Despite a years-long “Bidenomics” campaign to grow the economy, the Biden administration announced on Thursday that inflation-adjusted Gross Domestic Product (GDP) for the first three months of 2024 was lower than predicted, opening up President Joe Biden to a fresh round of criticism.
Bureau of Economic Analysis numbers, posted to X in chart-form by the White House Council of Economic Advisers, showed this economic measurement that is known as “real GDP” grew by 1.6% in the first quarter on an annualized basis, below expectations of 2.5%.
FOX BUSINESS: "These GDP numbers were shocking. We were expecting a 2.4% growth. The actual came in at 1.6--a huge loss--and with rising inflation...that adds up to stagflation."
— MAGA War Room (@MAGAIncWarRoom) April 25, 2024
"That's something we haven't seen since the 1970's." pic.twitter.com/78Ks3Rjq0X
