Shanghai Joe fits as a nickname for the “president” who sold America to China.
If Trump were president, Democrats would impeach him for our latest trade deficit numbers.
As reported by the Wall Street Journal,
Inflation, supply imbalances and strong demand for imported goods widened the U.S. trade deficit to a record in March, with clothing, computers, and vehicles driving the surge.
The trade gap in goods and services widened by 22.3% in March from the prior month to a seasonally adjusted $109.8 billion, the Commerce Department said Wednesday. Before the Covid-19 pandemic, the trade deficit had hovered for years between $40 billion and $50 billion a month.
Holy Mother of Chiang Kai-shek, at least we know why we have supply chain issues!
What a backlog. At least double the norm, and almost triple. Let’s see how Democrats spin this, given that America suffered no such deficits under…ANY OTHER PRESIDENT!
What happened to “Buy American” Joe? Anybody remember this Executive Order?
How did we get here, given Biden’s big announcement?
Biden announced on Jan 25, 2021 his executive order requiring companies to make more of their components in America and ensure the value of those components contribute to the value of the U.S. economy. And based on the results, Biden was as successful at “Buy American” as he was at curing cancer.
By now, even the most ardent Leftists knows that Biden is completely full of sh*t. How do you more than double America’s trade deficit in good conscience? This clown made America more dependent on other countries, not less.
And let’s not forget Biden begging OPEC and other countries to produce more oil. Moreover, he begged for oil despite Trump handing him a foreign-oil-independent nation.
I doubt you’re surprised. After all, Biden recently claimed that Trump handed him the next Great Depression.
The Leftist-created Wuflu-recession ended in April 2020. This date precedes Biden’s faux administration by nine months. So much for the “deep recession”.
The Covid-19 recession ended in April 2020, the National Bureau of Economic Research said Monday.
Biden inherited a rapidly recovering economy and this was occurring before the vaccines and rollout which Biden also inherited.
Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020 (table 1), according to the “second” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4 percent.
The reason the recession duration broke records for the shortest period showcases just how strong the Trump economy performed leading into the scamdemic.
Further, in February 2021 and before Biden’s policies took effect, the CBO projected rapid economic growth for 2021 and beyond:
Over the course of the coming year, vaccination is expected to greatly reduce the number of new cases of COVID-19, the disease caused by the coronavirus. As a result, the extent of social distancing is expected to decline. In its new economic forecast, which covers the period from 2021 to 2031, the Congressional Budget Office therefore projects that the economic expansion that began in mid-2020 will continue. Specifically, real (inflation-adjusted) gross domestic product (GDP) is projected to return to its prepandemic level in mid-2021 and to surpass its potential (that is, its maximum sustainable) level in early 2025. In CBO’s projections, the unemployment rate gradually declines through 2026, and the number of people employed returns to its prepandemic level in 2024.
Clearly, Biden’s first year economy relied on the muscle-memory of Trump’s twice-built stellar economy. Now, we keep hearing “build back better,” but all we get is breaking, broke, and broken. Meanwhile, China gets to rule the world, with Joe Biden’s help.