The mainstream media spent four years pretending Bidenomics was a stunning success. However, now that Biden's finally out of office, we’re finally seeing the media admit what conservatives have been warning about all along.
Treasury Secretary Scott Bessent recently blasted the media's portrayal of Biden's economy, confirming what most working Americans already knew: We've been living in an economic fantasy land.
“What I find interesting is for the past year and a half and during the campaign, most of the media said, oh, the economy is great, it's just a vibe session. Now that President Trump's in office, there's an economic problem,” Bessent said on CBS News’ “Face The Nation” last week. “And I'll tell you what the problem was [...] in general, this idea that working-class Americans didn't know what they were talking about, they didn't know their lived experience, they didn't know what they, their pocketbooks were feeling. And I'll tell you, President Trump was elected—one of the reasons—was the affordability crisis. And we are setting about doing that.”
Bessent continued, “So after four years, four years of disastrous policies, we're running these gigantic deficits that they—that led to the affordability problem, massive government regulation. So what we had was a demand shock from the government spending that was met by supply constraints with overregulation. So we are in the process of deregulating, which will free the supply side, and we are cutting back the government spending. It took four years to get us here. President Trump's been in office five weeks.”
.@SecScottBessent: What I find interesting is, for the past year and a half... most of the media said, "Oh, the economy is great..." Now that President Trump is in office, there's an "economic problem." ... It took four years to get us here. President Trump's been in office five… pic.twitter.com/KNgbK15KGg
— Rapid Response 47 (@RapidResponse47) March 2, 2025
At the Australian Embassy last week, Bessent also said, "The private sector has been in a recession," which many of us on the right have been saying for several months. That’s why it comes as no surprise that Atlanta Fed's GDPNow tracker projects a shocking 1.5% contraction in the first quarter—a dramatic reversal from their 2.3% growth projection made just nine days earlier.
Of course, an article in Fortune desperately tries to pin this on Trump’s tariffs, even though, as the article admits, “President Donald Trump's tariffs have not gone into effect yet." You can't make this stuff up, folks!
Bessent has also recently dropped a truth bomb that has liberal economists squirming: "We're seeing the hangover from the excess spending in the Biden four years,” he said, before explaining that in six to 12 months, it becomes Trump's economy.
Treasury Secretary Scott Bessent was just questioned if we're in a recession.
— Financelot (@FinanceLancelot) February 28, 2025
"We're seeing the hangover from the excess spending in the Biden 4 years. In 6 to 12 months, it becomes Trump's economy."
Translation: They want the market crash soon. https://t.co/NfSOVRpQV0 pic.twitter.com/QzryPJT1IO
I've been warning about this looming recession for months while the Biden administration was busy fudging economic data to hide the fact that we've already been in one. The only real growth on Biden’s watch came from bloated government spending—not sustainable private-sector jobs. Bessent confirmed that a staggering 95% of all job growth in the past year came from public and government-adjacent sectors.
Flashback: Here's How the Biden-Harris Administration Fudged the September Jobs Report
But let's be clear: Fixing the mess that Biden left us won’t happen overnight. The media will spin any economic downturn in the first quarter as Trump’s fault, but in reality, this is Biden's economic hangover.
