Social Media Shines a Spotlight on Joe Biden’s Economic Falsehoods

In the nearly three years of his presidency, Joe Biden has left a trail of known failures and questionable (and often nonsensical) statements.

That legacy continued recently when, not once, but twice in one week, Joe Biden took to 𝕏, formally known as Twitter, to share misinformation and falsehoods about the state of the economy in an apparent attempt to hide his failures.

The first of Biden’s notable claims was a post regarding the ongoing issue of inflation, in which he insinuated that prices are still high despite inflation having “come down” because corporations are artificially keeping costs high.

The problem with this assertion, as was pointed out by Community Notes (the open-source, community-driven, fact-checking service on 𝕏), is that the inflation rate is still positive (despite efforts by the Federal Reserve to lower inflation), meaning the value of the dollar continues to decline. Thus, prices will continue to go up. 

Biden’s attempt to wholly blame private businesses for the pain consumers feel at the register is spurious. 

The second mostly false claim involved job growth, specifically within the manufacturing field, in the United States.

Community Notes quickly pointed out that the majority of those 800,000 manufacturing jobs were “recovered” after the government-forced shutdowns during the COVID-19 pandemic caused those jobs to be lost. 

So, in reality, only roughly 175,000 new manufacturing jobs were created during Biden’s three years in office.

In both cases, Community Notes shared links to reputable sources, economic reports, and analyses, creating a comprehensive thread that completely upended Biden’s self-aggrandizing claims. 

The fact-checking process on 𝕏 not only highlights discrepancies in these and other political statements but also serves as an essential mechanism for the public to stay informed. 

And with 𝕏 becoming one of the few places left on the internet where truth, transparency, and accountability at least have a chance to rise to the surface, it will increasingly be an essential tool for citizens to hold politicians like Joe Biden accountable.

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