Three recent warning signs about the state of the U.S. economy may be cause for concern for President Joe Biden and the Democrats as the president continues his re-election bid.
The White House reacted furiously to a decision by ratings agency Fitch to downgrade the U.S. credit rating this week and blamed the move on the previous administration.
That downgrade was followed by a poorer than expected July jobs report and news that the average price of a gallon of gas has risen 30 cents over the past month, hitting Americans at the pumps.
The U.S. economy is always a key issue in presidential elections. The Biden team has been touting so-called “Bidenomics”—the president’s economic plan—and there has been a significant reduction in the annualized rate of inflation, which was 3 percent in June.
That’s down from 9 percent in June 2022 and approaching the Federal Reserve’s target of a 2…
