Michael Ramirez Essay: Amidst The Rubble 10-29-23
From America's Premier Editorial Cartoonist
The Biden administration takes a victory lap over third quarter GDP numbers while everything else is collapsing around them.—Michael
TAKING A VICTORY LAP THROUGH THE RUBBLE
by Michael P. Ramirez, October 29, 2023
The White House celebrated an unexpected red-hot 4.9% GDP growth rate in the third quarter. That’s a 2.8% increase from the second quarter. President Biden characterized it as proof that Bidenomics is working.
In a statement released on Thursday, Biden said:
“I always say it is a mistake to bet against the American people, and just today we learned the economy grew 4.9% in the third quarter. I never believed we would need a recession to bring inflation down – and today we saw again that the American economy continues to grow even as inflation has come down.”
Increased consumer spending contributed to this unanticipated explosive growth. The Bureau of Labor Statistics also credited exports, increased inventories, and rising federal and state government spending.
While the administration was taking its victory lap, the public wasn’t buying it… (continued below)
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