The United States is teetering on the edge of financial collapse, and President Joe Biden is to blame. His reckless spending and lack of financial discipline have put the country in an incredibly precarious situation.
The closure of First Republic Bank is just the latest example of the consequences of Biden’s actions. The bank was seized by federal regulators after it reported losing over $100 billion in deposits, making it the third major bank to fail in recent months.
“Let me be very clear, all depositors are being protected, shareholders are losing their investments, and critically, taxpayers are not the ones who are on the hook,” Biden said during a small business event at the White House on Monday.
Biden is trying to downplay the seriousness of the situation by saying that regulators have taken steps to protect taxpayers from being on the hook. However, the truth is that no matter what measures are taken, the shareholders of the failed bank have already lost their investments.
Furthermore, Biden’s actions are leading to an increase in inflation, resulting in higher costs for goods and services. This, in turn, is making it harder for small businesses to survive, as they are unable to pass on the increased costs to their customers.
The government should be doing more to ensure that banks are safe and sound. Unfortunately, Biden’s fiscal policies have done the opposite, putting the banking system at risk.
It’s clear that Biden’s poor handling of the economy has put the nation in a difficult position. We need a president who understands the importance of fiscal responsibility and will take steps to ensure the financial stability of the country. We can’t rely on Biden to make the right decisions anymore.
The failure of First Republic was a direct result of Biden’s call to allow the fed to raise interest rates to ‘slow’ inflation.
It’s time for a change, and it’s time for a president who will make sure the US doesn’t end up back in this position again. We need a president who understands the value of fiscal responsibility and will take steps to strengthen regulations and supervision of large and regional banks.
It’s time to start holding Biden accountable for his actions and make sure the country never finds itself on the brink of financial collapse again. We have to vote these clowns out of office!
