A former top advisor to Ronald Reagan stated one simple fact that had Joe Biden fuming

Joe Biden’s Presidency is on the verge of collapse.

His problems are growing by the day.

And a former top advisor to Ronald Reagan stated one simple fact that had Joe Biden fuming.

Donald Trump handed Joe Biden an economy that was well on its way to recovery from the pandemic.

But in less than two years, the economy is in ruins from Biden’s failed leadership.

Inflation is running rampant, gas prices are at record highs, store shelves are empty, and the stock market is plunging.

After growth clocked in at -1.5% for the first quarter of the year, the economy is teetering on the verge of a recession.

Despite the many obvious and highly visible economic problems facing the country, Joe Biden is trying to claim all is well.

Biden and his allies in the corporate-controlled media have tried to claim that, except for a few minor problems, the economy is actually great.

The low employment rate is a favorite talking point for the strength of the Biden economy.

Of course, this ignores the fact that there are now fewer people working than before the pandemic.

Instead of trying to solve the many economic problems he created, Biden has taken to denying the obvious grim economic reality facing America.

He falsely claimed that the United States has the fastest growing economy in the world, which was such a blatant lie that even CNN fact checked him.

Former Ronald Reagan advisor Art Laffer had been one of the leading economic minds on the Right for decades.

In an appearance on Fox News, he ripped into Biden for the economic fairy tale he’s been trying to paint.

“The one really serious mistake that the President states over and over again is that this economy is in beautiful shape, and it’s been growing rapidly,” Laffer said. “All of that is not true.”

“There are… 800,000 less people employed today than there were in February of 2020. We have not even caught back up to where we were before,” Laffer continued. “If you look at it relative to trend, we’re off that trend by 5 or 6 million jobs.”

“In the first quarter of this year, GDP growth was negative by 1.5 percent, which is a huge drop in real GDP,” he explained.

“And they have just revised the second quarter of GDP, down from a 1.3% growth to a 0.9% growth,” Laffer added. “This is the Atlanta Fed’s estimates of what the second quarter will be.”

“Now it’s down to 0% on their estimates, so all of those statements they make are just literally not true. They’re not factual,” he concluded.

Since the economy is a total disaster under Joe Biden, he’s turned to lying about it and hoping someone believes him.

But Americans can plainly see his many failures every time they go to the store, fill up their gas tank, or look at their 401Ks.

And that is why polls consistently show the American people blame Joe Biden for the rough economy.

Renewed Right will keep you up-to-date on any new developments in this ongoing story.