Editorial: Red states are powering Biden’s economy – By Editorial Board (Boston Herald) / July 29, 2023.
The economy President Joe Biden likes to brag about is powered by Republican states.
Economic warning signs abound. Inflation is cooling off, but it remains elevated. Our massive national debt means inflation won’t retreat permanently into the night either. Credit card debt has hit a record, nearing $1 trillion. Banks are tightening lending standards, which is likely to put a damper on future economic growth.
The inversion between the yields of two- and 10-year treasuries reached a four-decade high this month. That’s perhaps the most accurate historical indicator that a recession is coming within the next two years.
But running for re-election demands economic happy talk. After all, “Vote for me, I wrecked the economy” won’t win much support. So Biden is left looking for data points to convince you things are humming along.
CONTINUE > https://www.bostonherald.com/2023/07/29/editorial-red-states-are-powering-bidens-economy/
