President Joe Biden took to X (formerly Twitter), warning against the potential repercussions of a return to Trump-era policies and their impact on the national debt and social security.
What Happened: In his tweet, Biden expressed concerns over the direction the country could take if Trump and his supporters were to regain power. He highlighted the potential for an increase in the national debt, threats to social security and medicare, and the possibility of a nationwide ban on a woman’s right to choose.
These comments come amidst a political climate where Biden and Trump are considered frontrunners for the 2024 presidential election.
Why It Matters: Biden’s concerns echo the sentiments expressed in his previous criticisms of Trump’s policies. He has been vocal about the impact of Trump’s ‘$2 trillion tax cut’ for the wealthy, which he claims added more to the national debt than any other president.
The national debt has indeed increased significantly, rising nearly $8.5 billion per day over the past year under Biden. Despite Biden’s assertion that the economy is ‘strong,’ half of the voters believe their financial situation is worsening, even as markets and employment hit record highs.
The potential impact of Trump’s deregulation versus Biden’s healthcare expansion also remains a topic of debate among investors.
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