This is why Biden is going to lose the election: Steve Forbes

Fox Business

10 May 202405:39

Summary

TLDRThe transcript discusses the perceived out-of-touch nature of President Biden's handling of the economy, particularly in relation to inflation and its impact on American consumers. It highlights the rise in inflation from 1.5% to a peak of 9%, and the subsequent decline to 8%, with a focus on the economic challenges faced by small business owners. The conversation also touches on Biden's approval ratings, which are dropping into the 30s according to various polls, and the potential political consequences of his economic policies. The discussion further extends to foreign policy, including the administration's approach to Israel, Afghanistan, and relations with China and Russia, with critics arguing that Biden's actions have emboldened adversaries and left allies uncertain of U.S. support. The speakers suggest that Biden's lack of clear communication and decisive leadership on these issues is contributing to a sense of unease and dissatisfaction among the American public.

Takeaways

📈 Inflation has risen significantly under the Biden administration, reaching a peak of 9% and currently at 18% or 8%.
💰 Americans are said to have money to spend despite rising costs, but grocery prices are up by 30%.
📉 Biden's approval ratings on the economy are low and dropping into the 30s, according to various polls.
🏠 Housing affordability is a challenge, with difficulties in renting apartments and securing mortgages.
🚗 Regulations are making it harder to buy traditional cars and are contributing to a decline in economic activity.
📊 The economy is facing stagflation, with a 1.6% growth rate and a list of failures including inflation and energy issues.
😣 There is a sense of frustration and concern about the current state of affairs under the Biden administration.
🌍 International relations are strained, with mentions of the Afghanistan withdrawal, tensions with Russia and China, and the situation in Israel.
🤔 There is criticism of Biden's leadership style, with calls for more transparency and clear communication to the American people.
🕊️ The Israeli-Palestinian conflict is a point of contention, with allegations of the administration pulling support from Israel.
🗣️ The narrative suggests that Biden's policies and actions are contributing to a decline in U.S. global standing and influence.

Q & A

What does the script suggest about President Biden's handling of inflation?
-The script suggests that President Biden is perceived as out of touch with the economic reality, specifically in handling the inflation rate, which has significantly increased during his term.
How did the script characterize the public's trust in President Trump versus President Biden on economic issues?
-According to the script, polls indicate that voters by a wide margin trust former President Trump more than President Biden on handling the economy.
What are the concerns of a small business owner in Wisconsin as mentioned in the script?
-The small business owner expresses that despite President Biden's claim that Americans have money to spend, the reality for businesses is more challenging under the current economic conditions.
What example of international concerns was discussed in the script related to President Biden's policies?
-The script discusses concerns regarding President Biden's approach to Israel, suggesting that his policies might be perceived as unfavorable to U.S. allies, specifically referencing the potential delay in weapon shipments to Israel.
What impact does the script claim Biden's economic policies have on everyday activities like renting an apartment or getting a mortgage?
-The script claims that Biden's economic policies, including regulations, have made it more difficult and expensive for Americans to engage in everyday economic activities like renting apartments or obtaining mortgages.
What is the significance of the script mentioning the Afghanistan withdrawal?
-The mention of the Afghanistan withdrawal is used to criticize President Biden's foreign policy, suggesting it showed weakness and emboldened other nations like Russia, as perceived by the script.
According to the script, how do voters feel about the economy under President Biden's administration?
-The script implies that a significant portion of American voters believe they are not in good shape economically, contradicting some survey results that suggest otherwise.
What do the script's references to historical U.S. Presidents imply about President Biden's leadership?
-The script contrasts President Biden's actions with those of past Presidents like Franklin Roosevelt and Abraham Lincoln, suggesting that Biden lacks the decisive and explanatory leadership exhibited by these historical figures.
How does the script describe the potential consequences of the Biden administration's policies on U.S. allies?
-The script describes the consequences as detrimental, particularly highlighting the situation with Israel and suggesting that Biden's policies could undermine the support traditionally extended to key allies.
What is meant by 'Bidenomics' as referred to in the script?
-'Bidenomics' refers to the economic policies under President Biden's administration, which the script criticizes as being ineffective and contributing to higher inflation and regulatory burdens.

Outlines

00:00

📉 Economic Critique of Biden's Administration

The first paragraph delves into a critique of President Biden's handling of the economy, citing a record 19% inflation rate under his watch, with significant increases in grocery prices and economic downturns in key battleground states like Wisconsin. Critics argue Biden is out of touch, especially highlighted during an interview where he attempted to downplay the economic distress by suggesting Americans still have spending money. This segment also includes a discussion with Steve about the political repercussions of Biden's economic policies, which are believed to worsen living standards through restrictive regulations and poor management of sectors like housing and traditional automobile manufacturing. The conversation concludes with a dire prediction for Biden's re-election chances due to his low approval ratings and the perceived failures in various policy areas, including U.S. energy policy, the Afghanistan withdrawal, and international relations, notably with Israel.

05:00

🌐 Presidential Leadership in Crisis

The second paragraph focuses on a broader criticism of President Biden's leadership, especially in managing international crises and domestic policy. The critique suggests that Biden lacks the decisive, strong-willed leadership shown by historical figures like Franklin Roosevelt during World War II or Abraham Lincoln. It discusses his inadequate communication with the American public regarding critical issues like the stakes in Ukraine and Israel, portraying him as wavering and indecisive. This is further exemplified by his dual approach to sensitive topics like arms shipments to Israel during a Holocaust remembrance speech, which critics argue shows a lack of straightforward, courageous decision-making expected of a president in challenging times.

Mindmap

Keywords

💡Inflation

Inflation refers to the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. In the video, it is a central theme as it is mentioned that inflation has risen to 18%, which is a significant economic concern. The script discusses how this impacts the American people's ability to spend and the prices of groceries, which have reportedly increased by 30%.

💡Economy

The economy encompasses all economic activities of a country or region, including production, consumption, and trade. The video's theme revolves around the state of the economy, particularly focusing on the perceived mishandling of economic issues by the current administration. The script mentions poll data suggesting dissatisfaction with the economy and the potential political consequences of this.

💡Approval Ratings

Approval ratings are the percentage of people who view a particular leader or policy favorably. The script discusses the declining approval ratings of the current administration, particularly in relation to economic issues, which are a key concern for voters. It is suggested that these ratings are dropping into the 30s, which historically has been a warning sign for incumbents facing re-election.

💡Election

An election is a formal decision-making process by which a population chooses an individual to hold public office. The video script alludes to an upcoming election and suggests that the current administration's handling of the economy could lead to electoral defeat. It mentions that there are less than six months to go until Election Day, indicating the urgency and significance of the current political climate.

💡Business Owner

A business owner is an individual who owns and is responsible for the operation and success of a business. The script features a small business owner from Wisconsin, who is used to illustrate the challenges faced by entrepreneurs in the current economic climate. The discussion around this character highlights the broader impact of economic policies on small businesses and the local economy.

💡Regulations

Regulations are rules or directives made and maintained by an authority. In the context of the video, regulations are criticized for potentially hindering economic activity and contributing to a decline in living standards. The script suggests that the current administration's regulatory policies are making it more difficult for businesses to invest and grow, which in turn affects the overall economy.

💡Stagflation

Stagflation is a situation in which the economy is experiencing slow growth and high unemployment, along with rising inflation. The term is used in the script to describe the current economic situation, with a specific mention of a 1.6% rate, indicating a concern that the economy is not performing well on multiple fronts.

💡Bidenomics

Bidenomics refers to the economic policies and strategies implemented by the Biden administration. The term is used in the script in a critical context, suggesting that these policies are not working effectively. It is implied that 'Bidenomics' is contributing to economic challenges such as inflation and is a factor in the administration's declining approval ratings.

💡Energy

Energy refers to the resources and facilities that provide power for industry, homes, and transportation. The script mentions U.S. energy as one of the areas of concern, suggesting that the current administration's policies may be negatively impacting the energy sector. This could have broader implications for the economy and national security.

💡Border Collapse

Border collapse refers to a situation where the control and security of a country's borders are significantly compromised. In the script, it is mentioned as part of a list of failures attributed to the current administration. The term is used to convey a sense of crisis and mismanagement in the area of immigration and border control.

💡PTSD

PTSD stands for Post-Traumatic Stress Disorder, a mental health condition triggered by experiencing or witnessing a terrifying event. In the video, it is used metaphorically to suggest that the impact of the administration's policies has been so negative that people might feel a deep sense of stress and anxiety akin to PTSD. This highlights the perceived severity of the issues being discussed.

Highlights

Biden is criticized for being out of touch with the current economic situation, with inflation rates reaching 18% and grocery prices up by 30%.

Inflation rate was 1.5% when Biden took office, and it has since peaked at nine percent.

Biden's approval ratings on the economy are low, with polls suggesting he is losing credibility and support.

Voters trust Trump more on the economy, according to polls.

65% of Americans believe they are in good economic shape, despite rising inflation and costs.

The interview suggests Biden is making a mistake that could be attributed to his pride.

Polls from Quinnipiac, Pugh, Monmouth, and Harvard show Biden's approval ratings dropping into the 30s.

Concerns are raised about Biden's mental state and his ability to lead, with references to 'senior moments'.

Biden's policies are criticized for making economic activity worse, with increased regulations and restrictions on traditional cars.

There is a lack of investment in higher standards of living due to rising prices and regulations.

American people are said to be sensing economic decline and are expected to respond negatively in ratings and elections.

Biden's handling of foreign policy, particularly the Afghanistan withdrawal, is seen as a failure and has implications for international relations.

The situation in Israel is discussed, with concerns about Biden's support for the country amidst an existential threat.

Criticism of Biden's approach to delaying the announcement of stopping weapon shipments to Israel.

Comparisons are made to past presidents like Franklin D. Roosevelt and Abraham Lincoln, suggesting Biden lacks their leadership qualities.

Biden is accused of not explaining the stakes of international conflicts to the American people.

Concerns about the long-term effects of Biden's policies on the economy and international relations.