Joe Biden’s senior economic advisor, Gene Sperling, resigned on Monday following a global stock market crash.
Joe Biden and Kamala Harris have boasted about their disastrous economy, despite significant failures. The economy was already struggling due to inflation, which they caused, resulting in financial strain on Americans. Then they raised interest rates, further burdening ordinary people.
Now, as fears of a recession grow, markets around the world are plunging, as Breaking Digest previously reported.
Japan’s Nikkei 225 Index lost 4,451 points, its biggest single-day loss since 1987.
According to Reuters, the “Magnificent Seven” stocks will shed $1 trillion in value, with Apple and Nvidia leading the sell-off.
The DOW dropped more than 1,000 points on Monday.
Watch:
“We have never been down 1,000+ points — EVER, not even intraday — on the Nasdaq.”#KAMALACRASH pic.twitter.com/iCXN83vOkQ
— RNC Research (@RNCResearch) August 5, 2024
Sperling stepped down from one sinking ship to join another… the Harris campaign.
🚨 Senior Biden Harris economic advisor Gene Sperling is resigning TODAY
— Nick Sortor (@nicksortor) August 5, 2024
This could be a REALLY bad sign of what’s to come.
Buckle up. pic.twitter.com/QPn1ErZigV
“Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat,” a completely clueless Joe Biden said in a statement.
In his statement on Sperling leaving, Biden expressed his satisfaction with selecting Sperling, stating that he “helped me execute a rescue plan that has led to one of the most equitable and resilient economic recoveries ever.”
Joe Biden’s full statement:
When I took office, our economy was reeling, a pandemic was raging, and hundreds of thousands of small businesses across the country were at risk of shutting their doors. Having run Recovery Act implementation for President Obama, I knew I needed an American Rescue Plan Coordinator with the expertise and experience to hit the ground running. I’m glad I picked Gene Sperling.
Gene joined my administration as the only person to have ever directed the National Economic Council under two presidents, and has helped me execute a rescue plan that has led to one of the most equitable and resilient economic recoveries ever. His work helped nearly 40 million working families get unprecedented child tax cut relief and over 8 million renters get emergency assistance to help keep their families housed. Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat.
I also looked to Gene as a trusted advisor on the economy and gave him some of the toughest assignments, including serving as my liaison to the Big 3 automakers and UAW as autoworkers fought for – and secured – record contracts.
Having traveled from Delaware to D.C. every day during my Senate career, I know a thing or two about long commutes. I’m grateful to Gene’s wife Allison, his children Nina and Miles and his godchildren Derick and Samantha for allowing Gene to lend me his wisdom, his counsel, and his friendship. They should know our nation is stronger and more just because of the families that Gene has spent every day fighting for over the past three-and-a-half years.
Biden’s statement on Gene Sperling leaving the WH pic.twitter.com/klrFoaAEUu
— The Post Millennial (@TPostMillennial) August 5, 2024
"Bidenomics. Ha ha ha ha! That is called Bidenomics — and we are very proud of Bidenomics!"
— RNC Research (@RNCResearch) August 5, 2024
— Kamala Harris#KamalaCrash pic.twitter.com/JwXWeePr1m
