No Shame! Joe Biden Partying as The American Stock Market Crashes

On Tuesday, President Joe Biden hosted a party at the White House, strengthening his reputation as an American hero as the economy of the United States continues to collapse under the weight of the administration’s fiscal irresponsibility. 

James Taylor sang “Fire and Rain” on the White House grounds as Wall Street panic sank the stock market to “praise” the Democrats’ massive $740 billion “Inflation Reduction Act” before the package accelerated inflation.

Biden’s White House event celebrating the “Inflation Reduction Act” is beginning with a performance by James Taylor of “Fire and Rain” pic.twitter.com/CeVECkldOR

— Greg Price (@greg_price11) September 13, 2022

The stock market crashed on Tuesday after the Labor Department released data showing inflation was still near its highest level in over four decades. In August, consumer prices were up 8.3 percent over August 2017. The Dow Jones sank roughly 1,300 points, or 4 percent, by Tuesday afternoon, whereas the S&P 500 fell 4.3% and the Nasdaq fell 5.2%. 

Months of relentless inflation angered American consumers before Tuesday’s record inflation data, and now they must deal with rising prices at the gas pump and the grocery store. In comparison to the same month a year ago, the cost of both food and energy has increased by over 11 percent, per the Labor Department. While gas prices have declined in recent months, Americans are spending $1.28 extra per gallon on average than they did before Biden came into office. 

The 8.3 percent surge in the overall consumer price index fell from 8.5 percent in July and 9.1 percent in June but remained at an unsustainable rate that’s a cause of alarm for both Wall Street and consumers. 

According to figures from the Federal Reserve on Friday, American families lost $6 trillion during the past three months as hyperinflation fueled by government expenditure causes stress on home budgets. 

But the collapsing status of the U.S. economy, which has now suffered two consecutive quarters of economic contraction, didn’t stop President Biden from having a White House celebration complete with turnout from Democratic elite and thousands of admirers. 

“While MAGA Republicans are concentrated on their extremist agenda like a nationwide abortion ban, Democrats are focused on creating jobs, decreasing costs, and bringing the country together,” said Senate Majority Leader Chuck Schumer. The comment on abortion was an apparent swipe at South Carolina Republican Sen. Lindsey Graham, who Tuesday advocated a ban on the fatal operation after 15 weeks of pregnancy with exceptions for rape, incest, and risks to the mother’s life. Democrats are rejecting the legislation that would put U.S. abortion policy in line with practically every European nation the party so openly admires. Notwithstanding survey after survey showing Americans strongly reject permitting on-demand abortion at any time of pregnancy, Democrats continue to pretend they hold the moral high ground on the subject. 

Conversely, with only two months until the midterm elections in November, Biden has changed his focus from White House parties to the vilification and downright prosecution of political adversaries. The president opened the election cycle with a speech at Independence Hall, where he denounced half the country as a “threat to the very soul of America” in front of a blood-red backdrop and surrounded by Marines. After FBI agents raided Trump’s Florida mansion, Biden‘s Justice Department issued more than 3 dozen summons to people with ties to either the former president or his 2020 candidacy.