Joe Biden waved the white flag of surrender after he admitted to this massive failure

Joe Biden’s problems are piling up with no end in sight.

He knows he’s in way over his head.

And Joe Biden waved the white flag of surrender after he admitted to this massive failure.

President Joe Biden is presiding over one of the worst economies in a generation.

Inflation is running rampant, energy prices are soaring, the stock and housing markets are plummeting, and economic growth is grinding to a halt. 

The U.S. economy is teetering on the brink of massive recession under the weight of the massive problems Biden inflicted on the country – like trillions of dollars in unnecessary, wasteful spending on left-wing special interests.

While the economy is struggling, President Biden has offered one excuse after another as to why nothing that happens is ever his fault or why it is the result of Democrats’ radical left-wing agenda.

After the war between Russia and Ukraine broke out, he tried to blame Russian President Vladmir Putin for skyrocketing inflation and gas prices.

President Biden began blaming the soaring increase in working class Americans’ cost of living on “Putin’s price hike.”

With major Wall Street banks and business leaders predicting that a recession is imminent, Biden is now changing his tune on the economy.

During a White House press conference, Biden warned Americans that the economy could suffer “setbacks” on the road to recovery.

“It’s going to take time to get inflation back to normal levels as we keep our job market strong, so we could see setbacks along the way — I don’t doubt that — but thus far we’re in good shape,” Biden said.

This is an abrupt change in President Biden’s messaging since the Midterm elections are over.

Previously, he claimed that inflation was “transitory” before declaring that it had “peaked” and lower prices were right around the corner.

Biden tried to claim that prices at the grocery store were “down slightly,” which flies in the face of his regime’s own data – and the personal experience of every working class American who, unlike most career politicians, do their own grocery shopping.

The Biden Department of Labor’s latest inflation report revealed that the price of food in grocery stores is up 12.4% from this time last year.

President Biden has promised that he’s “laser focused” on lowering inflation and that the wildly misnamed $740 billion “Inflation Reduction Act” would kick into effect in six weeks.

The so-called “Inflation Reduction Act” spends hundreds of billions of taxpayer dollars on radical left-wing special interests’ wish list items, like green energy and Obamacare giveaways, while doing absolutely nothing to reduce inflation.

Democrats used inflation as branding for the bill to help sell another round of unpopular socialist spending.

During the debate over the bill, Senator Bernie Sanders (I-VT) even admitted that the bill won’t do anything to lower inflation.

Former Vice President Mike Pence torched President Biden’s false optimism about the economy on Fox News.

He said that the Biden economy is one of the reasons Republicans won the U.S. House majority in the Midterm elections.

“What we are witnessing in the Biden administration — whether it be the runaway spending, whether it be flatlining defense spending, whether it be tax increases, driving a recession and inflation in this economy — one policy after another just seems almost intent on weakening America at home and abroad,” Pence explained. “It’s one of the reasons why we won back the House of Representatives.”

With a major recession looming, Joe Biden is all out of excuses for his economic failures. 

Stay tuned to Conservative Underground News for any updates to this ongoing story.