — which was before any of Biden’s policies had taken effect.

 

Still, other things are on the rise under Biden, too, many of them well above expectations.

The misery index is up, for example, so is inflation, pessimism, and financial stress. Illegal border crossings are up and murders are way up. Oh, and cases of COVID-19 — the disease Biden said he would slay — are increasing again.

Naturally, while taking credit for the good GDP number, the Biden administration is trying to pin the blame for all these other things on President Donald Trump. But how convincing can that be, when Biden ostentatiously broke with just about every one of Trump’s policies and did so in ways that had an immediate effect?

We’ve put together seven charts that help tell this story, starting with the inflation rate.

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INFLATION ROARS TO FASTEST GAIN IN 20 YEARS, MISERY INDEX UP

KEY POINTS

• An inflation gauge followed closely by the Federal Reserve increased 3.5% year over year in June, slightly below the 3.6% estimate.
• Consumer spending rose 1%, faster than expected as personal income also increased.
• Labor costs rose as well, with compensation rising 2.9% from a year earlier.