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Home » HUGE LOSS: For the Biden Administration as the Dow Index has Dropped 1,400 Points Since Biden Took Office

HUGE LOSS: For the Biden Administration as the Dow Index has Dropped 1,400 Points Since Biden Took Office

The Dow Jones Industrial Average is down by more than 1,400 points thanks to what Joe Biden and his office like to call “the strongest economy of all time.”

At the same time, the Federal Reserve is increasing targets for the federal funds rate by 0.75% leading to the Dow falling by more than 500 points on Wednesday, another 500 points on Friday to 29,400.

This is a historic crisis and a record low for any modern-era administration. With Democrats controlling both chambers of Congress, and the executive branch, the state of the economy is getting worse every day.

Some of the many issues that the Biden administration has brought to the economy include labor shortages, supply chain bottlenecks, the debacle with the Afghanistan withdrawal and the Russian invasion of Ukraine. On top of that, the Democrats’ decision to send billions to Ukraine and passing bills that would allow reckless spending of millions of dollars on “woke” causes, is leading to rising inflation and recession.

To tackle the inflation issue, Biden passed the “Inflation Reduction Act” and announced more funding for causes like “climate change” and “gender theory” which lead the Dow to drop nearly 1,300 points. Biden at the time referred to this spending bill as the “single most important legislation passed in the Congress to combat inflation and one of the most significant laws in our nation’s history.”

Despite the added spending, obvious challenges have been presented like some of the highest prices for food, real estate, medical supplies, energy, gas, and other essentials.

The national average of gas was $2.38 when Joe Biden took office. America was for the first time energy independent, thanks to President Trump’s America First policies, which were reversed as soon as Biden took office through a series of executive orders and led to an increase of $3.53 per gallon on average every month.

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Leading polls predict economic issues will be a big part of voting decisions across the country. If Democrats continue to push for more uncontrollable spending, that impacts inflation, polls suggest a big America-First Republican red wave in the upcoming November elections.

What do you make of the state of our current economy under Joe Biden and Democrats’ leadership? Share your thoughts in our Facebook comments!