(DailyVantage.com) – Last weekend, former Speaker Nancy Pelosi praised President Biden’s economic plan but admitted that the president must do a better job explaining his economic success to the American people.
During CNN’s State of the Union on Sunday, host Dana Bash listed what she claimed were the positive economic accomplishments of the Biden administration and asked Pelosi why Biden’s successes are not reflected in polling.
Pelosi gushed about how proud she is of the president, claiming that in his first two years, “he broke all records.” Pelosi said the legislation passed in the first two years was on par with that of LBJ and FDR.
Pelosi said that the problem isn’t the president’s record on the economy. The problem is the administration’s “messaging.” She said the administration has to do a better job getting the message out for Americans to see what Biden has done for them.
Ever the campaigner, Pelosi said Biden has done “such a remarkable job,” describing him as a person with a “vision for the country” who is knowledgeable about the issues and possesses “such strategic thinking.”
But most importantly, Pelosi added, the president “connects with the American people.”
Pelosi added that Biden “has to get out there” to tell the American people about his economic success. Conceding that being president is “a busy job,” Pelosi said the president has to “make sure” that the American people know “at the kitchen table” what his economic successes, including reducing inflation, mean to them.
But Pelosi’s praise doesn’t match the facts on the ground.
On Wednesday, the Federal Reserve announced that it once again raised its key interest rate by 0.25 percent, bringing it to its highest level in 22 years, NBC News reported.
While consumer prices had been declining for 12 months, in June consumer prices jumped by 3 percent over the previous year, prompting the Fed to raise its rate in the hope that by making borrowing and investing more expensive, overall demand for goods, services, and labor would be reduced, cooling inflation.
However, another rate increase runs the risk of putting the economy on track for a recession.
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