(NewsGlobal.com)- The United States economy has been struggling, as inflation has hit new records, gas prices and consumer goods have spiraled out of control, and the economy as a whole officially went into a recession after two consecutive periods of negative growth, but the Biden White House released a report of the president’s economic achievements ahead of the November midterm elections, according to the Daily Wire.
The 58-page “Biden-Harris Economic Blueprint” comes after the economy has been in clear decline the last two years. The economy shrank at a 1.6% annualized rate in the first quarter and .6% in the second. The document ignores these and touts the president’s economic legislative victories as responsible for a recovery, according to the outlet.
The report claimed what is easily claimed by many other administrations, such as having the strongest economy and labor market in American modern history.
“President Biden’s agenda has contributed to the strongest and most equitable economic and labor market recovery in modern history, and catalyzed a resurgence in public investment that will help ensure a strong, innovative, clean energy future that is made in America,” the report states. “Together with generational investments in infrastructure, clean energy, and advanced manufacturing, the Biden economic agenda has coupled historic job creation with a long-term strategy to ensure that good jobs of today and tomorrow are created in America.”
The report also claims that the Biden administration is responsible for strengthening the labor market, despite reports that indicate that the $1.9 trillion American Rescue Plan worsened labor shortages.
Of course, the report would not be complete without shifting blame on inflation and gas prices onto Russia and the war in Ukraine. What the report does not mention is that gas prices started to increase since before the war in Ukraine commenced. The average price of gas was $2.38 per gallon and $3.53 per gallon at the start of the war.
Americans’ personal savings rate is also below what it has been in the past decade from 7% to 5%, according to the Bureau of Economic Analysis.