In a powerful speech delivered in Rapid City, South Dakota, former President Donald Trump didn’t mince words when he criticized President Joe Biden’s economic policies, dubbing them “Bidenomics.” Trump, known for his candid remarks, painted a bleak picture of the current state of the nation, warning that it could lead to a catastrophe reminiscent of the Great Depression.
According to prepared remarks obtained by Breitbart News, Trump stated, “If you took the five worst presidents in the history of the United States and added them up, they would not have done near the destruction to our country as Joe Biden and the Biden administration have done in a few short years. And no damage has been worse than the disaster known as Bidenomics.”
Former President Donald Trump called out President Joe Biden’s “Bidenomics” for leading the country into another “Great Depression.” https://t.co/Oc7fdWqqLE
— Breitbart News (@BreitbartNews) September 9, 2023
Trump didn’t hold back as he listed several key failures he attributes to Biden’s economic agenda:
**Inflation Crisis:** Since Joe Biden took office, cumulative inflation has skyrocketed, reaching nearly 20 percent. The dollar, too, has taken a significant hit, losing over 20 percent of its value in just three years.
**Wasteful Spending:** Joe Biden’s administration has spent a staggering $11.5 trillion, which Trump likened to an $88,000 burden on every American family.
**Budget Deficit Soars:** Under Biden’s leadership, the budget deficit has exploded, poised to more than double in just a single year.
**Manufacturing Downturn:** The manufacturing sector has been on a steady decline, contracting for ten consecutive months. Monthly job reports have consistently been revised downward throughout 2023.
Trump contrasted Biden’s record with his own, stating, “During Biden’s first 30 months in office, just 2.1 million new jobs have been created nationwide. By contrast, during the first 30 months of President Trump, we created 4.9 million new jobs, shattering all predictions.”
He also highlighted the significant decline in real incomes under Biden, revealing that families have seen their incomes decrease by a substantial $7,400 per year. In contrast, during his presidency, yearly income increased by more than $6,000.
Concluding his address, Trump issued a dire warning, saying, “We’re heading into a great depression. The only question is whether or not it will be during the remaining months of the Biden administration … or will the next president have to bear the brunt of what Biden has done to our country? I don’t want to be the next Herbert Hoover — and I won’t let that happen.”
In the face of these economic challenges, the nation finds itself at a crossroads. President Biden and his administration must navigate these troubled waters, while the American people anxiously await the outcome, hoping for a brighter economic future.