ANTONI: America Declines As The Elites Remain In Denial

Make no mistake, America is in a recession. The latest data from the Department of Commerce confirms that the economic decline under President Joe Biden is not merely a blip, but a recession, now that the economy has contracted for the second quarter in a row. For the common man, however, this is not news at all; it has been blatantly obvious for months.

If the president’s handlers were smart, they would have had Biden do a mea culpa and announce a change in policy. But instead of acknowledging the current economic reality and the plight of the common man, they issued a statement cherry-picking a single datum point: personal consumption. (RELATED: SHEFFIELD: Democrats’ Rosy Economic Picture Has Become A Nightmare As Recession Finally Hits)

That component of the economy grew a paltry 1% in the second quarter. Yet the Biden administration touted it as a sign of strength and ignored the fact that the increased consumer spending was fueled by reduced savings and increased debt — an unsustainable mix. Additionally, consumers had to spend 8% more money to get just 1 percent more in goods and services — hardly a win for the average American.

The massive price increases people are experiencing

View Source