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Roth: Biden hasn’t been investing in America; he has been killing the middle class

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Americans can’t afford another four-year term of President Biden, quite literally.

Announcing his re-election campaign, Biden is trying to make himself, and his party, the champions of the people who have most suffered under his lack of leadership: the working and middle class. But he hasn’t been investing in America, as he claims, and which also isn’t his job — but he has been decimating economic opportunity.

From day one, President Biden has attacked traditional sources of energy, making them less abundant and more expensive in terms of both direct energy costs and the costs of the 6,000 derivative products and myriad other services that depend upon fossil fuels.

His “American Rescue Plan” was the opposite of its name. Biden and friends overstimulated the economy and caused inflation the likes of which we hadn’t seen in 40-plus years. This created a heavy burden on the cost of everyday living for millions of Americans across the country.

Biden and his administration pushed for lowering the reporting threshold for online transactions to $600 and sought $80 billion in IRS funding to enforce that and other rules, not for billionaires, as claimed, but for Main Street Americans.

He has formalized business social credit in the form of ESG, putting the whims and desires of his elite cronies over your best interests, without any legislative process. Biden’s administration entrenched ESG pushers at the SEC, and his Department of Labor put out a rule allowing retirement plan managers to shirk their fiduciary duty to you as an investor, prioritizing ESG initiatives over your investment returns.

Biden, without congressional support or approval, fully weaponized the dollar on the international stage, making a huge move with massive consequences for the financial world order, in freezing Russia’s dollar-denominated reserve assets and pushing allies around the world to do the same.

As a consequence, this accelerated the push to dethrone “King Dollar” as the world’s reserve currency, with countries around the world making moves to de-dollarize.

His latest attack on the middle class comes with an extra knife-twist: It penalizes those with good credit. It was announced that as of May 1, those with high credit scores, the responsible people who do the best with their financial circumstances, will be penalized on their mortgage fees. That’s right, the FHFA mandated the increase of loan-level price adjustment fees for those with good credit scores to partially subsidize “riskier” homebuyers with poor credit scores.

Biden and friends’ pursuit of equity means that everyone ends up the same — poor (well, except for the elite).

As the Fed has been raising interest rates, meant as a signal to ease up on spending, Biden, along with his congressional supporters, have not even feigned interest in slowing their spending, racking up a $1.1 trillion deficit through the first half of 2023 and proposing a budget with more government spending and expansion.

Nobody (besides perhaps some elite, well-connected cronies and profiteers related to Biden’s various initiatives) believes their financial standing is better off because of Biden’s policies. Many Americans may not know about all the above policies, but they do go to the grocery store and see what’s listed on the checkout register.

A NBC poll showed that 70% of respondents didn’t want Biden to run again for president. Given the financial trajectory the U.S. is on today, if they don’t trust their guts and their wallets, today’s runaway fiscal train will derail.

Carol Roth's new book, “You Will Own Nothing,” is available for pre-order now.

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