News that the U.S. economy grew at a brisk 3.3% annual pace since October wasn’t just good: It was great in a lot of ways.
On average, the economy grew a robust 2.5% in 2023—a year in which analysts practically tried to speak a recession into reality. No such luck. In fact, from the fourth quarter of 2022 to the fourth quarter of 2023, the economy grew 3.1%.
The combination of increasing consumption, low unemployment, and falling inflation even had a Fox Business reporter gushing over President Joe Biden’s economy.
“It’s a sweet spot,” remarked Fox Business’ Lauren Simonetti, calling consumption “formidable” over the holidays. “We’re seeing an economy that is proving resilient—growing as inflation is moderating. That’s why I’m calling this the sweet spot, right? Enough growth to cool inflation.”
The New York Times’ Paul Krugman likewise dubbed it the “Goldilocks economy,” neither too hot nor too cold. And Krugman predicts the country’s inflationary woes are now over.
In other words, it continues to look as though the Biden administration is overseeing a “soft landing” for the economy—one that supposedly couldn’t be achieved.
Indeed, the University of Michigan’s survey of consumer sentiment surged to a reading of 78.8 in January, its highest level since July 2021 and a 21.4% increase from a year ago, according to CNBC. A big driver of that increase stems from consumers’ agreement with Krugman that inflation “has turned the corner,” as survey director Joanne Hsu put it.
All of this good news is going to drive an already seething Donald Trump absolutely mad—particularly Fox Business analysts swooning over Biden’s economy. The same Fox analyst also promised to scour the report “to see if there are signs that maybe the economy doesn’t feel as, or isn’t as resilient as it might seem.”
Shorter Fox-speak: Stay tuned, Trump. We’ll invent bad news one way or another!
For anyone who hasn’t noticed, Trump is already getting increasingly erratic on his quest to fabricate bad news for Biden:
He’s livid over his Republican rival Nikki Haley refusing to drop out of the GOP primary after New Hampshire.
He’s strong-arming the Republican National Committee into declaring him the nominee after a grand total of two state contests.
He’s asking Senate Republicans to torpedo a potential border deal with the White House so he can spend the rest of year fear-mongering over a supposed “invasion” of immigrants spearheaded by Biden.
He’s pushing House Republicans to impeach Biden so he can rail about Biden’s supposed corruption.
He’s rooting for an economic “crash,” hopefully sometime very soon.
He’s promising “bedlam” in the streets of America if he loses the election (a chaos candidate promising chaos if The People vote against chaos).
And he’s agitating for full immunity from absolutely any action—including murder—he takes as president.
It’s January, folks, and Trump is already coming off the rails despite the fact that he’s basically cruising to the Republican nomination.
It’s a palpable show of desperation sprung from a place of weakness. Trump knows New Hampshire and Iowa both exposed serious cracks in his general election voting coalition. The turnout and makeup of the electorate in both states suggests he isn’t expanding the universe of Republican voters. He’s simply culling the party down to a smaller, harder-right faction of the electorate.
In short, Trump’s not adding, he’s subtracting. And if he’s going to ride that smaller slice of the electorate to victory, he’s going to need to trash the country in every way possible in order to depress turnout for Biden.
That’s all fine by Trump because the main impetus of his every move is the sheer terror of spending his last living years in a jail cell. If he has to single-handedly unravel the country on his quest for freedom, so be it.
Republished with permission from Daily Kos.