Price inflation, supply chain disruptions, and federal government expenditures have all contributed to the widespread perception that the United States’ economy is in jeopardy.

In a move that fueled suspicions about an out-of-touch administration, President Joe Biden this week stated that the economy has been better during his leadership thus far than the same era in the first terms of any of the recent administrations.

Trump tweeted on Wednesday that the year will conclude with the best first-year economic track record of any president in the previous 50 years, according to Breitbart.

While a clarifying statement from the White House may have cleared up his problematic allegation, the comment on its own might persuade some Americans that the Biden administration is naive about the health of the economy outside of the D.C. bubble.

“Let’s keep the progress going,” Biden said on Twitter, without revealing whose “expert” praised his administration so highly.

For his side, prominent economist Peter Schiff had a radically different attitude about an economy that is relatively weak than ever due to a high trade imbalance.

Despite Biden’s efforts to put a positive light on the economy, the survey revealed that a growing number of families are trying to stretch a dollar in the face of a 7% increase in the cost of food and other items, or approximately $3,500 in extra expenditure over the course of a year.

As for whether President Joe Biden would finally embrace the realities of the economy he built, at this time, we are in doubt.  However, his most recent comments on the subject indicate that it is unlikely to be the case.