The establishment media on Friday acknowledged that President Joe Biden’s positive spin on the economy is failing.
Five days after Biden officially launched a public relations effort to convince Americans the struggling economy is strong, the establishment media have admitted “the administration has had a very difficult time getting a clear economic message to Americans pinched by higher prices and uncertain about future prospects.”
In an article titled, “Biden’s new challenge: Putting a positive spin on a slowing economy,” Politico noted Biden is “trying to pull off a very difficult messaging pivot: Warn people the economy is about to slow down and convince them that it’s a good thing.”
On May 10, Biden spoke about 40-year-high inflation and claimed the nation had made enormous economic strides. “As I go across the country, our economy has gone from being on the mend to on the move,” Biden said. “This will not be my only speech on inflation, I’m sure. But when you look at the economy today, it’s clear that we’ve made enormous strides.”
Gas prices for regular unleaded gasoline, at four dollars and ninety nine cents, are expected to be priced higher than five dollars a gallon this week, May 16, 2022, in Brooklyn, New York. (Andrew Lichtenstein/Corbis via Getty Images)
According to Bloomberg, inflation will cost American households on average an extra $5,200 in 2022, or $433 per month. Inflation will also delay 25 percent of Americans from retiring, the BMO Real Financial Progress Index survey revealed.
Biden’s positive spin on inflation has not impressed the establishment media. On Friday, CNN published the title, “3 signs that the US economy is already losing steam.” The article highlighted the May jobs report, the housing market interest rate hike, and slowing growth predictions as indications the economy is slowing under Biden’s watch.
“Fears about whether America could fall into a recession are dominating conversations among investors and pose a risk to the Biden administration ahead of midterm elections this fall,” CNN analyzed.
The establishment media has also noticed that Biden’s public relations campaign actually admits the economy is headed in the wrong direction.
On Thursday, the Washington Post published an article titled, “Biden is finally getting honest about inflation.” The Post noted Biden’s public relations campaign has made blunders, such as admitting the Fed and White House were wrong to call inflation transitory. “It’s not every day that politicians admit they made a mistake,” the article said.
The Post also acknowledged that Biden’s “$1.9 trillion rescue package in March 2021 was too large” because it fueled inflation. “He can’t correct that now,” the article continued about 40-year-high inflation, “but he needs to make good choices” moving forward.
On Wednesday, JPMorgan Chase CEO Jamie Dimon predicted poor economic times are ahead. “The hurricane is right out there down the road coming our way,” he said. “We just don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself.”