Almost two months have passed since President Joe Biden signed the so-called Inflation Reduction Act into law. Nevertheless, inflation continues to rise and economists are increasingly worried the United States could enter a recession—if we haven't already.
Biden promised the American people this wouldn't happen. Last year, for example, he insisted that "nobody's suggesting there's unchecked inflation on the way" and boasted that "the stock market is higher than it has been in all of history." Since then, the stock market has fallen significantly while inflation has entered "unchecked" territory. It's easy to see why nearly 8 in 10 Americans say the economy is in bad shape.
The 79-year-old president appears to be losing touch with reality. On Wednesday he falsely claimed his son Beau "lost his life in Iraq." Meanwhile, his assessment of the economy continues to be undermined by the facts.