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Donald Trump: ‘Bidenomics’ Leading United States into a ‘Great Depression’

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By Jordan Dixon-Hamilton

Former President Donald Trump called out President Joe Biden’s

“Bidenomics” for leading the country into another “Great Depression,” according to prepared remarks obtained by Breitbart News ahead of Trump’s speech in Rapid City, South Dakota, on Friday.

“If you took the five worst presidents in the history of the United States and added them up, they would not have done near the destruction to our country as Joe Biden and the Biden administration have done in a few short years,” Trump said. “And no damage has been worse than the disaster known as Bidenomics.”

President Joe Biden speaks on August 15, 2023, in Milwaukee, Wisconsin. Biden used the opportunity to speak about his “Bidenomics” economic plan on the one-year anniversary of the Inflation Reduction Act of 2022. (Photo by Scott Olson/Getty Images)

Trump called out the following failures of Biden’s economic agenda:

Since Joe Biden took office, cumulative inflation has reached almost 20 percent — and the dollar has lost more than 20 percent of its value in just three years’ time…

Joe Biden has blown through $11.5 trillion dollars in wasteful spending — equivalent to $88,000 dollars taken from every American family.

Under Biden, the budget deficit is exploding and set to more than double this year alone…

Manufacturing has contracted ten months in a row, and monthly jobs reports have been revised downward every single month of 2023.

During Biden’s first 30 months in office, just 2.1 million new jobs have been created nationwide. By contrast, during the first 30 months of President Trump, we created 4.9 million new jobs, shattering all predictions.

Under Biden, real incomes have gone down by $7,400 dollars per family. Under President Trump, yearly income went up by more than $6,000 dollars.

“We’re heading into a great depression,” Trump added. “The only question is whether or not it will be during the remaining months of the Biden administration … or will the next president have to bear the brunt of what Biden has done to our country? I don’t want to be the next Herbert Hoover — and I won’t let that happen.”

Trump accused Biden of being “an economic arsonist,” who is “incinerating American wealth at a level never seen before. It’s an inferno of inflation, taxation, submission, and failure.”

“The choice in this election is between a Biden Economic Bust or a Trump Economic Boom. … Crooked Joe cares only about enriching his own family — I care about enriching your family,” Trump added.

“If you want the Bidens to make millions selling out America to China, Russia, and Ukraine while your savings go up in flames, then vote for Crooked Joe. … If you want better jobs, higher wages, and an affordable American Dream, then you must vote for your favorite president, Donald J. Trump,” Trump said.

Friday’s speech in South Dakota marks the first time the former president has returned to the state since his pivotal Mount Rushmore speech in July 2020 on the day before Independence Day.

South Dakota Gov. Kristi Noem (R) also attended the event and endorsed Trump’s presidential campaign, as Breitbart News detailed.

Jordan Dixon-Hamilton is a reporter for Breitbart News. Write to him at [email protected] or follow him on Twitter.

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